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DPM: Business Licence fee is ‘inherently unfair’
THE Government is examining how to adjust a Business Licence fee that the Deputy Prime Minister yesterday branded “inherently unfair” to firms with high turnover and low profit margins. K Peter Turnquest, who is also minister of finance, described as “misinformation” any suggestion that the Government has committed to the European Union (EU) that it will introduce a corporate tax or income tax.
Economist backs spending cuts to end ‘major wastage’
A University of the Bahamas economist yesterday backed government spending cuts on the grounds there has been “a great deal of wastage”. Rupert Pinder, addressing a Rotary Club of West Nassau luncheon, said: “We cannot overemphasise the importance of economic growth. You can cut spending until the cows come home, but what is really going to put this economy on a strong footing is growth. I am a proponent for cuts in public spending because I think there has been a great deal of wastage.
PM: ‘No time to rest on laurels’ over EU
THE Prime Minister yesterday said the Bahamas has “no time to rest on our laurels”, given the European Union’s (EU) concerns over the absence of corporate income taxation. Dr Hubert Minnis told the House of Assembly that the EU’s Code of Conduct group had written to the Government expressing concerns that this nation’s tax system did not comply with its ‘blacklisting’ criteria.
Nassau/PI resorts in New Year sell-out
MAJOR Nassau/Paradise Island resorts are predicting traditionally strong occupancies over the Christmas and New Year’s holiday period.
A Cabinet minister yesterday moved a parliamentary motion to create a select committee that will probe the the Bahamas Telecommunications Company’s (BTC) 2011 privatisation.
A Cabinet minister yesterday moved a parliamentary motion to create a select committee that will probe the the Bahamas Telecommunications Company’s (BTC) 2011 privatisation.
Harbour Island ‘thrilled’ at BPL energy resolution
Tourism stakeholders on Harbour Island yesterday hailed Bahamas Power and Light’s (BPL) plan to provide a 6 Mega Watt (MW) power plant to address long-standing energy concerns as “very encouraging”, one executive telling Tribune Business: “We’re thrilled.”
Land registration still ‘stuck in 18th century’
The Bahamas’ land registration system remains “stuck in the 18th century, an Abaco realtor believes, while calling on this country to develop a proper Land Use Plan (LUP).
Abaco’s airlift capacity up 9%
Abaco has attracted 47,000 stopover visitors year-to-date, a Ministry of Tourism official says, with the island’s airlift capacity for international arrivals increasing for the third straight year.
‘Much work’ ahead over business ease
The Bahamas has “a lot of work to do” before it sees a dramatic improvement in the ease of doing business, the Opposition’s finance spokesman said yesterday, adding: “There’s just too much government bureaucracy.”
Fishermen: Gov't late on storm relief
Bahamian fishermen are hoping the Government will give further thought to their cry for fuel concessions, one representative telling this newspaper: “That would go a long way to helping the industry”.
‘Nothing to celebrate’ on $99m borrowing
The Opposition yesterday argued there was “nothing to celebrate” in the Christie administration’s revelation that it is only borrowing $99 million to fund the 2016-2017 fiscal deficit, its finance spokesman saying it had over-burdened Bahamians with taxes to achieve this.
FNM deputy questions Mortgage Relief ‘sense’
The Christie administration’s revised Mortgage Relief Plan does not make much sense “on the face of it”, according to the Opposition’s finance spokesman, who questioned what return the Government would get for its $20 million ‘investment’.
Two-destination Cuba travel 'bit of a stretch'
A 'two-destination' travel arrangement that would see visitors to Cuba also travel to the Bahamas could be a “bit of a stretch”, the FNM's deputy leader believes.
Bahamas must get balanced tourism
The Bahamas must ensure it strikes the right balance between its cruise and stop-over business, the FNM's deputy leader reiterating that it provide a competitive and unique product.
MSC deal to give Bahamian company ‘widest ever smile’
The Bahamian leaseholder of Ocean Cay will have “the biggest smiles ever” as a result of the deal that will see Mediterranean Shipping Company (MSC) take over the island for its $100 million cruise port.
Natural resources: New fiscal regime under development
The Government is working with the Commonwealth Secretariat to finalise a new fiscal regime for the mining of sand, aragonite and other Bahamian natural resources, the Minister of the Environment and Housing said yesterday.
Union leader calls for Productivity Council
A leading trade unionist has called for the creation of a tripartite National Productivity Council, arguing that the Bahamian education was “designed for students to fail”.
LOI controversy firm’s ‘big chance’ to revive project
The company at the centre of the Letter of Intent (LoI) controversy over its proposed $650 million waste-to-energy plant yesterday said PowerSecure International’s selection as BEC manager gives it a “huge opportunity” to revive the project.
Relays give Atlantis 4,700 nights boost
The IAAF World Relays generated 4,700 occupied room nights for Atlantis, a Cabinet Minister said yesterday, with the event attracting more than 1,400 visitors to the Bahamas.
FNM deputy queries quality of Baha Mar building materials
The Opposition’s deputy leader yesterday expressed concern over Baha Mar slamming China State Construction, the lead contractor for its $3.5 billion development, and questioned whether there were material quality issues as well.
