- Gender: M
- Hometown: Abaco, Bahamas
- Location: Brazil, Turks and Caicos, London
- Occupation: Professor, Economist, Government Advisor, Author
Biography
Professor Gilbert NMO Morris is one of the world's leading experts on the design, development and legal foundations of financial centres. Morris was Professor at George Mason University. He Chairman of the Turks and Caicos National Investment Agency TC Invest and was appointed as Special Envoy from the office of the Premier to the All PArty Committee of the House of Lords. His most recent book "Rescue America" (with Chris Salamone), reached number 5 on the New York Times Bestseller list.
Comments
GilbertM 10 years, 7 months ago
by GilbertM
We tend to treat incentives as a "giveaway". They are not. If a government just gives "incentives" without targeted reasons, then they are not incentives, but instead are evidence of that government's deal ignorance.
An incentive recognises the competitive nexus in which investments must occur. That means other countries are giving concessions to induce the investor to put money in their countries rather than ours. If we want that investment, we should weigh balancing factors such as whether the investment put the Bahamas on the map in certain sectors, or strengthens an existing sector, or attaches to another sector to maximise its proficiency.
In this way, incentives are never a giveaway because the government knows the balancing factors that make the investment viable. And the concession on revenues should be made up elsewhere. Therefore its never right to say the government should stop giving incentives. This can only mean that the government does not have a balancing index of benefits in mind...and that it has been foolish and undisciplined in its approach.
Professor Gilbert NMO Morris
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