The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A governance reform campaigner yesterday urged all political parties to be mindful of the Bahamas’ fiscal situation when making pre-election promises, arguing that none were “worth voting for” if they did not promise a Fiscal Responsibility Act.

With the 2017 general elections just days away, Rob Myers, a principal with the Organisation for Responsible Governance (ORG), warned against election “pandering”.

He added that if there are no Budget allocations for pre-election promises, they are no more than election ploys.

“I think that is a concern that is shared by many people, and that is that you have got the tendency, particularly of the incumbent government, to pander to the various groups with the hope that it will help them win an election,”Mr Myers said.

“My only concern is obviously whether it is being done with a clear consideration of our fiscal situation, where these things are actually budgeted in the 2017-2018 Budget. If they were not budgeted then it is clearly an election ploy.

“If they were budgeted then we have got to make sure that we can meet those expenditures and justify those expenditures, otherwise we are only pushing ourselves further off the fiscal cliff. With our GDP where it is at the moment  there is reason for significant concern.”

Mr Myers added that ORG has repeatedly campaigned for a Fiscal Responsibility Act, saying: “Any government that does not do that is not worth voting for.

“We can’t do things willy nilly and expose this nation to serious fiscal peril. If  promises are made and things are budgeted, then fair enough, but if they are not then it’s political pandering and that’s irresponsible.”

Mr Myers added: “The point of the Fiscal Responsibility Act is that it would require the Government to put out a very specific budget and live within that budget, while showing how it is going to be fiscally responsible and deal with deficits and the debt.

“If they don’t do that then we, the people, are left exposed. If governments don’t exercise fiscal responsibility we are going to hit that fiscal cliff. My guess is that we’re probably one foot off the edge of that fiscal cliff.”