Minister says tax hikes an ‘absolute last resort’
A Cabinet minister yesterday reiterated that new and/or increased taxes are an “absolute last resort” given that they will undermine The Bahamas’ post-COVID recovery, again pledging that they will not feature in today’s Budget.
HUBERT EDWARDS: Today’s Budget for a better tomorrow
We previously considered The Bahamas’ debt sustainability, and looked at the challenges faced from a Caribbean context.
NIB to boost prosecution of delinquent employers
A Cabinet minister yesterday said the National Insurance Board (NIB) plans to prosecute more delinquent employers, and recover all contribution income due to it, amid projections that its $1.6bn reserve fund will be exhausted by 2028.
‘No difficulties’ with South Ocean area casino licence
The deputy prime minster yesterday said a casino licence for the South Ocean area will have “no difficulties” in receiving approval from the Gaming Board (GB).
Bahamas urged: ‘Go back into the tourism business’
A prominent architect is arguing that The Bahamas must “go back into the tourism business for itself” to reverse the “dramatic drop” in its competitiveness versus faster-growing rival Caribbean destinations.
Abaco Chamber chief: ‘We’re in a scary time’
Abaco’s Chamber of Commerce president yesterday said The Bahamas and whole world are entering “a pretty scary time”, adding that the island was “just waiting for the other shoe to drop” when it came to further price hikes.
Accountant ‘surprised’ if any Budget tax hike
A Bahamian accountant yesterday said he would “definitely be surprised” if the Government introduced new and/or increased taxes in tomorrow’s Budget given that it would only worsen the cost of living crisis for vulnerable Bahamians.
BISX-listed Fund eyes restart for dividends after 15-year gap
The BISX-listed Bahamas Property Fund’s Board will within the next month receive a recommendation to resume investor dividend payments after a 15-year hiatus following completion of its $8m preference share financing.
‘NO WAY’ TO PAY BILLS WITHOUT NEW TAXES: Reformer says Budget is most important in history of The Bahamas
A governance reformer yesterday said he was “confident” some tax increases will be unveiled in tomorrow’s Budget, which he branded as the “most important” in Bahamian history to-date.
Private pilots: ‘Trust but verify on show stopper’
Private pilots plan to “trust but verify” pledges by Customs to ease clearance reforms that some argue could cost this nation up to 25 percent of its existing business if implemented in their original form.
Super Value slashes inflation impact 20%
Super Value’s principal says he does “not expect” The Bahamas to be hit by the baby formula shortage afflicting the US, while the supermarket chain’s buying strategies have reduced food inflation’s impact by 15-20 percent.
Bud ‘fight’ on Burns House supply loss
Budweiser’s parent should have given BISX-listed Commonwealth Brewery more than one year’s notice warning when it terminated their distribution agreement and forced the Supreme Court into “uncharted territory”.
Bahamas First chair urges ‘exemption’ on insurance investing
Bahamas First’s chairman is urging the Government and Central Bank to give property and casualty insurers a “special exemption” to invest overseas and help improve their financial resilience to natural disasters.
DEREK SMITH: ‘Digital transformation’ - The second part is key
Every company has been forced to reinvent itself, or re-evaluate how it does business, due to a digital evolution that some might call a revolution. Large companies have invested substantial resources in what is usually referred to as “digital transformation”. However, a problem occurs when they undertake a digital transformation plan without a clearly defined vision of what this should entail.
Digital assets are no ‘silver bullet’ to rescue economy
A Cabinet minister and a member of the Government’s Digital Advisory Panel have both warned that digital assets are not a “silver bullet” that will rescue the Bahamian economy by themselves.
