Nassau, Bahamas – November 28, 2017 – There is more fall out over the Minnis Administration’s Commercial Enterprises Bill 2017, which is on its way to the Upper Chamber for further parliamentary scrutiny… but as it makes the journey, former Prime Minister Hubert Ingraham is speaking out against the legislation.
The bill, passed last week in the House of Assembly with unanimous support by the Governing side and unanimous rejection by the Opposition side is aimed at attracting specific investors. Once in the category specified in the Enterprises Bill, as it is being called and when there is a quarter of a million or $250,000 investment by the company, there are guaranteed concessions including work permits for management staff.
Hubert Ingraham told the Tribune newspaper in a rare interview that the Minnis Government should rethink some of the concessions. Ingraham said the threshold of $250,000 is too low and explained that entitling a certain number of work permits is an outdated measure, going back as far as 1950s Bahamas.
The former PM advised that if the Minnis Administration wants to change the immigration policy, they should do so in concert with the PLP and they should be more comprehensive and not take a piecemeal approach. The legislation, as it is, gives the work permit concession without consideration of other companies currently operating in The Bahamas, who could demand similar concessions when it comes to foreign workers.
Ingraham also reflected on a time under his governance when a similar initiative was proposed, four of the current government members – Minnis, Bannister, Foulkes and Symonette – were all serving and all agreed that a threshold of $250,000 should be changed and boosted to double that, half a million dollars.
Mr. Ingraham said additionally, foreigners who come here must have permission and to give a 14 day window for them to come and just begin working is not a sound move.
Meanwhile the current FNM Administration says this bill is visionary and needed to open up the Bahamian economy.
PHOTO FROM BAHAMAS PRESS
