Bahamas News
DPM Presents Budget Issues to Grand Bahama Chamber of Commerce
#GrandBahama, June 19, 2018 – Bahamas – The government has made provisions to empower people during this current budget period, said Deputy Prime Minister and Minister of Finance, the Hon. Peter Turnquest during the Grand Bahama Chamber of Commerce Business Luncheon, June 15, at Pelican Bay.
Minister Turnquest, in explaining why the government will increase VAT from 7.5% to 12% to increase revenue, presented to Chamber members what the government faced when coming to office on May 10, 2017. As a result of the large commitments due, the government borrowed some $1.4B to cover those expenses. This, he said, was not the end of it, as there were other outstanding bills amounting to millions of dollars.
What previous governments have been doing is using the current budget to pay last year’s bills, and rolling it over continuously. He said, there were a number of times he called for outstanding bills that were not brought to his attention until months later amounts to hundreds of millions of dollars and added that he has advised the staff that if it happens again, “when you bring me that next bill and it relates to the previous period, bring me your resignation the same time.”
This resulted in more bills coming, but the government will partially deal with those this year.
With a debt of $7.2B, and interest on that debt in the amount of $381M annually, which increased by $89 in the past year, the government is faced with a serious challenge.
“That $381M represents more than our National Security budget, our Health budget, or Educational budget by over $100M. Obviously that is not sustainable.”
He continued, “For years, we have been borrowing to meet our commitments rather than trying to make government more efficient and roll back our expenditure.”
A lot of money was spent when a previous administration created programmes to employ people, he said. The economy was slow and people were losing jobs at an alarming rate. While the government employed some individuals, it cost a lot of money. It is difficult to adjust government spending, continued the Deputy Prime Minister, adding that whenever someone is let go, there is the political side, and that person is in a position 
of having no safety net. This results in their having to go back to the government for assistance.
“So have you really won anything? Not really because you’re taking them off of the government payroll where they are doing something and putting them on the social roll where they are only getting into mischief. It isn’t really the answer, certainly not in the short term.”
The government went through the process of trying to cut costs without causing social upheaval and they started by looking at contract workers who had been on the payroll for the 52 week job programme, which became 104 weeks. “There was no off ramp provided for them. They were left just as vulnerable one year later, as they were when hired.” This, he said, is not sustainable, productive or empowering to the people. To deal with this, the government has provided not only free education at BTVI, but established a Small Business Development Centre which will come on stream in July.
“The change is not a simple one. It is not like in the private sector who know what to do.” He continued, “It’s not all bottom line. You have to maintain a stable environment and recognize that these are people that you’re dealing with. That’s a little bit different than just looking at a profit motive. “Whatever approach you take, it has to be gentle, accommodating and it has to make provision for those being transitioned out.”
By: Robyn Adderley (BIS)
Photo Caption: Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest, made a presentation on the 2018/2019 Budget, currently being debated in the House of Assembly to the business community at the Grand Bahama Chamber of Commerce Business Luncheon on Friday, June 15, at Pelican Bay resort.
(BIS Photo/Lisa Davis)
Bahamas News
Get your laugh on, March On, family drama by Gea Pierre, debut this weekend in Turks and Caicos
This is the sixth edition of the relays and the fourth time that The Bahamas has hosted the event, which actually made its debut in The Bahamas in 2014.
President, World Athletics, Sabastian Coe said after three very successful editions from 2014 to 2017, the World Athletics Relays has quickly become one of the World Athletics vibrant competitions, developing a culture of fun and innovation that gives it a unique flavour.
He thanked the Bahamas Government, the local World Athletics Relays Bahamas 24 committee and the Bahamian people for agreeing to host the relays. However, his main thanks were to the “world’s best sprinters” travelling from all the continents to compete in preparation for the road to Paris, France, in two months’ time.
During the opening ceremony, the athletes were given words of advice from Carl Lewis, one of only four Olympic athletes to have won nine Olympic gold medals, who is widely recognized as one of the greatest athletes of all time.
He said, “Keep it simple, do not try to do anything extra. Do what your coaches said. Leave on time, leave on time, leave on time.”
The athletes and crowds were treated to the sounds and sights of Junkanoo at the end of the opening ceremony. The Junkanoo performers stuck around for the two days of competitions, playing for the sprinters as they competed on the track.
Teams competed in the Women’s and men’s 4x100m, and the women’s men’s and mixed 4x400m. A total of 14 teams at the World Athletics Relays Bahamas 24 automatically qualified for places at the Paris 2024 Olympic Games. Both days of competition were important, as day two offered another chance for qualifications for those teams unsuccessful on day one.
Bahamians were made proud as the country set a new national record during the mixed 4x400m relays thanks to the efforts of 16-year-old Shania Adderley, a student of Tabernacle Baptist Academy.
The team came first in their heat on Sunday evening after not being able to gain a spot for the Paris Olympics on the first day of competition.
Other sprinters on the team included Alonzo Russell, as well as Olympic champions Steven Gardiner and Shaunae Miller-Uibo.
NASSAU, The Bahamas – During his remarks at the Opening Ceremony for the World Athletics Relays 2024, on May 4, Prime Minister and Minister of Finance the Hon. Philip Davis welcomed the special guests, athletes, officials, and “all lovers of athletics from around the world” to the Thomas A. Robinson National Stadium here in the “vibrant heart” of Nassau, Bahamas.
“This weekend, the world’s finest athletes gather on our shores to embark on a journey that is not only about speed and strength but also about dreams and determination,” Prime Minister Davis said. “From the serene beauty of our islands to the historic grandeur of Paris, this event marks a crucial path to the Olympic Games in Paris 2024.”
He added: “Here in The Bahamas, we are no strangers to world-class athletics or the warmth and exuberance that such international gatherings bring. It is a distinct honor to once again welcome the World Athletics Relays back to our islands. This event holds a special place in our hearts, symbolizing a bridge between nations brought together by the universal language of sport.”
Prime Minister Davis noted that that year’s theme, “Paradise to Paris,” captured the essence of that journey.
“It is here, amidst the splendor of our sun-kissed beaches and the rhythmic sway of our palms that the chase towards Olympic glory begins anew,” he stated. “We are thrilled to offer a backdrop of unparalleled beauty, where every sprint, every baton pass, and every victory lap is set against the picture-perfect canvas of our islands.”
He added: “To our athletes, I say this: as you stand on the precipice of your dreams, ready to catapult yourself into the annals of history, know that you are part of a legacy of excellence and determination. This weekend, you are not only competitors but also ambassadors of your countries and the spirit of sport. We are especially proud of Team Bahamas, who carry the weight of their performance and the hopes and pride of our nation. You embody the spirit of The Bahamian people, and we are behind you every step of the way.”
Prime Minister said that to the international visitors, he extended “the warmest Bahamian welcome”.
“Over the next few days, as you revel in the thrill of competition, take a moment to bask in the beauty of our island,” he stated. “Discover why we proudly say, “It’s Better in The Bahamas.” Whether it’s the hospitality of our people, the tranquility of our waters, or the rhythm of our culture, you are in for an experience that captures the heart and rejuvenates the soul.”
“Let us celebrate the unity and friendship that sports foster, cheering every athlete and savoring the spectacle of human potential at its best,” Prime Minister Davis added. “I hope the races are swift, the results are inspiring, and the memories are lasting.
“Welcome to The Bahamas, the paradise where champions chase their dreams to Paris. As your host, it is my immense pleasure to declare the World Athletics Relays Bahamas 2024 officially open. Let the games begin.”
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