Categorized | National News

“A Budget of Misery”, Says DNA

The Democratic National Alliance (DNA)  has lashed  out at the government stating that the new budget is one of misery for the poor and that  the Free National Movement’s administration decision  to consult is a little too late. 

Deputy Leader of the DNA, Arinthia Komolafe in a statement yesterday said that the 2018/2019 Budget presented is a “Landmark budget of hardship” that lacks evidence of economic growth, presented to an economy too fragile for the proposed revenue measures, and stated that the “government must go back to the drawing board”. 

“The level of disrespect displayed by the Government in not consulting with stakeholders and the Bahamian people in the devising of the 2018/19 budget is unacceptable. This action is unbecoming of a government that professes its commitment to accountability and transparency. 

“The uproar, anxiety and backlash created by this ill-advised approach to governance was avoidable. 

“An attempt to consult after the conclusion of drafting of the budget, demonstrates a lack of appreciation for the importance of collaboration and a disregard for stakeholders,” Mrs. Komolafe said.

The statement on behalf of the DNA further said that it is clear that the FNM administration has no plan for growing  the Bahamian economy. 

“In the absence of a plan, the current administration while in opposition took positions for political expediency, without regard for their ability to deliver if they were successful at the general election. 

After just one year in office and the tabling of what they termed “the people’s budget”, the danger of electing individuals without a plan is apparent for all to see. 

“The proposed budget has the fingerprints of international rating agencies and multilateral agencies; it is those people’s budget,” Mrs Komalafe said.

“The FNM government must note that the Bahamian economy remains fragile, unemployment figures remain in double digits in New Providence and Grand Bahama. 

“Despite liquidity within the banking system being approximately two billion dollars ($2B) dollars, individuals and business owners are either unable or unwilling to access capital,” she said.

Mrs. Komalafe stated that from the DNA’s perspective, the proposed budget is for the haves and not the have nots.

“This budget is indeed the people’s budget of misery as the poor will become poorer amidst rising prices in oil, food, energy and services. 

“The services industry which account for more than 60 per cent  of Gross Domestic Product will be the biggest victim in this latest assault on the middle class to cripple the Bahamian economy in a vile attempt to rectify their collective sins of the past. 

“The Minister of Finance described the budget as a landmark and transformational budget. We submit that this is a landmark budget of hardship with the potential to transform the lives of Bahamians for the worse,” Mrs. Komalafe said.

Written by Jones Bahamas

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