Categorized | National News


In the wake of the release of a Fiscal Snapshot yesterday, the  official Opposition spokesman on Finance, Chester Cooper, yesterday  charged that the revenue collection is significantly under budget; which is an indication that the government’s projections are not being met. 

Further, he found the potential for seasonality in revenues to serve as a major red flag. 

Mr. Cooper said, “The so-called expert modelling and tax hike itself were ill-advised.” 

He added that he expects that there will be even more tax increases, added borrowing or massive recessionary cut backs by the end of the year. 

He also said that many expenditure items are below budget, and this is may be because of timing and a delay in payment.

Mr. cooper believes this may be code for “cash management” adding that “what it shows, if anything, is that the government’s engaged in guesswork with its projections and no sound reasoning went into its lofty expectations”

He added that if this report is to be taken as a “literal barometer of tax collection, then the government has much ground to cover in meeting its goals, even during the October to December period which is usually more robust”.

Further, the treatment of the Grand Lucayan purchase he said, needs special scrutiny.

Mr. Cooper suggested that the Minnis Administration focus more on growing the economy and providing job opportunities through innovative programs and legislation. 

He added that less time be given providing cabinet ministers beneficial contracts through what he called parliamentary shenanigans. 

Overall, he acknowledged that the fiscal snapshot is a commendable effort at timely reporting.

Written by Jones Bahamas

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