My Morning Paper 28th November 2013 The Prime Minister speaks in riddles “PM: I said no to the IMF over increased taxes”-Tribune, Thursday 28th November 2013 Excerpt from this article: “Prime Minister Perry Christie yesterday said that the tool the International Monetary Fund [IMF] to task twice over pressure to implement Value Added Tax, pointing out the descent of other governments in the region. Defending his government’s decision to implement the new tax system next year, Mr. Christie said he rejected the IMF’s recommendation to introduce a new form of taxation during his pervious term in 2002.” The Prime Minister speaks in riddles. Decision to introduce a tax system I will concede the fact that the former administration has created a foreseeable debt while improving the infrastructure of the country and at the same time keeping the country afloat during a global recession, it seems as if the Progressive Liberal Party’s [PLP] plan, had they been in power, would have been to borrow funds to ‘give away’, having no return on the investment while the country crumbled around them but be that as it is, we are at his point where capital has to be raised to buy the countries debt. The former administration, considered a VAT and it may have still been on the board but were seen as ‘demons’ for slowly implementing certain taxes to make it more bearable on the people of the Bahamas while going through a recession. The present administration, then in opposition, vowed to never raise taxes on the backs of the people if elected, this promise soon abandoned because it was unrealistic. It is interesting to note that the PLP boosts about growing the economy during their last stint in power abut did not attempt to over haul the tax system when it would have been the most appropriate time to do so. The Decision to choose VAT While we have the Prime Minister himself “pointing out the descent of other governments in the region.” an effect of VAT it seems that he is willing to go full steam ahead with it. The position that he [The PM] has taken is that if anyone has a better idea then they should suggest it instead of critizing the government’s plans but here in lies the rub. “Earlier this month, Bahamas Chamber of Commerce and Employers Confederation CEO Edison Sumner said talks with the government over alternative forms of taxation has been constructive. However the maintained that the business community was against the governments proposed implementation on the Value Added Tax system”. So, there were talks about alternatives to VAT and they were suggestions given by persons that I think should have an idea of what they are talking about so why is it that the Prime Minister keeps saying that no one has approached him or his government with alternatives, could this be untrue or is he simply unaware? How can the Prime Minister admit that this type of taxation has had negative affects on other countries but still move ahead to implement it while ignoring suggestions of persons more verse in the field of economy than he is? Is this Prime Minister and his administration really in favour of the people or just looking to build a legacy?
Posted on: Thu, 28 Nov 2013 17:22:40 +0000
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