thebahamasweekly.com - Prime Minister & Minister of Finance on Opposition false claims on taxes

From:TheBahamasWeekly.com

Bahamas Information Services Updates
Prime Minister & Minister of Finance on Opposition false claims on taxes
By Central Communications Unit, Ministry of Finance
Jul 19, 2021 - 10:21:15 PM

OFFICIAL STATEMENT

Prime Minister the Honorable Dr Hubert A. Minnis, Minister of Finance responding to false claims and fear mongering by Leader of the Opposition on Government tax plans

It is a flat out lie for the Leader of the Opposition to say or suggest that I am planning on raising taxes immediately following any prospective election.

Unlike the PLP when they were in office, my government operates on the basis of sound fiscal and economic planning and policy development.

We recently articulated our Accelerate Bahamas plan during the budget, on the heels of the incredibly successful execution of the Resilient Bahamas plan during the last fiscal year.

In our Accelerated Bahamas plan we transparently laid out our tax plans and our economic policies to boost entrepreneurship and job creation. Our tax plans were designed to stimulate economic growth in the southern islands and to ensure entrepreneurs get access to long-desired concessions. In keeping with our three-year fiscal strategy, our targeted measures to generate new revenue are focused on compliance and collection of existing taxes, and high-value, niche industries that are now paying their fair share.

We have a plan. We are sticking to the plan. That is why from January to June 2021, we beat our revenue projections for that six month period. That is why for the month of July, up to last Friday [July 16th], our revenues are tracking ahead of budgetary projections for month to date as our economy roars back to life.

While we appreciate that the notion of organized and strategic governance is an alien concept to the opposition, given their woeful performance in the past, we ask that they refrain from making up nonsense to deflect from the fact that the economy of The Bahamas is on its way back to full recovery under the stewardship of this FNM government.