The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

VILLAGE Road businesses are seeking “two umbrellas” of relief for damages and losses due to prolonged roadworks impacting the area.

Michael Fields, spokesperson for the Village Road Business Collective, which represents impacted companies, told Tribune Business he does not want to pre-empt the Government’s promised “counter-proposal” on a relief and economic stimulus package while voicing optimism that it is circling back to address the situation.

He explained that the business community’s request for support falls under “two umbrellas”, with the first being the “repair, restoration and cleaning” of companies that were affected by the prolonged roadworks. They want their businesses to be returned to the state their premises were in prior to the roadworks, which lasted for more than one year, whether the assistance comes in “grant or in-kind support”.

The second priority is “economic relief” that can come through “various tax incentives, tax rebates, Business Licence and real property tax waivers”. Stimulus can come from the business continuity grants available via the Small Business Development Centre (SBDC), as well as marketing and promotional support to bring customers back to the area.

Michael Halkitis, minster of economic affairs, addressing the Prime Minister’s Office media briefing, indicated that the Government is examining what tax breaks and other relief it can offer to the Village Road businesses but provided no specific details. “We have had several meetings with them. They have submitted to us a list of businesses, and a proposal for some form of relief they would like to see.

“We are studying that, and we expect to come back to them with a counter-proposal very shortly so that we can move towards a conclusion. The Ministry of Finance will be working in conjunction with the Ministry of Works, because there are some instances where slight repairs need to be made to property, for example, to driveways and walks, etc.”

The last Christie administration set a precedent for providing such relief when it offered tax breaks and other assistance to businesses located on corridors impacted by the New Providence Road Improvement Project, especially in the areas of Blue Hill Road, Robinson Road and Prince Charles Drive.

Mr Halkitis, meanwhile, said the Government is still seeking a resolution to petroleum retailer calls for margin increases. “We’ve been having discussions with the retailers and wholesalers to see how we can adjust the system that is currently in place to bring some relief, particularly to the retailers who have been clamoring. And, of course, I say, once again, our view is that any solution should not lead to the immediate impact of increasing prices at the pump or Bahamians,” he said.

“So that is something that we continue to work on. We have another meeting scheduled for this this week upcoming following the holidays, and it’s a very complex issue that involves private contracts between individuals. And so we want to make sure that any solution that we propose, the foremost thing for us is that it actually brings relief and it does not lead to a direct increase at the pump immediately.”