The Tribune

By AVA TURNQUEST

Tribune Staff Reporter

aturnqest@tribunemedia.net

ELIGIBLE businesses will be allowed to customize their benefits under the government’s Road Work Compensation Programme, according to Ministry of Finance executive Simon Wilson.

Yesterday, business owners and government officials urged affected businesses to take advantage of the programme as a realistic effort to move past the financial devastation wrought by the New Providence Road Improvement Project.

“Persons may make an appeal and there may be some modifications. Some people might not get all or want all the benefits,” Mr Wilson said.

“We’re here to assist small businesses so people can come in and provide information and we can look at the programme, we will not turn anyone away. We realize each business is unique and their circumstances are unique.”

Acknowledging the government’s package as “too little, too late”, affected businesses on Robinson Road lamented the need to move forward and seek initiatives that can revive economic activity in the area.

Brent Burrows, director at Commonwealth Building Supplies, said: “In reality the compensation that is given is going to be peanuts for a business like (Commonwealth Building Supplies).

“Our losses are in the millions, our store still hasn’t recovered from the loss. Business traffic, foot traffic on Robinson Road has basically disappeared. But the reality is that the government doesn’t have the funds to do it.

Mr Burrows added that total financial compensation is not only impractical but could be counterproductive, as it would ultimately necessitate an increase in taxes levied on all businesses.

“If the government tried to do something for the small mom and pop stores that actually closed down, I’d prefer they do that,” Mr Burrows said.

“That would get the economy going, get the area back to how it was. But I don’ t know it’s a tough one for the government it just doesn’t have the money.”

The government released details on road work compensation earlier this week.

Programme components include: the creation of a deferred electricity payment plan and 50 per cent bill cut for closed businesses in arrears; discounted advertising with the Broadcasting Corporation; customs duty deferment; a micro loan facility with a cap of $10,000; and business license and property tax rebates.

Opponents to the programme argue that listed benefits are a far cry from the “full compensation” promised to affected businesses during the general election campaign period.

As the government readies itself to commence benefits next week, the Coconut Grove Business League (CGBL) has announced plans to refile for damages in the Supreme court, and if necessary the Privy Council. Spokesman Ethric Bowe said the league has no plans to stop the now two-year-long crusade to seek justice for small businesses and damages from the government.

Mr Bowe noted that the league would lobby for the creation of “customs credits” under the programme; however, this initiative was shot down by officials and consultants yesterday.

Consultant Mark Turnquest said: “I don’t believe in that type of transfer is appropriate, if you can keep the exemption for yourself or perhaps transfer it to another one of your businesses that may be fine, but this type of transaction would diffuse and complicate concessions. It would open a can of worms.”

According to a finance official who wished to remain anonymous, the creation of such credits would be irresponsible as it would allow larger businesses to prey on smaller cash-strapped companies.

The official said: “The government’s programme isn’t perfect, but we think it’s the best that can be done in the circumstances. We’re running a deficit of six per cent, further borrowing would be irresponsible.”

The deadline for submission to the government compensation programme is January 18.