The Tribune

By VOTE YES BAHAMAS

In our 40th year of independence as a country, we as a free people remain on the outside of the lucrative gaming sector in the Bahamas.

Foreigners come to the Bahamas and make millions in gaming, taking profits out of our country to their benefit. Many have even left our shores without paying the taxes owed to our government.

In the regularised gaming sector, which is owned by foreigners, we Bahamians are only allowed to work as labourers while they take home the profits.

Today, we have an opportunity to vote not only to allow Bahamians to participate in gaming in their country, just as visitors are allowed to, but also to allow Bahamian ownership in the sector.

Benefits of Bahamian 
ownership

Increased Bahamian ownership of our economy has some obvious benefits. It means that money stays here in the Bahamas in local banks creating more jobs and more investment in the Bahamas.

The local gaming sector is currently Bahamian owned and operated, and Bahamians work at all levels to serve the thousands of people who patronise these growing businesses.

We are supportive of the 3000-plus jobs created directly and indirectly by the Bahamian gaming industry. The innovative entrepreneurs who have pioneered in this field are at the forefront of the job creation effort in the Bahamas.

A yes vote will extend opportunity to Bahamians employed in this sector in these tough economic times. Those who oppose the regularisation of the local gaming sector jeopardise these jobs. They have not answered the question as to where these people would work if the local gaming sector is shut down. Many single mothers rely on these gaming jobs to take care of their families. The school fees of many children are paid from money earned from people working in this sector.

Why should we as Bahamians vote to cause more unemployment? Why should we as Bahamians vote to put hardship on families?

Responsible local 
ownership

The economic downturn has stressed the government’s finances. There are now projections that there will be a $700 million budget deficit this fiscal year. International credit ratings agencies have downgraded the Bahamas.

More and more Bahamians are becoming increasingly worried about the debt position of our country. The government needs money to pay for the services it delivers to Bahamians and it needs this money urgently.

The local gaming sector has stepped up and is willing to do its part to pay its way in a regularised environment.

Unlike many foreign gaming owners who have not paid what they should to the state, local gaming companies are prepared to pay all taxes and fees owed to the government of the Bahamas.

This would provide the government with millions of dollars it does not currently have to pay for schools, sporting programmes or any other socially responsible initiatives deemed necessary to help advance our Bahamas.

Those who oppose the regularisation of local gaming have no answer as to where the government can find additional revenue in these times. Yet, they turn down money from the local gaming sector which could provide opportunities to thousands of Bahamians.

We can all be owners

We as Bahamians must learn to support each other. The goal from independence was to create a society led by Bahamians where those who work hard could succeed in all spheres.

An open gaming sector could be owned by a broad range of Bahamians, including current entrepreneurs in the sector, businesspeople interested in getting in and other Bahamians who would like to buy shares in local gaming companies.

If we vote yes and open up the gaming industry to Bahamians, young people too can aspire to be entrepreneurs in this sector.

The current system of excluding Bahamians from opportunities in their own country is simply unfair and unsustainable. The current laws prohibiting Bahamians from full participation in this sector send the wrong message to future generations.

We say now that others can enjoy economic freedoms in the Bahamas Bahamians cannot enjoy. We laud the foreign investor who sets up a gaming business and earns wealth, yet we demonise the Bahamian investor who does the same.

Simply put, our current system harasses and frustrates local businessmen and protects foreigners who have little to no concern for the Bahamas and Bahamians.

We should end this practice. In the Bahamas Bahamians must be given first priority in all industries. Bahamians must also be encouraged through laws, policies and incentives to invest and help build the Bahamas.

We as a people only have one country to call our own. If we the Bahamian people are not given opportunities here to thrive then where else in the world should we expect to be masters of our own fates?

Today we can vote to expand economic opportunities to Bahamians or we can vote to keep the current system where foreigners have more rights in The Bahamas than we do. The wise choice is obvious.