The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Government is “not talking enough about fiscal reform” according to a leading private sector executive who urged the Government to make fiscal responsibility a “very high priority”.

Robert Myers, chairman of the Bahamas Chamber of Commerce & Employers Confederation (BCCEC) in an interview with Tribune Business, underscored the need for the Government to legislate fiscal responsibility. “The government is not talking nought about fiscal reform enough. Some of those fiscal reform issues are not being dealt with. We need a Fiscal Responsibility Act. The government hasn’t even begun to talk about that,” said Mr Myers. While the government has now announced an across the board Value-Added Tax (VAT) rate of 7.5 per cent and much fewer exemptions as recommended by New Zealand tax experts, Mr Myers noted that New Zealand’s Fiscal Responsibilities Act was a key component to that nation’s overall fiscal and economic reform package.

“Right now the government is wrapped up in other issues but I can assure you that issues of equality are not going to get any better if the economy collapses.

“We would urge the government to make fiscal responsibility a very high priority. Although we are very much for equality we would hope that the government is capable of dealing with the Fiscal Responsibility Act, the Freedom of Information Act and matters of equality because they are all very important but if the economy collapses we’re all in trouble,” Mr Myers said.

He added: “I’m very sympathetic of the government because it’s a very difficult time for all of us but I believe that if we put our heads together and we work together we can bring about the change that we need.”