By KHRISNA VIRGIL
Tribune Staff Reporter
kvirgil@tribunemedia.net
STATE Finance Minister Michael Halkitis yesterday defended the government’s fiscal track record saying the opposition’s criticisms of the 2015/2016 budget projections are “mischievous” for the sake of political gain.
Following Prime Minister Perry Christie’s budget presentation last week, the Free National Movement has attacked it, calling the communication a “fanciful” document filled with misplaced optimism. The party’s Deputy Leader Peter Turnquest has also accused the government of using “some trickery” in the budget numbers for the current and future fiscal years.
However, Mr Halkitis shot back at the opposition during his contribution to the 2015/2016 budget debate. He said it was “troubling” that Mr Turnquest has insinuated that the Christie administration has manipulated fiscal data with a view to presenting a more favourable portrait of the nation’s finances.
“Mr Speaker, I have no reservations in saying that such statements and insinuations are simply preposterous and they are mischievous for the sake of political gain,” Mr Halkitis told parliamentarians.
“They are irresponsible coming as they do from the deputy leader of the opposition. Governments in this country have over the years been under the microscope of international rating agencies. (Before) the international financial organisations (we) have succeeded in building this country’s reputation of sound fiscal reporting.”
He added: “I have seen and I have gone on road shows when they seek to raise money on the international market. Mr Speaker, I have sat across the table from analysts who, with a very fine tooth comb, go through all of the financial statements of the government. These are not people who are easily fooled by some slight of hand. I want to assure the deputy leader and honourable members, Mr Speaker, that the rating agencies and investors and analysts pore over our fiscal account with a fine tooth comb as part of their regular review and ratings process.
“In the circumstances, the deputy leader’s so-called fiscal trickery would be pointless and would be highly embarrassing to the Bahamas’ hard earned reputation as being fiscally responsible.”
Mr Halkitis said to support the government’s claim of an improved fiscal picture in the country, several other duty rate reductions and eliminations were on the way.
At the behest of straw market vendors, he said the duty rate on costume jewellery would see a reduction.
The government is also expected to amend the Tariff Act so that all returning residents, including students who have been pursuing an education abroad for two consecutive years, can have the advantage of being allowed to bring up to $10,000 of their personal effects and one vehicle valued at up to $30,000 back home duty-free.
Certain items categorised as surgical equipment are also set to see duty rate reductions, Mr Halkitis said.
The budget debate continues on Monday.
Comments
duppyVAT 9 years, 5 months ago
What do you expect the architect of Perrynomics 2.0 to say????????????
He is an important accessory to the PLP crimebosses who are hoodwinking the citizens of the Bahamas
Well_mudda_take_sic 9 years, 5 months ago
Does Halkitis have any idea how many countries have been led down the garden path to financial disaster as a result of blindly accepting unsuitable economic and social policies foisted on them by foreign "check the box" bureaucratic academics employed by the likes of the IMF, World Bank, IDB, WTO, etc.?! Halkitis should know full well that these same international organizations have time and time pointed out to our government the very serious short comings in just about all of the financial and management reporting systems within our public sector. The ever increasing size of Halkitis's head is probably symptomatic of too much fat between the ears which is limiting his ability to think straight or tell the truth.
Emac 9 years, 5 months ago
@TRIBUNE STAFF: Please get your act together and protect these pages from hackers. Some of your pages are being redirected to an unwanted XXX site. Please be responsible. You have a lot of members who have signed up with personal information. This site should have a SSL certificate to encrypt data and to prevent hackers from attaching foolishness to your pages. Therefore a lock should be seen in the browser? If the person that you are paying is incapable, please let me know and I will gladly secure your site pro bono! SMH
ADMIN 9 years, 5 months ago
This comment was removed by the site staff for violation of the usage agreement.
birdiestrachan 9 years, 5 months ago
Mr Halikits is a brilliant young man and he also carries himself like a gentleman. Not mean spirited. The Bahamas need more young men like him, The truth is the PLP attracts the smarter people. unlike the FNM. they also are very charming. this is true.
duppyVAT 9 years, 5 months ago
Take a backseat ............... Bradley Roberts!!!!!!!!!!!!!!!
birdiestrachan 9 years, 5 months ago
DuppyVAT that stronger Bahamas commercial is really good. No matter one has to be proud of that young man who is speaking . And it is important that all of us do our part to make our beautiful country that God has given to us a better place. I love all of you on this site.
TheMadHatter 9 years, 5 months ago
The deputy leader of FNM was wrong to use such words. He would have been much wiser to simply point out the FACT that the details remain missing this year about the salaries and number of positions of government worker categories and job titles, and in addition to that tons of other information has been left out (or simply subtotalled without the detailed figures) regard debt and debt payments and VAT.
Those would have been facts. There is no need to use insulting language and personal attacks. Use facts. Either the Paradise Island bridge has been fortified or it has not, either landing fees are going up or they are not, very simple. Financial stuff is a LOT easier to quantify and discuss with facts than, say, social services stuff where you have human factors and emotional factors involved. Wise up guys. Like they used to say - act your age not your IQ.
TheMadHatter
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