The Tribune

By SANCHESKA BROWN

Tribune Staff Reporter

sbrown@tribunemedia.net

OPPOSITION Leader Dr Hubert Minnis said yesterday, if elected, the Free National Movement would “seriously consider” establishing a catastrophic fund to ensure the financial burden of a natural disaster “does not solely rest on the government”.

He said he understands why the Christie administration intends to borrow money for the necessary repairs to the Family Islands left damaged by Hurricane Joaquin but the responsibility to assist is not just the government’s alone.

Dr Minnis told The Tribune that the proposed fund, which would be financed by the Bahamian people, would ensure that in times of crisis the government would have money to rebuild and recover.

“This is something I have discussed before, but people thought I was crazy,” Dr Minnis said. “If this fund is established, when natural disasters occur like hurricanes or floods, we will be covered. We can have a disaster at anytime and if all of us are paying toward the fund then the burden will not fall on the government alone.

“You would be surprised how many people would not have a problem paying toward this fund if they knew it would help their brother or sister in times of crisis. We are talking about human lives, having a home, ensuring kids go to school - as far as I am concerned no money can be placed on lives and future. It is my job to improve the quality of life.

“As a country we need to look at how best to protect Bahamians in the case of a natural disaster and if you have this fund then you have something to fall back on. Once there is accountability and transparency and corruption is wiped out, I think the average Bahamian would have no objection to establishing a fund and contributing toward it. We cannot leave the burden to the government, they have other responsibilities,” he added.

Dr Minnis said the first step in creating the proposed fund would be establishing a committee to look into how the money would be collected.

On Wednesday, Prime Minister Perry Christie said the government’s initial assessment has pegged the price tag of hurricane damage at over $60m.

This figure, he said, is expected to increase as the Ministry of Finance continues to receive additional assessments.

Mr Christie said the amount needed to cover the cost of this recovery and repair phase is likely to be funded through borrowing from either the Caribbean Development Bank, financing from the People’s Republic of China or by other means of traditional sourcing.

Also on Wednesday, Minister of State for Finance Michael Halkitis said the government is in the middle of “reprioritising” funds and may revise its budget projections in January because of the damage brought on by the category four storm.

Speaking at the 2015 Caribbean Institute of Certified Management Consultants, Mr Halkitis added that the hurricane had thrown a “monkey wrench” into the country’s economic recovery plans.