The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Democratic National Alliance’s (DNA) leader yesterday said the party had unveiled “a road map to salvage the economy”, while denying that its campaign platform was making promises it cannot keep.

Branville McCartney told Tribune Business that, if elected to office, the DNA had “no other choice but to fix” the many ills plaguing the Bahamian economy and society, as it set out an ambitious, wide-ranging agenda for governing.

The DNA leader said the proceeds from a National Lottery, which the party would introduce during its first year in office, would go towards a promised $500 million economic stimulus plan.

He added that the party’s goal of reducing electricity bills by 50 per cent would return $18 million per month to Bahamian consumers, providing another element to plans to revive consumption spending - something economists believe drives two-thirds of national economic activity.

“We believe the country can be salvaged,” Mr McCartney told Tribune Business. “We believe we have the plan, the road map to salvage the economy, and that is outlined in our Vision.

“We can do it. We have no other choice but to do it. These are things that must be done. These are things we have no other choice but to do it.

The DNA’s campaign platform offers something for everyone, seeking to appeal to the private sector by promising a ‘flat rate’ Business License fee, and workers by offering a 19 per cent minimum wage increase from $210 to $250 per week.

While some may suggest the party has little prospect of being elected to office, its Vision2017 document calls for energy sector and exchange control liberalisation; the passage of anti-corruption legislation; a two percentage point reduction in interest rates; an enhanced Public Disclosure Act; the creation of a Land Bureau and Public Sector Management Corporation; and Junkanoo Carnival privatisation to all be accomplished within the DNA’s first year in government.

Asked whether the party was over-promising, and offering things it would be unable to deliver, Mr McCartney told Tribune Business: “This is do-able. This is possible.

“We are there to work. We’re there to make a difference. We’re not just there to give promises like Dr Minnis. Dr Minnis indicated he’d have these tax-free zones in the inner city. That’s a comfort to a fool.”

Mr McCartney said Vision2017 had outlined what the DNA planned to do and how, although the document - in common with many party campaign platforms - did not go into detail.

He added that combating crime and the fear of crime, together with reducing unemployment and getting Bahamians back to work, would be the DNA’s priorities.

“We must stop the wastage going on in government and make sure we collect the taxes we have now,” Mr McCartney said.

“We’re going to introduce a National Lottery that will go partly towards that [$500 million stimulus]. We will reduce electricity bills, which will put more money in the hands of the Bahamian people and help to expand the economy.”

Outlining the DNA’s five-year objectives, Mr McCartney added: “At the end of five years, the DNA will have expanded opportunities in the financial services sector; diversified our tourism product; added a 1 per cent of GDP surplus to our annual budget; reduced unemployment to 8 per cent; created new industries in technology; restructured the Immigration Department and cut wait times for permits and visas in half.”

He added that it will also have “increased the Gross Domestic Product by 5 per cent with projections to grow by another 10 per cent within the next five years; put in place a comprehensive mortgage relief and distressed property programme for consumers; created an average savings of 33 per cent on the cost of energy per consumer; increased the number of mobile service providers; increased the amount of broadband service providers; created more sustainable jobs in banking and in tourism, and much more”.