The Tribune

EDITOR, The Tribune.

In his bid to mislead and manipulate the public/taxpayer Mr Foulkes, Minister of Labour says “The government plans to introduce a mechanism that ensures consumers in The Bahamas benefit from duty reductions on certain goods,…”

This “mechanism” can only be price controls and they have a morbid history around the world and the fact that they have been abandoned as public policy should be a hint for policy makers here at home.

Most reasonable people understand that business has to operate at a profit in order to survive and in our high cost, high tax country that’s a difficult task that is exacerbated with the new Business License Tax structure.

With less duty being charged, margins will fall so businesses might need to increase mark ups if sales do not increase enough to compensate.

The Minister of Labour should have a better grasp of these issues if he hopes for businesses to succeed and the economy grow so people stay employed and government protects its revenue streams.

A look around the world where rhetoric like this is perpetuated by government you will note those countries are not ones The Bahamas should attempt to emulate.

Newspeak from the political class is destructive and should have no place in The Bahamas.

And to think the “stakeholders” (The Bahamas Chamber of Commerce I presume) could agree to this is astounding.

Yours in Liberty,

RICK LOWE

www.weblogbahamas.com

Nassau,

January 12, 2018.