Peter Turnquest. Photo: Chappell Whyms Jr
By LYNAIRE MUNNINGS
Tribune Staff Reporter
lmunnings@tribunemedia.net
FORMER Finance Minister Peter Turnquest accused the Davis administration of watering down fiscal laws that promote transparency and accountability.
“One of the things the government did almost immediately coming to office is getting rid of the fiscal responsibility laws,” Mr Turnquest said.
“Those laws are put in place particularly to protect the Bahamian people and give them an opportunity to ensure that they were well informed by an objective body on the policies that the government was putting in place to ensure that they align with the pronouncements and the budgets they have been putting forward. As we all know, those provisions have been watered down and the fiscal responsibility council itself has been disbanded and that is terrible.”
The Davis administration repealed the Fiscal Responsibility Act last year and replaced it with the Public Finance Management Act. Critics noted that under the new law, all five members of the fiscal responsibility council are appointed by the minister of finance. Previously, they were appointed by the Speaker of the House.
The council must assess the government’s fiscal strategy report, the mid-year review, the annual budget, and the government’s audited annual accounts.
The council must help ensure the government’s compliance with the Fiscal Responsibility Act and can report directly to Parliament.
“What we have seen, unfortunately, is that this government has made any number of changes to policy without coming to the Parliament and explaining to the Bahamian people why they are making the changes, what those changes are, and what the implications of those changes are,” Mr Turnquest said.
“I think that it is terrible and for a government that comes to power talking about, again, which has become a popular catch phrase –– accountability and transparency –– it is condemnable that they would come and change those laws just willy-nilly without explaining to the Bahamian people clearly why they made the changes that they made.”
Comments
ExposedU2C 6 months, 2 weeks ago
KP Turnquest is just more useless dead wood popping out of the wood work now that the smell of a national election is in the air. Too many of these political hacks think they are the only one's capable of serving as a cabinet minister.
We must never forget that Turnquest, as minister of finance under the last FNM government led by tyrant Minnis, approved over $200 million dollars of our country's scarce financial resources being literally squandered on the purchase and failed renovation of the Grand Lucayan property. And when he had the opportunity, he failed miserably at addressing much more important things, like BPL's financial woes.
birdiestrachan 6 months, 2 weeks ago
This is the same fellow who could not find 40 million and God knows with sky and the money vindicated really
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