By Fay Simmons
Tribune Business Reporter
A former prime minister yesterday asserted that corruption and crime cost the Bahamian economy around $1.5bn per year.
Dr Hubert Minnis, speaking in the House of Assembly, alleged that corruption has resulted in a $700m loss to the Bahamian economy per annum. He added that crime and murder result in a further $100m loss, while around $400m to $800m in potential investments are deterred by corruption.
The Killarney MP also criticised to last week debate and pass foreign affairs legislation, and yesterday’s financial-related legislation, rather than tackle the “most pressing issues” such as crime, corruption, employment and healthcare.
“I find it curious that the first Bills of Parliament last week and this week have little to do with the most pressing issues in our country, such as job creation, crime, corruption and healthcare,” said Dr Minnis.
“I still hold the position and maintain that we need a Commission of Inquiry into the police force. Corruption contributes to about a $700m loss to the Bahamian economy. And, according to the IDB, murder contributes about a $100m loss to the Bahamian economy, that in itself. In addition to that, the loss of investment...in monetary terms that’s about $400m to $800m. Well in excess of $1bn.”
Dr Minnis said if the Davis administration only takes on the $700m loss to the economy due to corruption there will be more funds available to improve healthcare, social services and education.
“If we tackle corruption alone, you would have more monies to deal with a lot of issues. To deal with the problems faced in the health industry, to deal with our social services problem, to deal with educational problems,” said Dr Minnis.
He added that eliminating corruption will also result in the Government having more funds available to invest in entrepreneurs by offering support to the Small Business Development Centre (SBDC).
“But in addition to that, most important thing that I’m sure the Bahamian people would want to know, is it possibly places you in a position where, rather than increasing taxes, you can decrease taxes, and you have more monies available for the SBDC that we spoke about, so that the young people and entrepreneurs and investors... Bahamians would have more money to commence their project,” said Dr Minnis.
He also said the shortage of medication in the public healthcare system is a problem that “needs to be corrected” as many low income patients struggle to purchase medication from private pharmacies.
“Individuals go to the medical facility. They pay $10 and they’re struggling with paying that. They’re struggling with paying that. They go to the facility, and because of the shortages of medicine, they’re given prescriptions and asked to collect the medication from the pharmacy. You think if they cannot afford $10 they could afford any medication? No. They cannot afford the medication. These are problems that need to be corrected,” said Dr Minnis.
Comments
ExposedU2C 3 weeks, 2 days ago
LMAO. The very corrupt Tyrant Minnis should know more than most about the huge toll that corruption takes on our small nation and most of its people.
birdiestrachan 3 weeks, 2 days ago
To bad he did none of this when he had the chance he should hide his face in shame if he had that kind of intelligence. Where is he getting these figures from . From a brain in park a long time ago. Putting poor black young men in jail for selling coconut water and putting rocks in the road to make obstacles in a public road is what he is about doc Bahamians still remember.
sheeprunner12 3 weeks, 2 days ago
$700 million ....... scratching the surface, I guess
Porcupine 3 weeks, 1 day ago
Minnis, you missed it by about a factor of 10. You failed to include the very real lost opportunity costs that come from those who would be willing to invest in The Bahamas, but for the rampant dishonesty, corruption and theft that occur with every transaction here. Even the supposedly legitimate contracts and services provided by our own people are highly inefficient and politically motivated. No forward progress can be made when politics taints every aspect of a society, such as ours. Politics has eroded our ethics and has promoted very poor performance. To the point where most Bahamians could never hold a job anywhere reliability, competency, and honesty are required. We have allowed this completely unChristian behaviour to fester for too many generations now. We know for a fact that not one word from a politician's mouth can be believed. All we care about is what little we can get for ourselves. We have turned into a very, very selfish nation with little prospect for the future, having invested little in education and the social conditions needed to keep decent people here. Those who manage to get educated and seek better for themselves would never stay in The Bahamas. We are backwards thinking with no vision and a short-term live-for-today mentality. We have far too many fatherless children who have no guidance especially because single mothers receive little to no help from our selfish politicians. The writing is on the wall, for those few Bahamians who still manage to read. Our politicians are worthless, greedy, corrupt, and self serving. That is why our nation is in the dire and disgusting state it is in. If we fired and expelled every person who is, and has ever been in politics in this country, and replaced all of them with recent graduates from our high schools, despite them having no experience, we could do no worse than we are doing now with Davis and company and all the other politicians who supposedly are there for our benefit. Dr. Minnis, what the true cost of corruption, dishonesty, incompetence and crime are costing The Bahamas cannot be measured in dollars. We have lost our country and the chances of seeing a place where our children can live are dwindling by the day. Personally, I think it is too late. We have already lost far too many of our educated and decent people who have realized that The Bahamas has become what it is today; a place where there is a lot of talk, but we continue to go backwards as a nation. We have no good leaders, Minnis. Is it really a wonder why?
DWW 3 weeks, 1 day ago
the one with major shares in a hopshotel that made big money on govt contract in pandemic days? that is the one who wants to talk about curruption??? really??? Well I guess the people dem memory is short and no one really know the full picture what happens in bahamas govt without FOIA which this man did nothing about. he had his chance and he can sail into the sunset without the phat phat free money pension for 2x PM's.
Sign in to comment
OpenID