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YOUNG MAN'S VIEW: Cabinet Report – Top marks or bottom of the class?
Adrian Gibson continues his analysis of the performance of members of the Cabinet - complete with their grades - below and on the following two pages.
Top QC: Reduce debt ratios to pre-crash level
A top QC yesterday warned it was vital that the Government allocate a “significant amount” of tax revenues to paying down the $6 billion national debt, arguing that its priority had to be reducing the debt-to-GDP ratio to pre-2008 recession levels.
CIBC lay-offs 30% below projections
CIBC FirstCaribbean International Bank (Bahamas) managed to cut projected lay-offs by 30 per cent through switching employees to other posts, as one-off charges forced into a record $147.8 million net loss for its 2014 financial year.
Ex-minister ‘in dark’ on F’port committee role
A former Cabinet minister yesterday said he only found out the Government wanted to appoint him to the committee that will determine Freeport’s future when it was announced in the House of Assembly.
Lightbourn tells govt not to make promises it can’t keep
MONTAGU MP Richard Lightbourn suggested the government should “refrain from making promises they can’t keep” pointing to the lack of employment growth in the country in recent months.
‘It doesn’t jive’: Gov’t spending outpaces revenue
THE Government’s recurrent spending continued to grow at a faster rate than revenues during the 2014-2015 Budget year’s first half, with the Opposition yesterday arguing that the Prime Minister’s optimism “doesn’t jive” with the fiscal reality.
Energy subsidies cost Bahamas 1% of GDP
The Bahamas is giving away a sum equivalent to 1 percentage point of gross domestic product (GDP) in pre-tax subsidies to its petroleum and energy sectors, the second-highest number among Caribbean oil importers.
Bahamas urged: ‘Don’t spook clients’ on HSBC
The Bahamas must be careful “not to spook” its high net worth clients over last week’s HSBC revelations, with politicians, businessmen and ex-ministers united in their call: “Don’t assume the worst.”
FINCO profits slump 91.4%
Finance Corporation of the Bahamas (FINCO) saw its profits slump 91.4 per cent for the year ending October 31, 2014, primarily due to a more than four-fold increase in loan loss provisioning to $35.595 million.
Mitchell creating relations with Middle East
LAST year, Foreign Affairs Minister Fred Mitchell announced that he was taking a year off to create relationships that would assist in the development of business and investment for the Bahamas. His first target was the Middle East — specifically the United Arab Emirates and Qatar.
‘Far too premature’ for PM to claim VAT success
A well-known businessman yesterday said it was “far too premature” for the Prime Minister to boast about Value-Added Tax (VAT) being successful, accusing him of “gloating” over the hundreds of millions of dollars the tax will suck out of the Bahamian economy.
Gov’t targets ‘balanced Budget’ until end-June
The Government is targeting a near-balanced Budget for the fiscal year’s second half, a target that one private sector executive yesterday described as “very ambitious”.
Increase in jobs not keeping up with growing labour force
PRIME Minister Perry Christie yesterday said it would be “incorrect” for anyone to interpret the latest unemployment statistics as suggesting that net jobs have been lost in the Bahamian economy.
YOUNG MAN'S VIEW: Grading the Cabinet
Bernard Nottage Dr Nottage has failed dismally in his role as Minister of National Security. He has the toughest portfolio and, unfortunately, this crime situation is a social issue (parenting, poverty, etc). No amount of police could fix this; the crime dynamic is bigger than police.
PM touting $600m GDP growth under his Gov’t
The Prime Minister yesterday touted IMF projections showing the Bahamas’ real economic output will expand by $600 million under his administration, while admitting the economy is still not growing fast enough to “absorb” a rapidly-expanding labour force.
Jobless increase is ‘storm in a tea cup’
Politicians were yesterday urged to “stop the blame game” over the recent unemployment rate increase, as the Prime Minister described the matter as “a storm in a tea cup”.
BTC faces 20% income cut via monopoly end
The Bahamas Telecommunications Company (BTC) is bracing for a 20 per cent cut in income over the next four years as a result of losing its lucrative cellular monopoly, it was revealed yesterday.
Cable to BTC controller: ‘We’ve proven ourselves’
Cable Bahamas last night shrugged off efforts by the Bahamas Telecommunications Company’s (BTC) controlling shareholder to dismiss the potential competitive threat it poses in the mobile market, saying: “Our record speaks for itself.”
Customs targets $15m ‘border VAT’ monthly
The Customs Department is forecast to collect an average $15 million per month in ‘border’ Value-Added Tax (VAT), a Cabinet Minister pledging the Government would not increase the 7.5 per cent rate “any time soon”.
‘Carnival is no risk to society’
JUNKANOO Carnival Commission Chairman Paul Major yesterday defended the inaugural festival from critics who argue it would lead to social degradation, and said it was an “undeserving indictment” to “say that Bahamians can’t conduct themselves in a festive atmosphere.”
