NASSAU, BAHAMAS — The opposition yesterday slammed the government for exacerbating the damage of the COVID-19 pandemic with “lopsided” measures that prevented many businesses from maximizing revenue during the pandemic.
Commenting on the combined first six months’ fiscal snapshot and report for July to December recently released by the Ministry of Finance, Chester Cooper, opposition shadow minister of finance, said: “We maintain that, notwithstanding the headwinds of the pandemic, it did not have to be this bad.
“None of this was unexpected by us, but the government certainly exacerbated the damage with lopsided coronavirus measures that prevented many businesses from maximizing revenue from domestic consumers during the pandemic.”
Cooper added: “We reiterate that the government should have borrowed earlier when paper was cheaper and better targeted the money, but that ship has sailed. However, it is not too late to revisit some of the emergency orders that remain in place on New Providence, Exuma and other islands that are no longer necessary.”
According to Cooper, the falloff in revenue from gaming taxes also suggests that the plan to tax gaming winnings will not yield the desired results.
“What is certain is that the social relief this administration keeps congratulating itself on is not being fully felt on the ground,” said Cooper.
“Indeed, the recent IMF (International Monetary Fund) report pointed out that relief to the 13,500 persons in the informal economy has not been felt or accounted for. Every day we hear heart-rending stories of people in dire need and suffering.
“What is also easy to understand is that cutting $200 million in government funding will have a negative effect on the economy.
“I would add that the competent authority is clearly in breach of the legal requirement to report procurement details and should seek to fulfill his lawful obligation, despite what the attorney general contends. Transparency is not a convenience the government can adopt and disregard at will; it is at the foundation of our democracy and it is the duty of the government to be accountable with the public purse.”
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