Rolle says gov’t spending and traveling show everything is “hunky-dory”
NASSAU, BAHAMAS — Former National Insurance minister Brensil Rolle said yesterday that he believes the current administration will once again “kick the can down the road” when it comes to a decision to increase NIB contributions.
In an interview with Eyewitness News, Rolle noted that although there have been multiple reports under successive governments outlining the need to increase contributions, there has been a hesitancy to make the change.
“Many individuals are claiming funds and the government has used the funds to service various projects, therefore the fund is not as strong as it used to be,” he said.
Rolle explained that time the government made the decision to utilize the fund for social support in the aftermath of Hurricane Dorian and the COVID-19 pandemic.
“The government was trying to make sure that not only the person’s livelihood was maintained but we did not want companies to let go of individuals after 13 weeks of unemployment assistance,” he said.
“We did not know how long COVID was going to be here and we did not realize the full impact of the hurricane until we went into Abaco and Grand Bahama, but we had to do things in a strategic matter and we did.”
The government launched the unemployment program in March 2020 amidst the COVID-19 pandemic to aid individuals who were unemployed due to the COVID-19 shutdown.
They further extended the program multiple times to more than 40,000 Bahamians.
When the Davis administration came into office, the program was extended from September to the end of December 2021.
Last week, LaRoda said he believed NIB contributions will be increased by 1.5-2 percent within the next year.
He said Cabinet had not made a decision, but he was in possession of an actuarial ILO report that indicated the fund would be depleted in six years as payouts continue to outpace contributions.
However, Davis said while LaRoda spoke about the facts of the situation, it will be the last resort for his administration to put any more burden on the backs of Bahamians.
But Rolle insisted yesterday that the government’s posturing in recent weeks seems to show that they have no financial challenges.
“From what I see, it seems to be that the government has a lot of money,” he charged.
“They are traveling, they are doing things, they are making their presence felt in every event.
“…It looks like things are rosy. The government doesn’t need to restrain anything. The government’s travel patterns, their behaviour and how they are doing things suggest that everything is hunky-dory.”
He said he does not foresee this administration making the decision any time soon.
“I think they will kick the can down the road. They will not make the tough decision. They will just kick it down the road,” Rolle added.
“I think it’s a matter that the government must bring to the people and show them and secondly, they must come with a plan.
“…It’s very difficult to get Bahamians in particular to put money into a fund that many of them don’t believe that there will be anything available to them when they are retired and when they are sick.”
Rolle suggested that the government decide to make the difficult decision to increase NIB contributions, it must come with additional services, pointing to the pension of public officers and benefits for seniors.
“Should there be an increase, the government should be more accountable and they should spell out specifically the benefits that individuals will get as a result of their contributions,” he said.
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