NASSAU, BAHAMAS- Economist Edison Sumner slammed successive governments Monday morning for failing to implement an increase in contributions to the National Insurance Board (NIB) over the last 20 years.
His comments came days after the Davis-Cooper administration announced that it would implement a 1.5% increase in NIB contributions as of July 1, 2024.
Minister with responsibility for NIB Alfred Sears announced in parliament last week that the increase, which takes effect this summer, will also be increased bi-annually by 1.5% over the next 20 years.
While he chastised successive administrations for “kicking the can down the road,” he also called for a comprehensive review of NIB’s operations and overall efficiency.
