NASSAU, BAHAMAS — Opposition Leader Michael Pintard accused the current administration of “kicking the can down the road” as it languishes over whether it will increase the National Insurance Board Fund.
Minister of State in the Office of the Prime Minister with Responsibility for National Insurance, Myles Laroda, gave an update Wednesday, telling reporters the fund is still running low and the government has not yet made a decision on when a recommended increase will be implemented.
Earlier this year, the government said that they would usher in the increase when they feel Bahamians would be able to handle the burden.
However, Pintard said that the issue has been pending for too long and it’s time for the government to take action.
“The record is clear,” he said.
“We have been in this position prior to the last five years, so we’ve been in this position for more than a decade where we were not pleased as public officials with the rate in which people were paying into the fund versus the rate payments were being made to those deserving members of the public,” Pintard said.
The opposition leader explained that given the long period of time in which the matter existed, the current administration, at this point needs to lay out a plan, rather than, deflecting and using an outdated approach.
“So this is not a new issue for us. What is important is for the government that is in the chair today reading this report, which mirrors in many ways the report previously released when we were in,” Pintard continued.
“They must now come up with a menu of options, have a discussion with the public, and proceed with making the necessary decisions to ensure that Bahamians, when they need their payments, they are in a position to receive it.
“[…] What we need is leaders who are serious about addressing this issue and not kicking the can down the road.”
The Opposition has repeatedly criticized the Davis administration’s management of the country’s finances, particularly overspending on travel.
Pintard said: “This is a government as I mentioned earlier, they are so fixated on being popular that they are unwilling to have some very candid conversations with the population and so much of the taxation that the Bahamian people are experiencing now.
“The fees that are slipped in, in a variety of ministries is because initially the government had some tough decisions it needed to make its signal in the fiscal strategy report that it would make those decisions, but when it came to the conclusion that those decisions would cause them to lose some initial support, they opted not to act in a timely manner.
“And now that there is a liquidity issue for them, meaning they are unable to proceed with some of the projects they had in mind or take care of some of the recurring expenditure, they are now forced to make some serious decisions,” Pintard said.
He further explained that he believes that the government should trust the public and begin the difficult conversation with residents noting other circumstantial factors.
“When you engage a public that’s often smarter than us as policymakers, we will be pleasantly surprised that they understand some difficult decisions must be made,” Pintard said.
” We’re just coming out of a pandemic against the backdrop of a (Hurricane) Dorian prior to that. There is a challenge in terms of resources, and so that’s why they are in a position they now tax and spend. They are not tightening their belts.”
The opposition leader added that his party is still concerned about the fact that a decision has not been made on the increase with the NIB fund.
“We’ve raised it over and over, but we are not surprised,” he added.
