NASSAU, BAHAMAS — The government was urged yesterday to “step up and do more” to ease the burden of consumers amid escalating prices on grocery items.
Carlyle Bethel, the Free National Movement’s (FNM) Torchbearers Youth Association president, in a statement yesterday, questioned what steps the government is taking to ensure consumers are not being price gouged on the necessities.
“The government urgently needs to do more. Bahamians are being crushed under the heavy weight of high prices that continue to climb and the government seems set on taking a hands-off, wait-and-see approach to the matter” Bethel said.
“So, my question to the government is: What are they doing to alleviate and/or ensure that Bahamians are not being price gouged on the necessities?”
Bethel added: “The FNM has repeatedly warned the government that their decision to add 10 percent VAT (value-added tax) on all breadbasket items, medicines and essentials will increase the hardship on lower and middle-class Bahamians while providing a two percent tax cut to the wealthy homeowners.
“The prices that we are seeing today are proof that the PLP’s (Progressive Liberal Party) 10 percent VAT increase is nothing more than a tax hike in disguise that has compounded the effects of inflation.
“Bahamians are suffering and the government must step up and do more.”
Super Value Chief Financial Officer (CFO) Debra Symonette recently urged Bahamians to brace for price increases on grocery items.
Symonette said the price increases were being driven by supply chain issues caused by the COVID-19 pandemic and the 10 percent increase in VAT on breadbasket items.
This tells me that this government intends to take a completely hands-off approach and turn a blind eye to the struggles of ordinary Bahamians.
– Carlyle Bethel
Bethel yesterday dismissed the suggestion made by Economic Affairs Minister Michael Halkitis that the government cannot regulate the market.
“This tells me that this government intends to take a completely hands-off approach and turn a blind eye to the struggles of ordinary Bahamians,” said Bethel.
“The statement that government cannot regulate the market is just untrue. One of the main functions and responsibilities of any government is to regulate markets and ensure that citizens and consumers are treated fairly.
“URCA regulates the airwaves, the Securities Commission regulates the financial services industry and the Price Control Act provides the ability for the government to regulate the price of goods and services and matters incidental and or connected to the sale of these items.”
Loading ...
