Shadow Minister of Finance and Free National Movement Deputy Leader Peter Turnquest gives the party's response to the prime minister's 2016/2017 budget communications as FNM Leader Dr. Hubert Minnis looks on. (Photo: Torrell Glinton)

Deputy Leader of the Free National Movement (FNM) Peter Turnquest yesterday described a new mortgage relief program announced by Prime Minister Perry Christie in his budget communication as a "complete fantasy".

"His proposal with respect to mortgage relief is again another election promise that will not deliver relief to anyone," said Turnquest while giving the Official Opposition's response to the budget.

In a communication that lasted nearly four hours, Christie announced the plan is intended to help "upwards of 1,000" delinquent borrowers.

"The program will provide a financial incentive that will allow banks to offer borrowers who have some ability to pay, but have fallen behind, the chance to get back on track," Christie said.

Despite Christie's claims, Turnquest indicated that the plan would not fix the underlying problems. He added "that a much more thought-out and thoughtful response" is needed.

"We are disappointed that the prime minister [and] the government would seek to come to this House today, to again put to the Bahamian people a complete fantasy, in order to try to secure their victory again in 2017."

Turnquest also dismissed the new framework in place between China State Construction Engineering Corporation (CSCEC) and the Export-Import Bank of China (EXIM) to complete Baha Mar.

Turnquest said: "There is no deal obviously, still agreed for the reopening of Baha Mar.

"What was presented today was nothing more than a letter from the Chinese partners saying that they are willing to sit down to discuss a solution.

"Nothing in the letter that was read suggests there is a commitment to finance and a commitment to a specific timetable for this project to be restarted."

He criticized Christie for being "premature" in his efforts to "bring some good news".

Turnquest said "I believe that the fact that we have not been able to come to some kind of successful conclusion points out a tremendous weakness in the government; it points out their lack of creativity." He also suggested that the government was sending the wrong people to negotiate on behalf of the Bahamian people.

Sir Baltron Bethel, senior policy advisor in the Office of the Prime Minister, and Attorney General Allyson Maynard-Gibson, went to China last week to meet with representatives of EXIM Bank and CSCEC.

Turnquest urged the government to come to a conclusion on Baha Mar because the delay in the project's completion will continue to have a negative impact on the economy. More than 2,000 people were laid off late last year, several months after the resort filed for bankruptcy.

Turnquest also lamented the fact that National Health Insurance (NHI) appeared to be a long way from implementation.

"Again [there has been] no plan put forward, no timeline put forward, no substantive program outlined," he said.

"This is a program that they have been talking about for four years. This is a program that has caused the Bahamian people to date, millions of dollars with multiple consultants." He blamed the delay in NHI on "a rush to create a legacy before all of the details have been thought-out".

Turnquest asserted Christie did not mention anything on education and what the plans were for the upcoming year for that ministry. Turnquest reiterated the budget "was basically a repeat of the mid-term and the previous year [budget communication] with respect to all the projects that has been announced".

He added: "We have heard these projects for the last four years almost. The Bahamian people are looking for results, not more words, not more promises; they are looking for absolute results."

FNM Leader Dr. Hubert Minnis expressed his disappointment with the budget. He said the government has failed to grant a tax holiday for residents impacted by Hurricane Joaquin.

Turnquest also claimed Christie was vague in outlining initiatives to spur development in the Family Islands.

"If we are going to develop as a country, the Family Islands certainly make up a very significant component of that development," he said.

Turnquest indicated that the government ought to be focusing on revenue measures and incentives that encourage investment in the Bahamian economy and the Bahamian people. The budget debate is set to begin on June 8.

Don Alleyne, Guardian Staff Reporter

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