News Archives
Deputy Prime Minister and Minister of Finance K. Peter Turnquest
Wed, Oct 31st 2018, 01:30 PM
It is indeed sad but revealing that the Official Opposition Spokesman on Finance chose not to join the chorus of Bahamians from across the political divide who today commended the government for its historic step toward greater transparency and accountability in the management of the people’s money.
His comments must be an expression of frustration and disappointment with his Party, knowing their painful past experience.
The Opposition had the opportunity to demonstrate leadership and fiscal responsibility, but they proved that they were not up to the task: They were neither accustomed to nor familiar with accountability and transparency standards for public financial administration, or keeping basic promises made to the Bahamian people, for that matter.
Despite the Opposition’s obvious queasiness and discomfort with this new era of enhanced transparency and openness, rest assured that this administration will not allow The Bahamas to go back to the dark days of obscuring the records and disregard for the facts and transparency surrounding our fiscal performance.
During the 2018/19 Budget debate, as Minister of Finance, I promised the Bahamian people to:
(1) use new revenue yields in part to begin to close our chronic deficits;
(2) to begin to pay down the $300 million in old bills and arrears; and
(3) to report to the Bahamian people on a quarterly basis the state of their budgetary affairs – the people’s money – even though there was and is not yet any legal requirement to do so.
Unlike the ever talking PLP that promises and promises and never delivers, today’s presentation of the first quarter provisional results is a promise kept, as is our faithfulness to the use of the additional funding received through the VAT increase consistent with our documented plans as approved by Parliament.
Some $39 million of past due bills amassed and unpaid for years under the PLP has been paid with a balance of $131 million to go during the remainder of the year.
Another promise kept.
The Opposition Spokesman’s absurd suggestion that the results delivered to date are based upon some contrived “cash management” exercise is laughable and speaks to their feeble effort to downgrade the positive steps achieved by this administration so far with the fiscal consolidation promised.
Coming from a Party that left hundreds of millions of dollars in undisclosed, unbudgeted and unpaid bills when they were booted out of office, one would think that the Opposition would remain silent.
No doubt, proper cash management is a significant component of good fiscal management but unlike the Opposition, our program does not include the manipulation of results reported.
Clearly, the provisional performance report and its early promising trends stand there for all to see, making the Opposition uneasy.
I remain optimistic that barring unforeseen circumstances, the government will meet its deficit targets with no need for further taxes or unplanned borrowing.
This Minnis led administration will stay disciplined, focused and resolute in achieving the fiscal targets set and fulfilling our promises to the Bahamian people.
Atlantic Tropical Weather Outlook
Wed, Oct 31st 2018, 01:13 PM
Pittsburgh shooting: Trump visits synagogue amid protests
Wed, Oct 31st 2018, 12:41 PM
PHA outsmarted over shift change by union
Wed, Oct 31st 2018, 12:34 PM
News Item on Hurricane Oscar
Wed, Oct 31st 2018, 11:25 AM
Post-Tropical Cyclone Oscar Graphics
Wed, Oct 31st 2018, 10:35 AM
5-Day Uncertainty Track last updated Wed, 31 Oct 2018 14:35:13 GMT
Wind Speed Probabilities last updated Wed, 31 Oct 2018 15:22:16 GMT
Hurricane Oscar Graphics
Wed, Oct 31st 2018, 10:35 AM
Post-Tropical Cyclone Oscar Forecast Discussion Number 19
Wed, Oct 31st 2018, 10:33 AM
Hurricane Oscar Forecast Discussion Number 19
Wed, Oct 31st 2018, 10:33 AM
Hurricane Oscar Public Advisory Number 19
Wed, Oct 31st 2018, 10:32 AM
Summary for Hurricane Oscar (AT1/AL162018)
Wed, Oct 31st 2018, 10:32 AM
...OSCAR DOING A QUICK COSTUME CHANGE INTO A POWERFUL EXTRATROPICAL LOW... ...HIGH SURF TO CONTINUE ALONG BERMUDA BEACHES THROUGH TODAY...
As of 11:00 AM AST Wed Oct 31
the center of Oscar was located near 36.6, -51.6
with movement NE at 29 mph.
The minimum central pressure was 979 mb
with maximum sustained winds of about 75 mph.
Hurricane Oscar Forecast Advisory Number 19
Wed, Oct 31st 2018, 10:32 AM
Hurricane Oscar Forecast Advisory Number 19
Wed, Oct 31st 2018, 10:31 AM
Pakistan acquits Christian woman facing death for blasphemy
Wed, Oct 31st 2018, 08:57 AM
No third party coming to the rescue
Wed, Oct 31st 2018, 08:50 AM
Is the FNM prepared to risk losing the 2022 general election because of Brent Symonette
Wed, Oct 31st 2018, 08:50 AM
Dear Editor, The Free National Movement (FNM) is apparently gearing up to hold a come-to-Jesus meeting in early November in order to give an ultimatum to MPs Frederick McAlpine, Reece Chipman, Vaughn Miller and Travis Robinson, as per The Tribune. The four nonconformists have apparently [...]
The post Is the FNM prepared to risk losing the 2022 general election because of Brent Symonette? appeared first on The Nassau Guardian.
Boasting about taking more from us in taxes
Wed, Oct 31st 2018, 08:49 AM
Never stop learning
Wed, Oct 31st 2018, 08:48 AM
Broken alliance
Wed, Oct 31st 2018, 08:47 AM
In need of an urgent reset
Wed, Oct 31st 2018, 08:42 AM