ALTHOUGH the Minnis administration hopes Bahamians benefit from customs duty waivers off clothes and shoes for retailers, former government ministers say businesses have historically failed to pass savings from exemptions to consumers.

James Smith, former state minister for finance and Central Bank governor, said Monday: “Politicians like to announce customs duty waivers to give good news with bad news. Though it’s good for a soundbite, when you look at the impact, it’s usually not significant...”

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