The official opposition yesterday accused the Davis administration of "squandering" record revenues on lavish travel, extravagant parties and excessive events, and alleged, without proof, that the government is facing a "severe cash crunch".

"In the last month alone, the prime minister has been crisscrossing the globe with large entourages, often for ceremonial matters not critical to the execution of his duties," the opposition claimed.

In a statement, the opposition also said it is "gravely concerned with the significant number of complaints we have received from Bahamian vendors and financial institutions regarding extreme delays with being paid for goods and services".

"The issues with timely payments have progressively worsened over the two years of the PLP administration," the opposition claimed.

"We understand that the government has been increasingly tardy in remitting the funds deducted from civil servants to the various credit unions, insurance companies and other institutions.

"Even though the funds are deducted from their salaries monthly, an unacceptable number of public servants are now facing late fees and lapsed insurance policies because the government is not sending the monies out of these institutions on time."

The opposition said it intends to write to the prime minister on the matter of Family Island government departments allegedly not receiving their allocated funds on time, and claimed this is putting extreme pressure on residents, businesses and those who rely on the public purse.

"There are many such examples and we will write to the prime minister and provide him the specifics to enable him to substantiate the claims for himself and address the matter," the opposition said.

"It is the view of the opposition, however, that the new day government is in a severe cash crunch and cannot meet its routine obligations in a timely matter. The cries and complaints from vendors and institutions are getting worse.

"It's time for the prime minister to be frank with the Bahamian people regarding the government's reported financial challenges. Additionally, he must immediately move to eliminate the typical PLP-style extravagant and wasteful spending of Bahamian taxpayer funds. These changes are necessary to regain the country's financial footing."

The government has repeatedly touted impressive revenue gains.

In his budget communication at the end of May, Prime Minister Philip Davis said the government is on track to achieve a balanced budget by 2024/2025.

"By raising much-needed revenue without adding any new taxes, we can expand the range and quality of services and investment on which Bahamians rely," he said.

At the time, the prime minister also reported that public revenue receipts were strong over the previous nine-month period.

"This was due to legislative reform, effective policy decisions, strengthened economic conditions and more efficient collection efforts," he said.

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