The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has come out in support of the government's road works relief plan, calling it a "good effort" given the limited budgetary restraints. Chairman of the BCCEC Chester Cooper said the $15 million cap on road works relief is the best solution right now to a "complicated issue". "This seems like an attractive proposal, especially for small businesses that have managed to survive the double whammy of the recession and the road works," the chairman told Guardian Business.
"We are sympathetic to the businesses who suffered from a very poorly managed and ineptly executed road project. Whilst we support the needed improvements in public infrastructure, we trust that the lessons learnt on the far-reaching implications for the community - productivity, commerce and ultimately employment - will serve to bring more accountability to public affairs." The vote of confidence by one of the country's top business organizations could go a long way to quelling a strong outcry in the community.
The Coconut Grove Business League (CGBL), representing about 50 businesses, has been particularly outspoken on the issue, referring to the proposal as "ridiculous". A counter proposal is planned for next week, according to Ethric Bowe, spokesperson for the group. The comments from the BCCEC are in line with Michael Halkitis, the state minister of finance, who told Guardian Business yesterday that businesses must be "realistic" on the issue.
He said $15 million is a figure the government can afford and the plan itself is relatively easy to execute. "What we are trying to do is put together something we can do quickly and something the government can afford. We want to put forward a menu of options businesses can take advantage of," Halkitis said on Wednesday. Under the road works relief effort, businesses can take advantage of four key incentives: A 10 percent discount on electricity bills for 18 months; a six-month credit on custom duties; competitive financing from the Bahamas Development Bank and relief on property tax and business licenses for six months.
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