Statement By Dion A. Foulkes Former Minister of Labour and Social Development And Former Deputy Leader of the FNM

Sunday, March 3, 2013

PM Christie finally admits FNM economic policies were effective; saved and created thousands of jobs for Bahamians

“The Bahamas economy has continued to recover from the global economic and financial crisis. The main drivers are, on the one hand, a modest though ongoing rebound in tourism. On the other hand, the large public and private sector investment projects that are underway are sustaining aggregate demand and also enhancing our tourism productive capacity going forward.”

Prime Minister Perry G. Christie Midterm Budget Communication House of Assembly

The PLP and Prime Minister Perry Christie have finally admitted that the wise and well considered economic stimulus programs formulated and initiated by former Prime Minister, The Rt. Hon. Hubert A. Ingraham and his FNM Government caused the Bahamian economy to continue "to recover from the global economic and financial crisis".

Having misled the Bahamian people about the causes of their economic woes, PM Christie has now conceded that it was due to the international "financial crisis".

The total demand for goods and services, “aggregate demand”, in the economy was maintained because of the implementation and construction of the massive New Providence Road/ Infrastructural Project, the aggressive maintenance and construction buildings, docks, harbors, schools and sporting facilities by the FNM Government.

The timely construction of the new Lynden Pindling International Airport and the commencement of construction of the Bahamar Resort under favorable terms and conditions for Bahamian workers and contractors also resulted in thousands of jobs for Bahamians and work for numerous Bahamian contractors.

The implementation of three National Employment and Training Programs over a four year period resulted in over 6,000 temporary jobs and training opportunities for Bahamians.

Because of these aggressive programs the Ingraham led FNM Government saved and created thousands jobs.

Unemployment is now down to 14% from 15.9% in 2011.

The FNM, during bad economic times, led the way in "enhancing our tourism productive capacity going forward".

The FNM in its last term accomplished many significant things for Bahamian.

Under former PM Ingraham's FNM the following were built: the new LPIA, the new Container Port, the new four lane JFK highway, the new Downtown Straw Market (the Palace), the new Vendue House, the new Marsh Harbour international Airport and much more:

Safeguarded the jobs of more than 20,000 civil servants; Created the landmark National Retraining Programme which benefitted over 4000 Bahamians; Caused to be built the new Thomas A. Robinson National Stadium; Commenced the construction of the new PMH Critical Care Block; Construction of new A&E and new operating theatres at the Rand Memorial Hospital; Constructed and opened the Sister Mary Patricia Russell Junior High School; A new power station was constructed at Wilson City at a cost of $73 million to improve service reliability and meet Abaco’s increasing demand for electricity; Central Abaco High School – constructed administrative and technical blocks at a cost of $802,000;

In Bimini a new power station was constructed at the cost of $14.5 million; Provided good water in Chester’s/Lovely Bay, Salina Point and Snug Corner/Mason’s Bay; Acklins road works completed at a cost of $4.3 million; South Eleuthera road works undertaken at a cost of $4.6 million In Eleuthera new power station was constructed at the cost of $25 million; Unemployment Benefit under the NIB Programme assisting some 24,635 Bahamians; Eliminated import duties on cereals, oatmeal, breads, citrus fruits and frozen vegetables; Exempted personal computers, printers and software from the current stamp tax, thereby making them completely duty-free;

Reduced import duties on a number of building materials; Reduced the import duties on energy-saving home and hybrid vehicles; Hired more than 400 police officers to strengthen our security forces; Invested in new equipment, technology and crime fighting tools for the Police Force; Institution of electronic monitoring of accused and convicted persons to assist the police in crime fighting, monitoring repeat offenders and other accused of serious crimes and granted bail;

Ongoing installation of CCTV monitoring in various areas of New Providence; Stopped hiring teachers at the bottom of the salary scale; School “Lunch Menu” changed to ensure that balanced meals are provided to children in the government school lunch programme; Increased scholarship funding to College of Bahamas by $1 million for students unable to meet tuition costs;

Increased funding for teacher training at COB; Increased government educational loans and scholarship funding for national and international institutions from $400,000 to $8 million; Merit, academic and technical scholarships increased from $400,000 to $2 million; Created the system of annual national scholarship grants; introduced a Prescription Drug Programme for selected chronic diseases and medical conditions.

It was because of the visionary and focused diligent work of Hubert A. Ingraham and his team of FNM ministers that thousands of Bahamian jobs were saved and thousands more created.