thebahamasweekly.com - Dr. Minnis on Moody’s Economic Report on The Bahamas

From:TheBahamasWeekly.com

Bahamian Politics
Dr. Minnis on Moody’s Economic Report on The Bahamas
By The Free National Movement
Feb 24, 2017 - 5:54:24 PM

Nassau, Bahamas - Dr. Minnis, Leader of the Free National Movement (FNM), issued the following statement on the Moody’s Economic Report on The Bahamas:

“The latest economic report from Moody’s is just one more indictment of this PLP Government’s disastrous fiscal mismanagement over these last five years. In their campaign they promised to cut deficits, create jobs and turn the economy around. Let’s not forget that they jammed their onerous VAT tax – the largest tax increase in history – down our throats, saying it would rein in deficits. Yet deficits persisted because of their spending which led credit agencies to downgrade our nation’s credit to junk bond status. What a disastrous record!”

“And in their latest report Moody forecasts our deficit to be over $300 million and only assumed growth based on the hope that this Government’s secret deal on Baha Mar delivers relief for so many Bahamians looking for work. But they made it clear that regardless of that, our credit rating could be lowered again if the PLP does not follow through on getting Government spending under control.”

“But time and time again the embattled Prime Minister and his inept PLP Government have said that they are cutting deficits but time and time again this has been proven to be a lie. Long ago the people lost confidence and faith in this Government, with good reason. It is clear that only a change in leadership will bring about true reform and true step to get our fiscal house in order. After five years we cannot afford to give the embattled Prime Minister and his cronies any more time – their record proves they don’t deserve it and the country cannot afford it.”

“The government must be returned to the people. And the FNM hears their calls and will work with them to control spending, reduce our deficits and get our economy going again. We know our work will not end until all the people that want to work, can work. So we will strive every day to fulfill that commitment to the Bahamian people that have suffered long enough under this inept PLP Government.”