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Hon. Keith Bell 2015/2016 Bahamas Budget Communication
Jun 26, 2015 - 10:26:31 AM

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Senator The Honourable Keith R. Bell Minister of State in The Ministry Of National Security Budget Debate before The Senate on Wednesday, 24th June, 2015:

BUDGET DEBATE

Madam President, Honourable Members, Good Morning. I rise today in full support of this Budget and the compendium of Bills, in the midst of much debate and discourse on this government and its work and the continued strength and vitality of the great Progressive Liberal Party. We see debates within, debates outside, and we have parted ways with some. And yet, Madam President, remain steadfast and resolute in our drive to improve this Country – to make a Stronger Bahamas, a Safer Bahamas, a Prosperous Bahamas, a more Modern Bahamas!

Madam President, before making my substantive contributions to this debate, I must first (as always) express my thankfulness to my God, my wife, my family and my fellow Bahamian people for their full and unequivocal support.

Indeed, I remain grateful to my Prime Minister, the Rt. Hon. Perry G. Christie for allowing me to serve in this capacity. I am also privileged to work with the Hon. Dr. Bernard Nottage in the Ministry of National Security, who has been given the very difficult task of delivering our crime initiatives as promised in our Charter for Governance.

Madam President, we recently celebrated Father’s day and I wish take this opportunity to extend greetings to all Fathers.

Madam President, over the past weeks, I’ve had the privilege of attending a number of graduations. At each event, I was impressed by the talent and intellectual prowess of our young people. Public Schools, Private Schools, Rich and Poor- I saw irrefutable and consistent evidence that our next generation will surpass our achievements in building a stronger Bahamas. For this, we should all be very proud.

Madam President, at one such graduation, I was asked by a young student- Is the Bahamas Stronger? That was the question, Madam President.IS THE BAHAMAS STRONGER? Out of the mouth of children as the Scriptures says.Is the Bahamas Stronger?

In answering,I said a resounding “yes”. I told the graduate yes and did so without equivocation. Yes!The Bahamas is StrongerMadam President, under this Progressive Liberal Party Governmentled by the Rt. Hon. Prime Minister. The Bahamas is indeed stronger!

Madam President, today we are here to debate this Budget and the compendium of Bills which support it. We have seen over the past weeks much debate from various quarters on the Budget and the reforms which we seek to introduce.

In a democratic society, these debates are healthy and vital. Notwithstanding, Madam President, in a world where austerity is the new norm, and countries strain under the burden of their debts, the Minister and the Minister of State for Finance and their team must be congratulated for their stellar performance in transforming this Country’s finances.

Madam President, just last year, we saw the Opposition rant and rave with respect to the Budget and this Administration’s fiscal policies. They went so far as to take the unprecedented step of voting against the National Budgetof all things!All of the FNM Senators voted No. In true form, No alternative budget, no concrete proposal, just “NO”.

Madam President, such a position simply shows an astounding lack of leadership and ability to govern. In explaining why, they stated “they will stand with Bahamians who have been bamboozled and deceived by this government”.Further and more troubling Madam President, in presenting and passing the 2014/15 budget,they told the public that the PLP administration was acting in an unconstitutional manner.

Madam President, a government acting against the framework of its Constitution is one of the highest condemnations one can pronounce upon a government.

Madam President, as if that was not enough, they then opposed and voted against the Value Added Tax Bill. Again, no concrete proposal.

Madam President, what a difference 12 months makes. Today, the storyline has changed. In the face of a deficit which has been slashed, the successful implementation of the most significant reform to our system of taxation in our history and a clear pathway to eliminate deficit spending, I watched with sheer amazement, their esteemed Leader voted in favour of this Budget. Imagine that Madam President. He too recognized that we are indeed building a Stronger Bahamas!

This Budget is being presented in the same fashion following the same financial principals and includes as a significant revenue source VALUE ADDED TAX.Same provisions, same methodology-but they voted yes in that other Place.

Madam President, I still don’t get it. If you believed it was unconstitutional last year what makes it constitutional this year? Or was voting against the 2014 budget a mistake or was voting yes in that other place last week a mistake? Which is it? Have Members Opposite decided that the Budget is now constitutional? What about next year, would they revert to the previous position?

It has long been said that a double minded man is unstable in all his ways. The same can be applied to groups.

Madam President, first they said they would repeal VAT, now they have backtracked and seem to be saying they will keep VAT but increase exemptions. Well that was proposed, analysed and assessed with the Government, Chamber of Commerce and other stakeholders agreeing that the proposal is not viable. I would comment further why the proposal will not work but as their proposals are “subject to change without notice”, I will leave such analysis and recommend that they get better advice Madam President before their next ‘flip-flop’.

Madam President, consistent with our commitment to building a Stronger Bahamas, this Budget not only makes significant inroads in addressing our strained public finances, but also stimulates growth and development. With respect to the economy, this Budget sees the deficit (meaning the shortfall between the funds collected by the government and funds spent), slashed by some three hundred and thirty-two million dollars - $332 Million. Yet, Madam President, the FNM and their allies would have you believe the Country suffers as a result of them being voted out.

Nonsense! Madam President. Utter Nonsense. We are Stronger, Stronger under this Progressive Liberal Party Administration.

Madam President, with no tangible evidence to support their illogical position that this country was stronger under their last disastrous administration, the Opposition and their allies have now resorted to trying to manufacture crisis, red herrings and smoke screens. No concrete plans for reform, no concrete plans for national development - NOTHING.

Madam President, the Value Added Tax which was rejected by the FNM and which at one point they suggested that they would repeal, is expected to produce some $150 Million in tax receipts which is being used in part to pay down our enormous debts.

Madam President, to grow and develop thisCountry, we must not just rely on foreign direct investment, but we must encourage local investment and development. In this regard, this Budget introduces significant reforms designed to create economic stimulus through tax concessions.

The Family Island Encouragement Act is being extended with the addition of Eleuthera, Abaco, and East and West Grand Bahama.

For the benefit of those listening, this law allows persons on qualifying islandsto import all the materials needed for the construction of their homes duty free. DUTY FREE! Madam President, this significantly reduces the cost of construction on those islands and I encourage persons to take advantage of these opportunities.

In addition to the Family Islands, this Progressive Liberal Party Government is giving ‘over the hill’ communities some of the same benefits which are given to Bay Street. Yes, Madam President,just as mostly wealthy landowners receive concessions under the City of Nassau Revitalisation Act, so too will those with homes under 1,500 square feet or commercial structures under 6,000 square feet. The Tariff (Amendment) Act allows for qualifying individuals to apply and receive an exemption on the customs duties on building materials for approved projects.It is my hope that Bahamians take full advantage to improve our depressed communities.

Yes! Madam President, this Christie-led PLP administration is ploughing full steam ahead to build a Stronger Bahamas; a Safer Bahamas, a Prosperous Bahamas, a Modern Bahamas. As for me, my task is to produce empirical data which unequivocally show that we are building a safer Bahamas through our policies and initiatives....

Full
2015/2016 budget communication attached below


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