By NEIL HARTNELL
Tribune Business Editor
(July 18, 2018) NASSAU, Bahamas - The government has admitted to losing around 50 percent of due Customs revenues from inefficiencies in a system it is working feverishly to reform by eliminating manual processes.
The confession is contained in the government's own just-published review of The Bahamas' progress in meeting the United Nations' (UN) Sustainable Development Goals, with the report's release timed to coincide with Dr Hubert Minnis's visit to the New York-based body today.Read more
The government hopes to pass the Fiscal Responsibility Bill soon, according to Deputy Prime Minister and Minister of Finance Peter Turnquest.
The piece of legislation was announced in the 2018/2019 Budget Communication and was engineered to keep the government accountable with public finances.
Turnquest’s announcement was in response to the recent call by Organization for Responsible Governance (ORG) for the bill to be passed before Parliament’s summer recesses
By Theo Sealy
(July 16,2018) NASSAU,BAHAMAS- A local civic organization is agitating for the government to seriously expand its think-tank to generate new ideas on how to expand the country’s economy.
Matthew Aubry, executive director of the Organization for Responsible Governance (ORG) pointed to a number of sectors that government can seek to bolster economic bounty.
“Whether we look at tech, or agriculture or boutique tourism I think its something we need to consider because at this stage we are running out of time to make that move to ensure that our economy continues to grow,” Aubry golf Eyewitness News.Read more
(July 12,2018) NASSAU,BAHAMAS -The Organization for Responsible Governance (ORG) wants to see the Fiscal Responsibility Bill tabled and debated before government goes on its usual summer hiatus.
ORG said in a press release issued yesterday that government must treat the bill the same way it treated the implementation of the 4.5 percent increase in value-added tax and move the highly touted bill through Parliament as quickly as possible.
“The implementation of the Fiscal Responsibility Bill should be treated with at least the same level of urgency as the short-notice imposition of the VAT increase,” said ORG.Read more
By Organization for Responsible Governance
(Jul 10, 2018)NASSAU, New Providence – “The implementation of the Fiscal Responsibility Bill should be treated with at least the same level of urgency as the short-notice imposition of the VAT increase.” These are the sentiments of The Organization for Responsible Governance, which is pushing for the drafted Fiscal Responsibility Bill (FRB) to be tabled and debated ahead of the customary parliamentary summer recess.
Citing the Minister of Finance’s original target of having the legislation in place ahead of this budget cycle the Organization urged the Government to move swiftly in having the legislation passed.
“Last year, Minister Turnquest committed to implementing ‘fiscal rules’ ahead of the 2018-2019 Budget Cycle to address issues of expenditure and financial management, and to bridge the trust-gap between the people and their government,” said Matt Aubry, ORG’s Executive Director. “We applaud that a Fiscal Responsibility Bill was introduced in March of this year and that time was allotted for review and feedback from the private sector, civil society, and the people. However, in keeping with the spirit of the Minister’s intentions to usher in a new era of fiscal discipline and accountability with the new budget, we hope to see the revised legislation tabled and debated in The House of Assembly in the coming weeks.”