Sen. Fred Mitchell
Chairman of The Progressive Liberal Party
The Progressive Liberal Party thanks and congratulates the Leader, Hon. Philip Brave Davis and Deputy Leader, I. Chester Cooper for their proposal to reduce Value Added Tax from the current 12% to 10% in the next PLP Government. This tax reduction should be a good way of easing some of the financial burden on taxpayers and stimulate consumer demand that was wrecked by the Free National Movement.
This proposal was made at the unveiling of the PLP’s economic recovery and development plan earlier today via social media.
This is huge news for thousands of Bahamians and business owners. The FNM raised VAT by 60% to 12% contrary to their promises to the Bahamian people. This tax hike resulted in a decline in consumption and businesses experienced measurable decline in their sales revenue as a result.
The party’s leadership team also proposes an investment of $250 million in business development over five years as an impetus to not only stimulate, but to revolutionize the Bahamian economy. This too is good news as this proposal is a more commensurate economic response to the devastation brought on by both Dorian and the COVID-19 pandemic, external shocks to the economy that were made worse by government incompetence, mismanagement, intransigence and corruption.
Under the theme, REBUILD, RECOVER, REVOLUTIONIZE, we believe that the proposals articulated by the party’s leadership will augment and strengthen the country’s current National Development Plan, VISION 2040, a blueprint for the future sustained development of The Bahamas.
This roll out is in stark contrast to the FNM who while in Opposition ran a nasty campaign of fake news, untruths, misinformation and disinformation.
They came to office ill prepared for the rigors of governance, without respect and regard for the conventions that underpin our democracy, and with no plan. They instead vigorously pursued victor’s justice and failed. They were widely criticized for their general unpreparedness and for good reasons.
In our view, the country must change course.
Additionally, a responsible Opposition party owes it to the discerning voters and the public to present viable policy alternatives to what many Bahamians believe to be the failed policies, poor leadership and poor governance by the Minnis led FNM. The unveiling and discussion are therefore the responsible and credible things to do.
We encourage public dialogue and engagement on these vitally important bread and butter issues that affect the daily lives of our people.
Again, many thanks to the Leader and Deputy Leader for an inspiring and well thought out presentation that engenders hope and promotes public confidence in governance.
We encourage all people of good will to read the full plan at https:/plpbahamas.org/economicplan