PLP Senator Allyson Maynard Gibson said the Christie administration has already set about aggressively achieving the goals outlined in its Charter for Governance. These include the establishment of a Ministry for Grand Bahama and a Financial Services Ministry. Mrs Maynard-Gibson said: "The Ministry for Grand Bahama has been established and the Ministry of Financial Services has been re-established. And by the end of the budget debate among other things, we expect to stimulate the real estate and construction sectors thereby creating much needed jobs by passing laws to decrease stamp tax from 12 per cent to 10 per cent and placing a ceiling of $50,000 on real property tax. "We have hit the ground running. We are less than a month into our government and we are moving quickly and on multiple fronts." The government's zeal, the senator said, has been overshadowed by an economy in much worse shape than anyone in the PLP could have imagined. "The deficit will be about $570 million - more than $200 million more than projected in the 2011/2012 budget. The national debt has increased to over $4 billion. This means there is now an even greater need for innovative policies and people-first leadership," she said. "The government recognises that every dollar spent must be a dollar invested wisely. We will aggressively eliminate waste, fraud and abuse," Mrs Maynard-Gibson said. Turning to the FNM's landslide defeat on May 7, Mrs Maynard-Gibson said Bahamians rejected four years of record murder rates, record youth unemployment, and "gross mismanagement" of the New Providence Infrastructure Improvement Project.