> Davis said his administration will work on implementing campaign promises such as increased minimum wage and reducing value added tax to ten percent “as soon as the dust settles”.

I don't remember him making his pre-election promise to reduce VAT conditional on the settling of any kind of dust.

> Davis said, "The opposition Free National Movement has poured water on some of the promises, saying the country’s finances and economic situation will make them difficult to achieve."

And that pathetic worn out excuse for not making good on his promises certainly won't carry the day. LOL

Lol. Well this should be very interesting! Davis and the PLP are already back-peddling on election promises. It’s beginning to look like the Bahamian people got duped again! This five year sitcom should be fun! Where’s my popcorn?!! 🍿

So now everything is beginning to take form! Give friends and cronies high profile jobs while blaming the FNM for not being able to deliver on your campaign promises!! Hahaaaa!! Boy oh boy!! This will be fun!! Davis played the Bahamian fools like a fiddle yet again!! Maybe I should get into politics! It’s the gift that keeps on giving!!

The dust may settle in four and a half years. Just in time to try and swing voters.

I think a lot are blind to the state the fnm left this country and in 4 yrs nothing but billions borrowed with not a dam thing to show.

I'll believe it when I see it. 😂

Disaster unless you have another revenue supplement. Corporate Tax? Stiffer Property tax? Devaluation of the B dollar? Oh I know you're going to start paying government employees in digital Sand Dollars.

For starters, they need to crack down on RPT delinquents. What happens when you don't pay your property taxes in the US or Canada? Your property goes up for sale. No reason why we should just leave millions in revenue just sitting on the table not being used. Lyford Cay can afford to pay more as well (or even just getting some of the residents there to pay would be a start). Business already pay a corporate tax in the form of business license fees, it is just set up that way to separate between domestic companies and IBCs.

With VAT being a consumption tax, basic theory is that consumer spending will go up if prices are dropped. It is why I said raising it to 12% was a horrible idea in the first place; growth was killed off by such a sharp increase as people started showing greater frugality with their earnings. If prices drop from a VAT decrease (a lot more factors to consider besides VAT, especially with imports), the increased spending might help make up the difference as well.

Snowballs chance in hell a 2 % drop in vat will stimulate more economic activity than revenue lost - what math planet you living on?

Hey, I don't agree with you on most things, but on this I agree with you 100%.

"the increased spending might help make up the difference as well."

Maybe if you read more carefully, you would notice that I did not suggest it would make up the entire amount. I merely suggested that it may help to stimulate further spending and compensate for a part of the revenue lost.

Truth be told, there is no way for us to tax our way out of our problems. What? You expect Bahamians who make less than 20k a year to pay 20% of their income to the government? There is only one solution, cut the costs. Stop paying a gorillian civil servants and trim down on the amount of wastage that these Ministries generate. Collect on overdue revenue. They don't pay, seize their properties and auction them off as is standard in the rest of the world. No more tax breaks for Lyford Cay. You can afford to pay more RPT if you own a home over 1 mil in value.

Totally agree with your last paragraph, but what's the chances of those happening ?
Also, most of those Bahamians who earn less than $20K, don't find it difficult to find the $ to buy the latest Smart Phone, Tennis or expensive hair weaves/extensions.

My how quickly times change.. wasn’t that long ago things were so bad then Finance Minister Turnquest said the House would stop providing lunch for the few days they meet per year to address the runaway debt.