In a letter to Prime Minister Philip ‘Brave’ Davis on Thursday, Opposition Leader Michael Pintard raised concerns about the state of the Fiscal Responsibility Council (FRC), in light of a Tribune article from earlier this month.

Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) representative on the FRC, told Tribune Business in an article printed on December 5, there has been “no movement since” he revealed at the end of August that the FRC’s work and composition were in limbo, or on hold, following enactment of the new Public Finance Management Act.

In his letter, Mr Pintard said: “In a news article from The Tribune dated December 5, 2023, it was reported that an original member of the Fiscal Responsibility Council (FRC) indicated that the Council is essentially disbanded and non-functional. He mentioned that all of the appointed members of the Council aside from himself consider their terms to have ended. It is also reported that since the Public Finance Management Act 2023 moved the FRC away from the Speaker of the House of Assembly and directly under the remit of the Ministry of Finance, the FRC has received no guidance and no instruction on the way forward from the Ministry despite having requested same.

“If these reports are accurate, there is presently no functioning FRC. Based on previous reporting, this seems to have been the case for some time. It is thus no surprise that the FRC has been unable to fulfill its legal obligations to undertake independent assessments of the government's fiscal plans and performance. The now defunct FRC has six reports outstanding and has failed to produce a single report since your administration took office.

“When the Opposition queried the status of the FRC during the committee phase of the most recent budget debate this past June, your government undertook to provide an imminent update to the Bahamian people on the status and way forward for the FRC. That was some six months ago.

“At this stage, the Opposition and all Bahamians can only be left to conclude that the apparent dismantling of the statutorily required FRC must be a conscious and purposeful act on the part of your administration. There is no acceptable excuse that could justify your Ministry's total abdication of its legal responsibilities. It is yet another clear example of your administration's contempt for the principles of accountability and transparency. You apparently do not want to have independent watchdogs reviewing your policy actions who may have the temerity to do their jobs and provide analysis and insights that run contrary to your endless public relations spin exercises.

“The Opposition once again demands that your office take immediate steps 10 properly constitute the FRC and provide the Council with the necessary support to allow it to meet its legal obligation. We anticipate that you will make a public statement on the way forward for the FRC at your earliest convenience.”