cut the vat on medication and medical bills.

And on insurance and bread basket items

> He added that the government is also
> preparing legislation prohibiting
> anti-competitive practices, which he
> said would lead to “lower prices,
> better products, and more choices.”

So the so call anti-competitive legislation, whatever that is, as don't know how that will happen, will it begin with the government doing away with its own monopolies, in order to allow competition?

> Addressing the country’s reliance on
> US imports, he discussed a new Trade
> Diversification Policy to source goods
> directly from their countries of
> origin, cutting out costly middlemen.
>
> “If we import the same products
> directly, we could lower prices
> significantly,” he said.

So does the PM really believe that business owners fo not seek to source their products directly from the manufacturer?

Maybe the PM needs to take his own advice and start by buying the fruits directly from Haiti, rather than having them shipped from Haiti to the US and then buying from the US. DOn't give rhetoric, just take action and show that you are doing it.

How long is the 50% cut for? Only until election?

... reducing government income from VAT (which is not being used to pay down the national debt) can only cause government to try and make up the shortfalls somewhere else. This can only mean that by tomorrow, the police will be near every roundabout checking vehicles for expired licenses! This is what happens in an undiversified economy where governments come to power by trying to be the populations sugar daddy!

When the groceries receipt is rung up. Instead of 10 Perecent it will be 5perecent
100 dollars 5 dollars and not 10 dollars it is a good thing . But the nay sayers will find faults. Dim dim dim..

If all you buy is uncooked food.
You will pay 10% on: bleach, washing powder, soap, toothpaste, toilet paper,dinner and sandwich from the deli.

But you've spent the last 3 years telling us that it was better to have the same VAT on all items. Why the sudden change?

That right there is the question.

Brilliant indeed unlike them people who increased VAT 60percent then took VAT off a few items that did not help the poor. PINTATD HAD to say somethings even if it makes no sense . Mr pintard do you wake up with a strong body and mind ?

**It's the belief of the premiership,** -- that there's **still more unforgivable hurtin'** ways to go to get the popoulaces' to switch over 13 PLP held constituencies to vote for a Pintard/Minnis regime. -- And whilst holding onto **all*of their 6 current -- plus Long Island House seats. -- Yes?

Most D- educated Bahamians will not be able to connect the dots here. This 50% VAT cut on food items is an act of desperation by a bankrupt government that only now clearly sees and fears the massive civil unrest looming on the horizon for The Bahamas.

We import nearly all of our food items which means this VAT cut will have an enormous adverse impact on the tax revenues collected by government. This in turn will increase the need for government to borrow thereby increasing our already unsustainable national debt. The government (our central bank) will be forced to printed more Bahamian dollars in an effort to plug the hole in our country's Bahamian dollar denominated finances.

And printing more fiat currency through the issuance of Bahamian dollar denominated debt by pressuring domestic banks, domestic insurers, domestic investment companies and domestic pension plan administrators to buy/invest in the new debt issues, i.e. treasury bills, threatens to destabilize our domestic economy in a most serious way........not to mention the increased inflationary effects of government simply printing more Bahamian dollars to fill a gaping hole created by its desperate fiscal policy measures to avoid massive civil unrest. Yup, I suspect few Bahamians are able to see the bigger picture here.

I guess 80% of Bahamians have already checked out on Brave(less) and his bunch of New Day crooks and hustlers

This 5% is too little too late ................ Brave has done NOTHING for three years and now he is trying to fool people with gimmicks. This will further exacerbate the plight of the business class and cause confusion among the intellectually unwashed masses (that the PLP loves to say that they are the "champions of the poor"

Brave might as well as resign and call a general election NOW

Yawn

**'Snap one neck' requires 'all necks' be snapped!** -- 'Twas a bad situation that further exacerbated the ongoing circumstances surrounding the House-seated MP for Long Island (LI) --- After he flew into (LI) accompanied by Dr. Minnis and the DNAs "Snap they's neck like they do in Texas" Branville McCartney. -- Yes?

Lest we forget 10 VAT. School breakfast. Those other folks make the rich richer and do not care about the poor the shipping port. The post office .the cruise port..the PLP has always cared more for the poor the mimium wages increase and the list goes on

Those fellows over younder do not even have a leader is it the boy the rude one who threw out the mace. The toggie and boggie guy or the doc.. they do not even know.

$156 Jamaica Dollars To $1.00 US Dollar
$1.00 Bahamian Dollar To $1.00 US Dollar
Don't understand how the government pulls this off but give them credit.

The Jamaican dollar floats against the US dollar based on its foreign currency reserves whereas the Bahamian dollar is pegged by the Bahamian government (not the US government) to the US dollar at an artificial rate of BSD 1.005 = USD 1.000. In other words, Bahamians are shackled to an exchange control regime that is only as good as our nation's ability to grow its 'external' foreign currency reserves faster than the pace of the annual US inflation rate and our ability to repay the ever growing portion of our national debt denominated in foreign currencies, i.e., our country's foreign currency borrowings.

Right now the US annual inflation rate exceeds the annual growth rate in our foreign currency reserves and our foreign currency borrowings are at a level that cannot be repaid. Our ministry of finance (MOF) and central bank's answer to this dilemma is to simply print more Bahamian dollars, monetize the newly minted Bahamian dollars into Bahamas government treasury bills, and then coerce domestic financial institutions licensed by the MOF into buying the newly created treasury bills. This of course results in enormously stressful distortions in our country's finances that in turn threaten the collapse of our entire financial system.

When the proverbial shiit hits the fan, our Bahamian dollar will become unpegged from the US dollar causing a massive devaluation in the Bahamaian dollar 'overnight.' Already domestic financial institutions are shunning investing in longer term treasury notes and bonds because our government is unable to compensate them with the higher yields warranted by such investments. Also, the so called black market exchange rate cost for buying foreign currencies with Bahamian dollars is now at an all time high which does not portend well for things to come.

Our nation's foreign currency reserves have for decades now been seriously compromised by corrupt ministers of finance and central bank governors who have allowed and continue to allow foreign investors and politically connected Bahamians to avoid the exchange control requirements that the rest of us must abide by.

@ComradeBonefishpet, It's illegal to leave the Bahamas with more than 10,000 BSD but it's not illegal to leave the Bahamas with more than $10,000 USD, but you must declare USD to customs. -- Exchange BSD outside the Bahamas and you'll soon learn its true paper value. -- Yes?

Well said. Our currency value would be in the toilet if it was allowed to free float.

@LMS, there's the potential in B$ as a 'Side Hustle' and don't have to be flush with cash to kick-start with as little as $100 to $5000 and risk to original investment is nil. --- Yes?

Yup, but government's increased printing of Bahamian dollars has created a very overly inflated balloon that is increasingly vulnerable to being suddenly popped.......and when this popping happens the artificially inflated value of our local currency will manifest itself through an instant massive devaluation the Bahamian dollar relative to the value of 'hard' currencies like the US dollar, Euro, Canadian dollar, etc.

It is not illegal to leave The Bahamas with more than 10,000 BSD. Please show your source for this nonsensical claim.

A sign that silly season will soon be upon us.

If medications, health costs, baby and bread basket items, etc etc had not been made taxable by Davis&Co we wouldn’t be needing his pittance

Who exempted these items only to have Davis&Co grab them back again?
The original no exemption list was a gift to retailers certainly not the people of the Bahamas.

The current government has failed to fund/start/staff any meaningful program to better the lives they’re sworn to safeguard.
In fact their only success stories is limited to their corruption of every institution designed to uplift the Bahamas out of it’s reputation as a failed nation state.

Later for you Brave, I moving on ...... 🤣🤣🤣

**Provided with a Honeymoon of maintainin' higher prices!** -- Aren't the grocers to enjoy a 'grace period' of April 2025 **before** having to adjust store shelves prices to reflect the lower 5% VAT. -- Yes?

**Is there anything to the talk** of a rogue state warships secretly passing through Bahamas sea waters -- Yes?

You forgot to mention the heavily armed latest generation of ChiCom subs that stealthily move about in the great depths of our Tongue of the Ocean with the knowledge and approval of our government.

The Fnm government was against VAT they increased it 60perecent then took it of a few items that made no sense. They only wanted VAT of flour and cooking oil etc the Government did better than the Fnm could ever imagine
Those fellows have no vision. So the dullard complains

Bahamas is the 6th most expensive country in the world and has a low minimum wage. It is unconscionable to have any VAT on food and medical.

This undoubtably launches political campaign tricks and silly season for the up coming general election.

Pintard is another one who can't do basic maths or is lacking in common sense. He could have easily attacked Davis's reduced VAT rate on retail food sales by food stores on the grounds that it would increase our national debt by at least $120 million per annum assuming the average person spends at least $500 per month on food purchases at retail food stores. See the basic maths below.

Typical incompetent Halkitis says reducing the VAT rate on retail food store sales would cost government $30 million per year based on current food prices. But the basic common sense math below proves just how foolishly absurd and incompetent this supposedly educated moron really is.

$30 million divided by 5% VAT reduction = $600 million of total retail food store sales per year attracting a VAT rate, i.e., 30,000,000 / 0.05 = 600,000,000.

$600 million divided by 400,000 people = $1,500 of total annual food store purchases by each Bahamian/resident of The Bahamas on average, i.e., 600,000,000 / 400,000 = 1,500.

So Halkitis would have you believe your annual food store costs and the annual food store costs of all other citizens/residents of The Bahamas is on average about $1,500 which equates to about $125 per month. Most of us spend at least four times that amount each month at the food store which means the total cost to government of this VAT rate reduction will be at least $120 million per annum at current food prices, i.e. 4 times Halkitis's ridiculous $30 million estimate.

Halkitis's lack of common sense is clearly only exceeded by his stupidity. This man should no involvement whatsoever in our country's finances. And the same goes for that other ding bat affectionately known as Always Angry Simon Wilson.

Pintard's failure to point out these facts on the floor of the HOA also does not speak well for his basic maths skills and common sense.