Budget includes increases for public servants, social assistance and greater access to home ownership
NASSAU| Prime Minister Philip Brave Davis Q.C. tabled his first national budget to move the Bahamas forward. It contains plans to grow the economy, create employment and make the ease of doing business in the Bahamas affordable and friendly for the common man.
Outlining that there will be no new taxes imposed on Bahamians, Davis spelled out his government’s vision to rebuild the economy for the long term with special focus on the family island communities.
Davis told Parliament: “Our strategy for softening the impact of this global inflation crisis includes: a mix of broad-based import duty reductions; increased enforcement of price controls; an increase in the minimum wage for public servants; increased social services assistance; important new support for Catastrophic Health Care; the establishment of the Universal Service Fund, to make technology more accessible and affordable throughout our islands; and a substantial investment in promoting home ownership. Energy reform to reduce cost.”
“And we are thinking medium-and-long-term, too, with significant investments in agriculture, to increase the nation’s food security.”
“The more we are able to feed ourselves, the better we can withstand external shocks in international markets, and ensure that good, healthy, affordable food choices are always available for our people.”