ministryoffinance

An exuberant Press Secretary Clint Watson was at it again on Friday, allegedly releasing, “jaw-dropping” details on reported irregularities that took place in the Public Parks and Beaches Authority.

In his teaser, Watson said, the audit report was “so jaw-dropping, that we decided to immediately release the full report so that the Bahamian people can see for themselves how their money has been spent,” under the former administration.

This is one day after the government again denied the application for the operation of the Christmas Carnival on Fort Charlotte. It denied having anything to do with allowing the rides in the country at a time when the country is fighting the pandemic, and permitting it to set up on the public park. Until Senator Maxine Seymour tabled a letter showing the granting of permission from the  Ministry of Finance to the PLP, to allow the carnival company to import equipment into the country.

Questions still remain as to the transactions. Details are still missing. The government has not yet admitted that its party gave the permission. We still don’t know what protocols the Carnival company did not meet, yet they were approved to enter the country.

Where is the transparency on the carnival issue which later became a debacle because the public was not given a direct answer on its dealings?

Instead of releasing the “jaw-dropping” details on that, the government decides to release “jaw-dropping” reports of “problems and irregularities” under the former administration.

It is a clear attempt to conceal their dealings, not address the pertinent issue at hand and change the conversation, hoping the public forgets.

After promising to appoint a minister to the post of finance minister since the resignation of Peter Turnquest, Prime Minister Hubert Minnis said he will continue to serve in the position for the remainder of the term.

Minnis was sworn in as interim minister of finance last week, saying he will make a substantive appointment. However, Sunday during the national address, Minnis says he will remain in the post for longer than expected but will be surrounded by a team of experts.

Minnis’ new post met with opposition by Philip Davis

Opposition Leader Philip Davis issued a statement following Minnis’ announcement on Sunday. Davis doubts that Minnis is suited for the post as minister of finance.

Davis said, “No one in the Bahamas believes that Hubert Minnis is qualified to act as Minister of Finance.

“He has admitted in private that he is no good at figures. The fact that he is choosing to remain as Minister of Finance is an admission that no FNM MP is qualified to occupy that vital position even as the nation faces an extremely serious economic and fiscal crisis,” Davis said.

Minnis to be assisted by a junior finance minister

PM Minnis will be assisted by a team including Senator Kwasi Thompson, who will be the Minister of State for Finance.

Over the past nearly four years Thompson has been Minister of State for Grand Bahama,  promoting digital technology and training.

Minnis said Thompson will now focus on the economic needs and recovery of Grand Bahama, Family Island development, and the ongoing digital transformation of the Bahamas and the government.

Thompson, in a statement, said his areas of focus are the Government’s Digital Transformation, Cashless Initiatives, Ease of Doing Business, Digitizing the Investment process, promoting the Digital Economy, and E-Commerce Development.

He said, “As the new Minister of State, we will continue to consult broadly with business stakeholders, civil society, consumer groups and the general public to ensure the policy positions of the Government reflect the realities on the ground and are responsive to the needs of our citizenry. The public can feel free to write the Ministry and to provide the policy feedback that will be vital as we move towards recovery.”

Featured Image: Bahamas Information Services

The unemployment benefit will decrease from $150 to $100, as announced by Minister of Public Service and National Insurance Brensil Rolle.

This is not the first time reduction has occurred. The benefits have undergone reductions prior. When the program was launched in March to assist people left unemployed by the coronavirus pandemic, the weekly payment was $200 but decreased to $150 on July 1st.

Is it enough?

While the $100 may be meager, Brensil Rolle believes it still provides a level of income for people who are without as the country grapples with a depressing economy for the last six months.

It is certainly not what people are accustomed to making.

“We want to make sure that individuals have the ability to make assistance. We don’t see ourselves as the instrument that provides the Rolls Royce. We are down to a Toyota.  When it reaches December, it will be nine months of continuous assistance to individuals,” Rolle said.

Why was it extended?

The program was intended for people left unemployed by the COVID-19 pandemic and was scheduled to run for 13 weeks. However, as the lockdowns persist, the need for continuous financial assistance remains great.

The assistance is also extended to people who would not normally qualify for the benefit.

“The government continues to provide assistance to individuals who we know are, maybe, desperate… We are doing our best to provide assistance and some income support to those individuals at this time,” Rolle said earlier this week.

“The first extension, as you may recall, was in July when we thought that we were going to reopen.

“We took individuals up to July and then we didn’t open, we added this program was to be 13 weeks. Now that we have the lockdowns, we extended the assistance through December.”

The big picture

• During the COVID-19 crisis, the government-funded unemployment assistance Programme for Self Employed persons – $15.61 Million to just over 7,000 recipients. Recipients were paid $200 per week for up to 12 weeks.
• $56.1 million have been paid to 30,788 persons as of October 11, under the  Unemployment Extension Programme. This programme is still on-going for persons still unemployed due to the coronavirus pandemic. Persons were paid up to $150 per week for an additional 13 weeks.
• The ordinary NIB unemployment benefit for contributors to the NI Fund – $91.6 million for just under 37,061 claimants. This program is on-going for eligible beneficiaries. Beneficiaries are paid at the rate of 50% of the insurable wage for up to 13 weeks.