National

FNM Blasts Gov’t Over Inflation Response

NASSAU, BAHAMAS – The Free National Movement blasting the government for what they are calling the government’s broad approach to inflation as pointed out in a recent Inter-American Development Bank report.

Published

2 years ago

December 29, 2022

Berthony McDermott

FNM Leader Michael Pintard is hitting out at the government’s umbrella approach to tackling inflation.

His comments follow an IDB report that indicates a more targeted response to the inflation crisis would have benefited the most vulnerable.

In response, the prime minister said the government is doing all it can and invited the IDB to look at what the government is doing.

The IDB report added government’s recently expanded price controls are likely to deal a bad blow to small and medium-sized enterprises.

Additionally, it said the temporary addition of more categories of food and medicine to the price control list and the increase in VAT exemption ceiling for Bahamas Power and Light bills, is too broad.

It’s a sentiment shared by former Prime Minister Dr. Hubert Minnis, who says there needs to be a greater focus on low-income residents.