Mixed Reviews on NIB Rate Hike

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GRAND BAHAMA, BAHAMAS – Prime Minister Philip Davis announcing on Tuesday that a rate increase will be coming at the National Insurance Board in July 2024.

Our News team spoke to residents today to get their take on the announcement.

Residents sharing mixed views as it relates to the announcement of a rate increase at the National Insurance Board. 

Although retired, Pastor Washington Williams is in favour of the increase. 

Terra Rahming says as long as the rate increase is a necessity, she supports it.

Meantime, Christine Fernander says she does not support the increase. 

The prime minister did not indicate how much the rates will increase, but he did announce that it will come in to effect July 2024. 

These residents say there is sufficient time for Bahamians to prepare.

While the anticipation is that the economy will be in a better state by 2024. Miller says he believes the timeframe is still not enough.

Fernander adding that as a businesswoman, she believes one year is still not enough time.