THAT’S where the vat money gone!
The now infamous phrase uttered on the stage at the plp convention by minister of state for finance Michael Halkitas kicked off a fire storm in the media and in The Bahamas that is still smoldering.
The PLP have given all kind of explanations that simply don’t hold water; Money can’t legally be earmarked for a specific purpose, All the money goes into the consolidated fund and so on and so forth.
A lot of fancy explanations to hide some simple truths that they do not want you to understand;
Simple Truth #1
Simple Truth #2
The Deficits have gotten worse after VAT.
The Debt to GDP Ratio has gotten worse after VAT..
Our credit rating has gone to JUNK status despite VAT
The government asked all of us to make a sacrifice and dig into our pockets a little deeper, because it was important that we reverse the growth in our Public Debt.
That was true and was THE justification for implementing the tax.
The tax ended up raising MORE revenue than was projected.
And the VAT revenue was taken and spent.
And we are worse off today fiscally.
These are incontrovertible FACTS. The PLP government has mismanaged our finances to a degree never seen before and for that alone they deserve to be fired.
I cannot tell you that the other party will be better, but I can say that we cannot continue with this crew of despots that we have now.
We must have a change in Government and then be vigilante with the next crew to ensure that they do not go down this same road.