NASSAU, Bahamas — Prime Minister Philip “Brave” Davis delivered the 2022/23 Budget Communication in the House of Assembly on Wednesday, saying it would “steer the country in a new direction,” The Tribune reported on Wednesday, May 25, 2022.
KEY POINTS:
- The government has submitted the proposal to BPSU to increase minimum wage in the public sector with incremental increases starting in July 2022. Union leadership has also been engaged on the issue of a contributory pension plan.
- Funding has been provided to increase the salaries of teachers and to pay a retention bonus to teachers and nurses.
- Funding for NGOs has been increased by 10 percent across the board. The government has provided allocations to the two feeding programmes headed by Bishop Walter Hanchell and Bishop Lawrence Rolle.
• All property owned by religious organisations, trade unions, civic organisations and burial societies will be exempt from Real Property Taxes. - 10 percent of overall revenue collected in the Family Islands from property tax and road traffic fees will be allocated to the creation of a Family Island Development Trust Fund in the amount of $200 million. This fund will facilitate the government in making investment in Family Island infrastructure.
- $10 million has been allocated for catastrophic healthcare, so government can provide assistance to long-term dialysis patients, heart patients and others facing serious medical issues.
- Funding has been provided to the Grand Bahama Health Centre Development Company, the entity which will construct the Grand Bahama Hospital. This is being facilitated through a loan for $150 million, which is now being finalised.
- $6 million in funding allocated for the purchase of new vessels for the Royal Bahamas Defence Force. Capital allocation increased for the RBPF to allow them to purchase the necessary crime fighting tools.
- The government is investing in the construction of a new prison complex, using a Public Private Partnership vehicle.
- Social assistance has been increased by 50 percent in comparison to pre-pandemic levels. This increased assistance is to be disbursed through the re-introduction of a conditional cash transfer programme, commonly referred to as the RISE programme.
- Duty has been reduced on a significant number of food items.See article in The Tribune at http://www.tribune242.com/news/2022/may/25/202223-budget-key-points/
