Business

Economic update falls flat, says Cooper

Other than to pray tourism gets going again soon, Progressive Liberal Party (PLP) Deputy Leader Chester Cooper said the Minnis administration still has no clear economic plan.

Cooper, who is also the shadow minister of finance, criticized Deputy Prime Minister and Minister of Finance Peter Turnquest’s report on the fiscal state of affairs in the House of Assembly yesterday, as having provided no new information, only weeks before governmental assistance programs run out, leaving average Bahamians anxious.

“As small and medium-sized business owners who were forced to shut down in July and August are still reeling, there was not much additional hope offered for them either. Despite the government boasting of spending $1.3 million a week, many Bahamians are still unable to access assistance efficiently for the basics of food and shelter,” Cooper said in a statement.

“There is still no clear economic plan put forward by this government, other than to pray tourism gets going again soon. Clearly, the plan does not inspire the confidence of some of the largest stakeholders, as they call for more predictability of the emergency orders and widespread testing, as has been the constant recommendation of the PLP.”

Cooper, who has in recent weeks called for an inquiry into the state of the Public Treasury, said the assurance given by the minister that the treasury “remains intact” is insufficient.

“We have yet to hear or see detailed reports of the state of the Treasury, as we have requested multiple times,” he said.

“In the spirit of transparency, it is not sufficient for the minister to say that “the position of the public treasury is secure”. That is just spin. He needs to submit the requested reports.”

Cooper said the PLP intends to soon dissect and make a virtual presentation on what it believes is the fiscal reality of the economy.

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Paige McCartney

Paige joined The Nassau Guardian in 2010 as a television news reporter and anchor. She has covered countless political and social events that have impacted the lives of Bahamians and changed the trajectory of The Bahamas. Paige started working as a business reporter in August 2016. Education: Palm Beach Atlantic University in 2006 with a BA in Radio and Television News

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