03312020 NEWS AND SPORT

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VOLUME:117 No.90, MARCH 31, 2020

THE PEOPLE’S PAPER: $1

HEALTH: WHY MIDDLE-AGED MEN ARE ALWAYS TIRED

HELPING HAND Turnquest extends benefits package to assist self-employed By KHRISNA RUSSELL Tribune Chief Reporter krussell@tribunemedia.net THE government will expand its unemployment assistance programme to self-employed people outside of the tourism industry, Minister of Finance Peter Turnquest announced yesterday. Speaking in the House of Assembly, the deputy prime minister revealed a number of planned measures to bolster workers who are struggling due to the economic fallout from the COVID-19 pandemic. He also painted a bleak picture of the future, adding

that because of the “seismic halt” of the country’s tourism sector, the country may end up in a more dire condition if the COVID-19 crisis continues in the mediumterm. Officials had earlier predicted an economic loss of $1 billion by mid-July because of the crisis. He did not say what officials now project the longer-term fall-out to be. The extension of aid to licenced self-employed outside of the tourism sector involves a Ministry of Finance initial budget of $5.9m. SEE PAGE THREE

...BUT BUSINESSES SAY WE’LL NEED A LOT MORE By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE government was yesterday urged to “marry health with economics” to maximise the “phenomenal gesture” of its $60m bid to safeguard up to 10,000 jobs through tax credits and deferrals. Robert Myers, the Organisation for Responsible Governance’s principal, told Tribune Business that the complete lockdown imposed upon many businesses meant they would enjoy little benefit from the initiative unveiled yesterday by Peter Turnquest, deputy prime minister. While acknowledging the government was showing

“a real willingness to help companies and employees stay alive” amid the COVID-19 pandemic, Mr Myers argued that the combination of tax deferrals and credits “doesn’t make sense” unless businesses were allowed to operate at closer to 50-60 percent of their revenue-earning capacity. And he added that the deferral element, which could amount to a maximum of $300,000 for qualifying businesses, still represented a “significant liability” that companies ultimately will have to pay back to the government since it has only been postponed not forgiven. FULL STORY - SEE BUSINESS

PASSING THE BATON PAUL Rolle was sworn in as the newest commissioner of the Royal Bahamas Police Force yesterday, taking over from Anthony Ferguson. Full report - Page 7 Photo: Patrick Hanna/ BIS

SHOPPERS MUST PLAY FUSION NIB PROBLEMS BY CRISIS RULEBOOK ADD TO STAFF WORRIES By FARRAH JOHNSON fjohnson@tribunemedia.net GROCERY store managers support new shopping restrictions outlined by Prime Minister Dr Hubert Minnis, but they fear the public will not adhere to the new rules unless they are strictly enforced. Super Value employees said shoppers were still frequenting grocery stores yesterday, a day after Dr Minnis said families should

designate one shopper per household to reduce crowding in the wake of the COVID-19 pandemic. On Sunday, Dr Minnis also revealed the government plans to introduce a food shopping schedule where shopping days and times will be designated based on the first letter of a person’s surname. He said details on these measures would be released soon. SEE PAGE TWO

By KHRISNA RUSSELL Tribune Chief Reporter krussell@tribunemedia.net

WHEN Ben Brown went to the National Insurance Board to claim benefits recently, he was surprised and dismayed to learn that his employer, Fusion Superplex, allegedly had not paid the majority of his NIB contributions. It was a “punch in the gut” for the 27-year-old father who was hoping for

his case to be processed quickly so that he could receive financial assistance from NIB. Receiving the benefit was the only way he could possibly see his way through after the company placed him on unpaid leave due to economic fallout from the COVID-19 pandemic. Instead, Mr Brown said NIB told him assistance would be delayed as they SEE PAGE FIVE

‘NYGARD TRIED TO SHORT-CHANGE US’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

PETER Nygard’s “alarming response” to the crisis engulfing his fashion empire was to threaten to transfer its assets to a new company just one day after stepping down as chairman. His plan to save his business from “the self-admitted worst financial crisis in its 52-year history”, and potentially leave creditors out to dry, is

PETER NYGARD detailed in court documents filed by the Nygard Group’s stunned lenders who

successfully petitioned the Canadian courts to place it into receivership. Robert Dean, White Oak Commercial Finance’s executive vice-president, alleged in a March 23, 2020, affidavit that Mr Nygard’s fashion retail and distribution conglomerate had been teetering on the verge of “bankruptcy” since last year without lenders stepping in to provide funds. FULL STORY - SEE BUSINESS

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