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8, 2021
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The Tribune L A T E S T
Volume: 118 No.126, May 27, 2021
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PRIME Minister Dr Hubert Minnis in Parliament yesterday. Photo: Donovan McIntosh/ Tribune Staff
• $100m for major upgrades to the PMH and Rand
• GB and Abaco to retain Dorian tax breaks til year end
• Radical plan to force commercial landlords to pay property tax
By RASHAD ROLLE Tribune Senior Reporter rrolle@tribunemedia.net GOVERNMENT debt remains on course to top $10 billion by the end of the next fiscal year as the Minnis administration commits to substantial deficit spending to help the country rebound from the COVID-19 pandemic. Prime Minister Dr Hubert Minnis unveiled his administration’s combination of tax concessions, targeted tax increases and spending plans during his budget communication yesterday.
• Airbnb rental to be made fully VAT rated to raise $31m
He also tabled a resolution in the House of Assembly that would authorise the government to borrow $871,645,371 for the next fiscal year. He tabled another resolution that would let the government borrow $68m beyond what Parliament approved it to borrow for the current fiscal year which ends in June. The deficit is projected
FULL COVERAGE INSIDE ON PAGES 2,3,4,5 & BUSINESS SECTION
• PLP: ‘No plan, no big idea and ignores the growing debt crisis’
to be $951.8 million in the 2021/2022 fiscal year. “While the deficits proposed in the current budget remain at very elevated levels,” Dr Minnis said, “they are necessary to sustain the economy and set the stage for the impending economic rebound. Extraordinary times call for an extraordinary response. Unprecedented economic calamities must be met with unprecedented fiscal and policy initiatives.” SEE PAGE THREE
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