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VOLUME:114 No.133, JUNE 1ST, 2017

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Govt will borrow $722m to pay bills

Christie administration ‘left the cupboard bare’, says Finance Minister By KHRISNA VIRGIL Deputy Chief Reporter kvirgil@tribunemedia.net THE Minnis administration projects borrowing more than $722m to cover inherited outstanding bills along with the costs associated with running the country moving forward, after discovering the current fiscal year is “far bleaker” than anyone could have imagined as the Christie administration left “the cupboard bare,” according to Finance Minister K Peter Turnquest. The deputy prime minister explained that $400m is needed to satisfy expenditure for the past year, while $322,462,707m will be borrowed for the 20172018 Budget, amounting to a whopping $722,462,707m. Describing the new ad-

ministration’s position as “difficult” because it has to grapple with an “historically high burden” of government debt, Mr Turnquest said to continue on this track is “destructive.” Therefore, he said the government will have to run a ship that is fiscally prudent with an agenda of change aimed at eliminating the deficit to return the debt level to more sustainable levels. He further pledged to table in Parliament a complete list of subsidies the government awards to foreign developers so that Bahamians can see not only where value added tax (VAT) dollars were spent but how other tax dollars were handled by the previous government. SEE PAGE THREE

PRIME Minister Dr Hubert Minnis alongside Deputy Prime Minister and Finance Minister Peter Turnquest carrying his red box containing the Budget as the House of Assembly resumed yesterday. Photo: Terrel W. Carey/Tribune Staff

HURRICANE AND SHORTFALL OF REVENUE $10M PAID IN NHI CONSULTANCY FEES AND BLAMED BY DAVIS FOR $400M EXTRA DEFICIT $30M IN ROADSIDE CONTRACTS IN PAST YEAR By SANCHESKA DORSETT Tribune Staff Reporter Sdorsett@tribunemedia.net OPPOSITION Leader Philip “Brave” Davis yesterday blamed Hurricane Matthew, a shortfall in income revenue and a reduction in taxes for a $400m overrun in the country’s GFS deficit. The GFS deficit at the end of June is projected at $500m, according to Minis-

ter of Finance K Peter Turnquest, five times the $100m forecast by the Progressive Liberal Party government, which was voted out of office on May 10. Mr Davis also criticised the Free National Movement (FNM) for planning to borrow an “unprecedented” $723m - which covers a period of two fiscal years. He accused the FNM of providing “a false narrative” to cover for the fact

that “they cannot live up to what they promised in the general election”. He said the FNM made “wild promises based on a lack of understanding of the economy” and now that they are in the government they have to face the reality. The former deputy prime minister also denied that the PLP made “deals” months, weeks or days SEE PAGE FIVE

By RASHAD ROLLE Tribune Staff Reporter rrolle@tribunemedia.net THE Christie administration paid over $10m in consultancy fees for National Health Insurance in the last fiscal year, Deputy Prime Minister and Minister of Finance K Peter Turnquest revealed yesterday. This includes money paid for NHI’s public relations

activities that were conducted by a foreign firm, he told The Tribune. During his budget communication, Mr Turnquest said the Christie administration also spent $30m in the last fiscal year for “roadside contracts” in New Providence under the Beaches and Parks Authority, even though the authority had been given an SEE PAGE SIX

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By AVA TURNQUEST Tribune Chief Reporter and COLIN C CORTBUS aturnquest@tribunemedia.net A DOUBLE homicide in Tampa, Florida, has landed the grandson of a longstanding Grand Bahama family business owner in federal court facing charges for possession of bombmaking materials as a confessed Neo-Nazi. Brandon Russell, a former St Andrew’s School Interna-

tional Baccalaureate student and grandson of Park ’N Shop owners William and Molly Russell, was charged last Monday after he was arrested during a traffic stop in Key Largo on May 22. Russell, a 21-year-old Tampa resident enlisted in the US Army National Guard, returned home from duty on May 19 to find the dead bodies of two of his roommates, Jeremy Himmelman and Andrew Oneschuk.

Police reportedly arrived a short time later with his other roommate, 18-yearold Devon Arthurs, who had held up a nearby smoke shop and confessed to killing the men because they disrespected his Muslim faith. Arthurs told police he had recently converted to Islam, and no longer shared the same Neo-Nazi beliefs as his roommates. SEE PAGE TEN

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