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VOLUME:114 No.170, JULY 27TH, 2017

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PM swings axe to turn round economy By SANCHESKA DORSETT Tribune Staff Reporter sdorsett@tribunemedia.net MAKING good on his promise to slash government expenses in an effort to balance the country’s books, Prime Minister Dr Hubert Minnis last night announced a variety of conservative fiscal measures, including a ten per cent cut in spending in all government ministries and no new public sector hiring. In his first televised national address as the nation’s leader, Prime Minister Minnis also said there will be no renewal of contracts for salaries which exceed $100,000 per year. He said he will ensure his ministers “adhere to their budgets and to financial constraints”. He also announced a reduction in government vehicles as part of a “new era of financial discipline”. Dr Minnis said because of the “recklessness and massive waste by the former administration,” his government “must get our financial house in order”. He accused the former Progressive Liberal Party (PLP) government of spending approximately “a

• 10% BUDGET CUTS TO ALL MINISTRIES • NO NEW RECRUITMENT • SALARIES FREEZE ABOVE $100,000 • CUT IN OFFICIAL CARS • CUT IN FOREIGN TRAVEL BUDGET quarter billion dollars” in the months leading up to the general election. “It is my government’s task to respond vigorously to the economic conditions which confront us,” Dr Minnis said. “In addition to reducing public expenditure, we must move to aggressively stimulate economic growth. One measure I announce this evening (Wednesday) is that all government ministries will have expenditure cut by ten per cent. There will be no new public sector hiring at this time. We must get our financial house in order. We must reverse the arc of government deficit and debt. We will appoint a special committee to advise on state-owned enterprises, with a view to reducing the burden of such enterprises on public finances,” Dr Minnis said. “There will be no renewal of contracts for emoluments

which exceed $100,000 per year. To further reduce expenditure, we will reduce the number of government vehicles. Unlike the former head of government, I will be extraordinarily more vigilant in ensuring that my ministers adhere to their budgets and to financial constraints. “I am not going to sugar coat the medicine that we are going to have to take to restore our fiscal good health. As a doctor, I know only too well that sometimes you need to deploy strong measures to get a patient’s fever to break as you seek to alleviate the symptoms and the underlying causes of ill health. “The former practice of bypassing the Ministry of Finance and bringing new spending requests directly to Cabinet, without review by the Ministry of Finance, is over.” SEE PAGE SIX

PRIME Minister Dr Hubert Minnis during last night’s national address.

Photo: BIS

‘POLITICIANS CAN’T GET RICH LEAVING THE POOR BEHIND’ By SANCHESKA DORSETT Tribune Staff Reporter sdorsett@tribunemedia.net PRIME Minister Dr Hubert Minnis said last night it is “unfair and unjust” for politicians to accumulate considerable wealth from corruption, while the citizens of a country, es-

pecially the poor, are left behind. During his first national address as this nation’s leader, Dr Minnis said while he will not comment specifically on cases concerning alleged bribery and corrupt practices by public officials, he believes that “all individuals should be treated

equally before the law”. Dr Minnis said he finds it disturbing that persons believe that politicians are above the law, when all around the world, public officials are regularly charged and found guilty of certain crimes. SEE PAGE SIX

GOVT TO TAKE STAKE IN GRAND LUCAYAN By RASHAD ROLLE Tribune Staff Reporter rrolle@tribunemedia.net PRIME Minister Dr Hubert Minnis revealed in his national address last night the government is negotiating to become temporary joint owners of the Grand Lucayan Resort in Grand Bahama in a bid to boost the hotel until it can sell off its equity. “The government is now involved in negotiations

THE GRAND Lucayan Resort. with the owners of the assets of Grand Lucayan in Grand Bahama and related

assets for the joint ownership of those assets in partnership with a number of

Nassau & Bahama Islands’ Leading Newspaper

investors,” he said. “As was done by the United States during the 2008 Great Recession, my government’s intent is to resuscitate and grow business to the Grand Lucayan as rapidly and as sustainably as possible, and thereafter sell its equity to one of the existing partners or other investors. “We have no intention of remaining as an owner in SEE PAGE SEVEN


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