Look at those hands, just waiting to grab something. But here is a man who claims to be an ECONOMIST. Here in this photo is a man who last year November told the press that the economy is expected to grow in 2008 and that a recession or slowing up of the Bahamian economy is only a “figment in the imagination” of some people. But today, a year later, the Parliament’s CRYBABY Laing was in the House of Assembly saying that the global crisis is the worst ever since the GREAT DEPRESSION. So much for an economist. What do you think his opinion of the FNM’s work to date in the government is? Ooooooooh, let’s not go there. And the next time you see the Parliament’s ‘Crybaby’ Laing someone please tell him, TALK HIS BACK SEAT AND STOP JUMPING TO THE FRONT BENCH! THE ‘CRYBABY’ ALWAYS TRYING TO TAKE SOMETHING THAT AIN’T HIS!
Nassau, Bahamas: There was in the House of Assembly today much talk of the recession. It was just in June 2007 when Hubert Ingraham announced in parliament that the Nassau Airport Development Company [NAD] and the Airport Authority would impose a service tax on travellers moving through the airport. That fee which was introduced then was $20. At that time Ingraham told the Bahamian people that NAD will raise its own funding in the $400 million overhaul at the airport (after all that is why we the people agreed to move the airport ownership to a private manager’s hand).
But Ingraham must believe we, the people of this country, are as STUPID and FOOLISH as he is, to accept what he said today. Ingraham said today in parliament that his government (us THE PEOPLE) will takeover a $50 million dollar expense, driven up by the new airport managers. BUT WAIT, we still have fresh in our his his words of last year, that NAD will provide its own funding!
Bahamas Press cannot believe Bahamians are being duped again by this UNCARING WUTLESS INGRAHAM ADMINISTRATION, who believes in everything FOREIGN AND NOTHING BAHAMIAN! And here is his record at the airport to-date;
Ingrahm raised the taxes at the airport on the Bahamian people in JUNE of 2007 to $20. His government delivered the airport into foreign hands (NAD). He allowed legislation to allow NAD to manage private security at the airport (putting that into foreign hands). And as a result, Ingraham quietly saw 75 airport security bag handlers in the upper floor of the terminal, lose their jobs in the summer of this year. And now today whilst in Parliament Hubert told members that the fees of everyone using the airport will now be increased AGAIN to $25?
We at Bahamas Press are wondering when will we Bahamians accept that slowly day by day, INgraham can careless about us the people of this country? Now today – whilst laughing with halitosis – Ingraham went on to say that NAD now cannot fund their initial construction start up cost (contrary to what he said months earlier) and that we the people who have no management control of the airport must now pay the $50 million cost overruns at the airport?
If the government cannot see NAD as good managers of the people’s asset, then we must resume control at that facility, after all we are the ones being hung by the noose of growing debt incurred by the airport.
Ingraham’s noose of high TAXES, RISING DEBT and POVERTY is KILLING THE BAHAMIAN PEOPLE, and YOU ALL BETTER WAKE UP BEFORE HE KICKS THE CHAIR FROM UNDER US!
Govt deficit deepens – increased 18% to $60 million. Now what?
Media: While I see your point, I caught the explanation that when negotiating with NAD there was a specific estimate for the work that was to be done and it was underestimated by 11 million for one phase and 39 million for another. These contracts were negotiated by the government and not the new management team so the question becomes who should be responsible?As to the the increase in fees to the public; again the costs for the updating of the airport were underestimated by the then government and were unrealistic. Shouldn’t this be on the government’s back? The tax increase is for international flights only and not for inter-island flights. None of us wants tax ncreases but sometimes it is unavoidable. Mr. Christie gave his rationale for the 15 dollar amount but it is not sufficient. Another problem is indeed the lack of good reporting by both ZNS and the Newspapers. Someone at these entities needs to examine all aspects as well as ask appropriate questons before reporting these things! Misinformation is worse than no information. Keep after them!
Okay case and point. I Told you all from Jan. This year that Laing was wrong on his prediction on the economy now read this article from The Bahama Journal:
Flat, Negative Growth Possible
BY BRENT DEAN
The Bahamian economy could experience flat or negative growth this year, according the Central Bank governor Wendy Craigg.
“Well, we know that the first half of the year was supported by foreign investment inflows, a relatively good tourism performance based on pricing. The second half of the year was probably a decline. And on balance it could be flat to negative,” said Mrs. Craigg on Monday night.
The Central Bank governor was responding to a question at Breezes after addressing the Rotary Club of New Providence on the state of the Bahamian economy in the wake of the global financial crisis.
The economic outlook for The Bahamas has not been good of late as the financial crisis continues. The International Monetary Fund recently downgraded growth rate projections for the Bahamian gross domestic product (GDP) to 1 percent for this year and 1.25 percent for next.
More than 1,000 workers in the hospitality industry have lost their jobs in recent weeks, led by the more than 800 let go by the Atlantis Resort. Additional layoffs are expected in the new year if occupancy levels are poor during the all important holiday season.
Indicating that the economy is entering a phase of decline, Prime Minister Hubert Ingraham, who is also finance minister, said on Sunday at a news conference, foreign property purchases in The Bahamas have declined by an estimated 18.9 percent this year.
In his address to the nation on the state of the economy several weeks ago, Mr. Ingraham also revealed the number of non-performing loans – that is, loans on which payments have not been made for at least three months – had increased by nearly 40 per cent.
The government is also expecting a revenue short fall of $150 million as compared to what was projected before the financial crisis. This will significantly expand this year’s budget deficit, which was project at $235 million when the last budget was presented.
The boost in state spending to offset job losses in the private sector will also widen the budgetary gap.
The Ingraham government has proposed millions of dollars is spending on capital works such as government office complexes in New Providence, Freeport and Abaco; along with infrastructure projects such as the $120 million New Providence Road Improvement Project.
Due to the lag effect with events occurring in the US, and the consequent effects in The Bahamas, Mrs. Craigg explained to the Rotarians that the challenges The Bahamas will face growing forward are expected to be of a longer duration.
In their first six months in office, the FNM took some $220 million from the foreign reserve and $120 from the country’s excess liqiudity. What happened to that $340 million dollars? That could have been used, but they spent it already. On what? Now they want to tax Bahamians. This man is a swine. There is no end to his greed. I bet he is behind the sale of Batelco. Like he was instrumental in bringing Cable Bahamas here. His daughter married the man son, HI wants towatch his interest grow.
I thought it was only me who was wondering how the govt could just change their mind in midstream and come up with $50 million????
When they terminated all those contracted workers, they said that they did not have any money to keep them on and that was around budget time????
Then there’s the new court complex, they could not find the money to build that???
How come they can come out of the blue and find the means to get $50 million??? I am confused!!!
Now here is the boomerang to this whole ordeal today, THE WUTLESS PLP SAID NOT A SINGLE WORD about the $50 million cost in overruns at the airport, which we the people will now carry.
WHAT A SHAME! Now you all know we being nice when we respond in this fashion. BUT MY TEMPER FLARED WHEN I SAW THE HOUSE SITTING AND THAT BUNCH SITTING WITH THEIR LIPS PINNED!
Then today the people who report news in this country [THE WUTLESS MEDIA] could not communicate what the PM said in the House. One went as far as to say, “There is good news coming from the Airport.” MY GOODNESS, you mean the people who suppose to be excellent communicators don’t know how to interpret a communication anymore? Are we the only ones who can read the message through the colourful of words by the PM? MY GOODNESS!
OHHHHHHHHHH BAHAMASSSSSSSSSSSS! WE NEED CHANGE!!!!!!!!!
Bahamas Press/ Editor
As I said before, I still support Tommy for leader of the FNM… The man has a heart but right now he is being used by HI…
Joe Blow; HI came back for 2 reasons and they are:
1- Many thought that he was the only leader who could defeat PC and the PLP, and they were quite right…
2- To stop the Baha Mar project and scale it down, and that is almost completed…
The persons who wanted these things did not expect the world’s economy to go south so suddenly and we are all punishing now because of those few persons who spent plenty monies to bring HI back because of their greed!!!
Laing said that NO one expected the world’s economy to go the way it has gone…. I was told by a representative from the IDB who has now moved to another country in the Caribbean, from last year August to prepare myself because we were headed for a resession within the next year….
He told me to save some funds because it would last for 2-3 years…
Laing is an economist, how is it that he had no idea what was coming down?? But I aint surprised because he and his team were too busy playing politics!!
Tommy Turnquest, pretentious? No! arrogant? No! lost? possibly. He is mostly calm and accomodating. As to Mr. Ingraham: he could be termed opinionated,abrasive,abrupt,arbitrary,crafty but he is no fool and he does care about the country as a whole. If he did not he would never have come back to serve as Prime Minister.
Mr. Laing needs more life experiences before he will be seen as an asset to this country.
I thoght everything was smooth sailing in the HOA today until F.Smith made his presentation. Now there is a self-seving, arrogant and pretentious fellow.
Another waste of a seat in parliment!
I don’t expect anything else from HI… He does not need anything from us, we called him back so he does not care one way or the other about what we think about him!!
His pension is already set!!! As far as he is concerned, we could kiss his behind!!! If we fire him in 5 years he is still straight….
In other words, HI does not care about us
As for Laing….I now put him in the same category as Tommy Turnquest. “PRETENTIOUS, LOST AND ARROGANT”
Wow! That’s news to me. He did What? He gatta be insane! You were right, UNCARING WUTLESS INGRAHAM ADMINISTRATION, who believes in everything FOREIGN AND NOTHING BAHAMIAN!
A Natural sell out!
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