Papa and his Cronies Present the Borrow and SPEND Budget 2011/12

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The Outgoing FNM REGIME!

CLICK HERE TO READ THE 2011/12 National BUDGET STATEMENT

Prime Minister and Minister of Finance the Rt. Hon. Hubert Ingraham presented the 2011/2012 Budget Communication to Parliament, announcing a budget whose major emphasis is jobs and skills development.

Budget Highlights:

  • $25 million for the National Job Readiness and Training Programme – targeting 3,000 Bahamians for paid skills training for up to 1 year.
  • 200 job openings in the Public Sector (100 for college graduates, 50 for high school graduates with BGCSEs and 50 for high school graduates with only BJCs)
  • Subsidies to private sector companies that hire unemployed persons.
  • Civil servant Increments to be paid and salary scales opened.
  • Small & Medium Sized business exempt from Business License Fees through 2012.
  • $1.5 million for the Jump Start Programme – Providing up to $7,500 to persons aged 30 and over to start their own businesses.
  • Duty reductions on food items.

A JOBS BUDGET – 2011/2012 Budget Communication from FNM Restoring Your Trust on Vimeo.

18 COMMENTS

  1. I don’t know what all the fuss is about asking where the money is going to come from. it is quite evident where the money is coming from. Papa is a master magician, the money will come from the 49% dividend they will collect from LIME. ANd the countless work permits LIME will have to pay for bringing in foreigners

  2. I heard everyone including the Union Leader talking about a lump sum. First of all it is not across the board. only those who reached the maximum of their salary scale will receive a lump sum equivelent to your one year increment. For example if your increment is $400.00 you will get $400.00, so I dont no why all the grin are on these people faces.
    They would’nt get my V0TE.

  3. We must admire this FNM Government, you can beat up your mouth as much as possible, but they know how to get the money and use it.
    The hell with what they do with the money, after all… “Its ONLY MONEY.”

    I hope Mr. Christie learn from this, and fix “his” people when he gets in office.
    Unfortunately, if another party gets in office the lending institutions around the world will not lend us any huge sum until another 5 years.

  4. these jack ass need to move the tax of bahamians back and create some jobs so these guys will have a choice between crime and work *** the budget.

  5. No surprises here, The PM did as one should expect if you know how politics works especially with HI.,What disturbs me is:-
    1/. Most of the work or Job programmes are for 52 weeks
    Just until we are through the General Election.
    2/. Duty reduction on the iteme suggested are good,
    but these items is not the major purchased items
    purchased in the Country, with exception for
    Chicken
    3/. For 3 years nothing happened in the Civil Service
    all of a sudden every thing is back on track
    4/. Who will pay for this nonsensence
    5/. What happen to a reduction in the unbearable duty
    and licensing on vehicle etc. The PM is trying to
    keep Bahamians poor, no luxuries.
    6/. Nothing directed for Crime, which is our most
    serious concern
    7/. What happened to Capital Development, will we be
    stuck
    8/. If the unemployment stats is pegged at about 15%
    of our population, thats 50,000 persons out of a
    a job, besides about 5,000 will graduate this
    year, according to their budget only 3,000 jobs
    are being provided.
    9/. How is it that the Government will earn about
    $135m from the sale of 9% from BTC and 10% from
    the new dock terminal, who could have come up
    with these calculations, something is wrong here
    if we sold 51% to C&W for $210m, how can we sell
    from the 49% 9% and expect huge profits, if we
    talk about the new dock terminal, in order to
    receive such return at 10% the value must be
    over $800m.
    10/.What about a reduction on the fuel surcharge at
    BEC
    11/.What about the C&W phone rate reduction, then I
    heard where C&W was upgrading to G4 in other
    areas besides the Bahamas and Jamaica, what’s
    with that.
    12/.Nothing new, same old HI at it again

    For what it’s worth…

  6. A lousy budget that will wreak havoc on taxpayers as the Govt has no money to fulfill its promises and therefore must increase cost on grocery items.Reliable information has come to me that fruits and vegetables will be taxed and therefore foodstores will have to increase prices.Its really a suicidal budget which will cause much hardship on Bahamians.Many persons must tune into the the Budget estimates which are given after all members have spoken to get a fair idea on what is being proposed.The opposition which speaks must ensure that they actually make presentations based on what is in the estimates.I call it the “Leaky budget” that cannnot withstand scrutiny therefore I look forward to the debate and what lies Govt members will espouse to justify the many empty promises.This “Leaky Budget” must be exposed for just what it is.

  7. @discrete
    Go to the head of the class of those of us who has little or no respect for any degree or expertise, or lack off, that Minister Laing has/had/presents in regards to economics.. The explaination lacks foundation. Party for jackasses in 2012. LOL

  8. I done peep dey card.

    Dey move Brent from in the middle of the pack this time and give the brief case to the preferred Papa’s Preferred Deputy and Understudy.

    That is what Wikileak say!

    • Man Tom I am pacing up and down in the house, counting the time to morning so I could go pick up my Wikileaky report from the Guardian. The Guardian days of newspaper sales are back! Das the real morning newspaper.

      BP

  9. The PM and his Cabinet are clearly on crack. They are using one-off inflows from the sale of capital items for operating expenses. Only entities that unable to increase the top line do this and this usually precipitates insolvency. If you gern sell something, use the money to make money or REDUCE the principal amount of your debt. Don’t go buying clothes and jewellery for the girl you trying to check!

    • It sounded good listening to all the giveaways, but I too I’m concern with how we will pay for it all. But let’s remember this is the Bahamas,we gat sugar on our lips! Half of these things maynot take affect for another couple of years, if ever!It’s like the apprenticeship program announced during the last layoffs in Freeport. While persons went to those establishments looking for those announced opportuntites, instead they were told by the company that they knew nothing of any arrangements, there first knowledge was only know what they heard on the news!!

  10. The budget for 2011/2012 was done by the school of Ingranomics inspired by Banga Laing.

    Lets get this straight C & W contributed $210M to the budget by purchasing 51% of BTC. The Bahamain people will contribute $132M by purchasing 9% of BTC & 10% of the Arawak Cay Port. Damn 51% for $210M vs 5% for $136M. I guess that math was formulated by the same students of Ingranomics who said there ain’t no difference between 49% and 51%.

    Last year when there was a deficit there was a freeze on government hiring and no increments. This year there is an even bigger deficit yet increments will be given and the freeze is lifted. UMMMMMMM

    • Overall it was pleasing to know that our Government saw positive growth in a turbulent ecomomic times. I was good with the Budget until they started talking about lifting the freeze on public officers getting increments and salary increases.

      We are not quite out of the storm yet and I think a little more sacrafice over the next two year will be best for the country. Keep investing in our infastructure, improving eGoverment and taking the reduncancy out of the public sector jobs is key to a strong more resilient goverment.

      I think we should read the budget before we start going off on what the Government is not doing. Let’s give some credit for what they have done and what they are doing.

      Bahamas let’s get our swagga back…

      • We gettin murdered with taxes and you say TAKE THE WEED AND LEAVE THE MONEY you gatta be mad. I want what is rightfully mines; a chance to live. The man done hired hundreds of customs, immigration and police officers on the tax payers dime to secure his seat now he wanna talk about he is now lifting the hiring freeze. Mannn these people gat us for fools.

    • Note that they are getting DOUBLE increments along with those who are getting a one time lump sum! WOW maybe we already have money coming in from the oil drilling deal and they forget to tell us!!Ya tink!!

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