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TUESDAY, MAY 20, 2025
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Halkitis confident govt will hit Budget target By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net MINISTER of Economic Affairs Michael Halkitis said he is “very confident” the Davis administration’s full-year target for 2024-2025 will be met after the Ministry of Finance unveiled an estimated surplus of $58.6m for February 2025. According to February’s Fiscal Summary report the first monthly surplus of the fiscal year was due to a 20.8 percent increase in revenue collections during the month driven by tax collections and a slight decrease in spending. “This outcome reflected a 20.8 percent ($50.4m) upturn in revenue receipts to $292.9m, alongside
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Talks held on moves to modernise labour laws BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net PROPOSED legislative changes to modernise labour laws were put before stakeholders yesterday for feedback - with topics including paternity leave, mental illness and trade unions. Cherrylee Pinder, CEO of CP Training and Consulting Services, said the recommendations were also submitted by stakeholders, including trade unions, Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC), the Disabilities Commission and others. There is still a chance for further feedback until June 15. Ms Pinder said the legal team and drafter will ensure the recommendations do not contradict or will work in tandem with other legislation. Labour and Public Service Minister Pia Glover-Rolle expressed her “excitement” regarding this next step in labour reform, noting that often proposals
a 0.5 percent ($1.2m) decrease in spending to $234.4m,” said the report. Speaking to Tribune Business, Mr Halkitis said he remains “very confident” that the Davis administration will also see a surplus for the remaining four months in the fiscal year and reach its budget targets. The report revealed that tax collections increased by 14.1 percent from the previous year, growing to $241.1m. In addition to an increase in VAT collection, non-tax revenue increased by 66.5 percent, which was due to receipt of dividends and surplus bank fees. “VAT receipts rose by $11.5m to $103.2m, reflecting improvement in the goods and services component,” said the fiscal report.
made are “met with a lot of cynicism”. “This meeting today represents a critical step towards validating the proposed amendments to the Employment Act and the Industrial Relations Act,” Ms Glover-Rolle said. “And we’re here to ensure that we not only move forward for national consultation and we’ll talk more about what the next step is after today, but ensuring that when we go to this national consultation, we understand that this is a product that we are taking to the wider public that is based
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MICHAEL HALKITIS
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‘Worst of the worst’ labour claims at Norman’s Cay BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
CHERRYLEE PINDER
“Taxes on the use and permission to use goods increased by $16.1m to $45.7m due to gains in business license fees. Non-tax revenue was higher at $51.8m, equating to a 66.5 percent ($20.7m) increase. This was driven by receipt of dividends and surplus bank fees.” The report also revealed that total expenditure for February decreased from the previous month, but the $220.9m in recurrent outlays represented a gain of 2.6 percent from the prior year. “Public debt interest decreased by $2.5m to $23.1m. Subsidies increased by $9.0m to $32.5m. Use of goods and services advanced by $3.0m to $57.2m. Social assistance and pension payments were
THE Department of Labour is set to make multiple visits to Norman’s Cay to resolve an ongoing investigation, which the department’s director described as “the worst of the worst”. With allegations of human trafficking, breaches of environmental laws, salary issues, mold infestations, unsuitable living conditions and “serious breaches of the Employment Act”, Howard Thompson said the investigation surrounding a Norman’s Cay Resort Project is his “number one
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HOWARD THOMPSON
noted two immigration officers joined he and his team to Norman’s Cay, utilising the Royal Bahamas Police Force plane on the last-minute “emergency expedition”. “But what I would like to say is that we will be going down there at least two to three times every month until we resolve all of those issues,” Mr Thompson
said. “The allegations present themselves to the point where I’m almost able to say that this is the worst of the worst that I’ve heard of in terms of complaints [at the] Department of Labour ever since I’ve been the director. And so this has my priority. This is number one priority for me and the Department of Labour and Immigration won’t rest until we get all of these issues resolved. “There’s also allegations of human trafficking. There’s allegations
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Sandals property $1m contract to improve mix-up resolved, South Andros water signed says tax dept By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
By FAY SIMMONS Tribune Business Reporter jsimmons@trribunemedia.net THE Department of Inland Revenue has confirmed that issues with Sandals property listing are resolved. John Williams, communications lead at the Inland Revenue Department, told Tribune Business that the five Exuma properties owned by Sandals that were included on the Department of Inland Revenue’s (DIR’s) latest auction listing have been resolved. He explained that the tax agency still had the previous owners listed in their system and no declarations were on file to prove the hotel chain owned the properties. Once Sandals presented the necessary declarations and documents, the information was updated in the system. Sandals issued a statement noting that the properties were listed due to “inaccurate records” by DIR and the mistake will be rectified by the department. “We are aware of recent media reports suggesting that private properties owned by Sandals in Exuma are slated for auction. We wish to state categorically that is an error stemming from inaccurate records at the Bahamas Department of Inland Revenue,” said Sandals. “We have been assured that the mistake will be rectified and no bids for these
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THE Water and Sewerage Cooperation (WSC) has signed a $1.04m contract to improve the water infrastructure in South Andros. The contract awarded to Apex Pavers Company Limited will result in the installation of approximately 13,400 linear feet of four-inch water mains, ten new service laterals and associated fittings. The project aims to connect the reverse osmosis water plant in Kemps Bay with the Wellfield in the Bluff and create a physical and operational link between the island’s two main water supply sources. Leon Lundy, Minister of State with responsibility for WSC and MP for Mangrove Cay, Central
& South Andros, said the project will improve the reliability of water service in the area and will have a “major impact” on their lives. He explained that there are often disruptions to the water supply during the night and the project will increase the amount of available water and improve water pressure. “This will provide reliability. Right now, there are some distribution issues, mainly at night with the pressure, and this will shore up the amount of water that we’re receiving down in the southern end of South Andros. So definitely, this will be impactful right away,” said Mr Lundy. “The residents sometimes they have disruptions that occur between 10 and five o’clock in the morning. So definitely this will be
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WATER AND SEWERAGE COOPERATION (WSC) SIGN