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TUC threatens strike action ‘in short order’ BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net INDUSTRIAL action has been pledged “in very short order” by the Trade Union Congress (TUC) - with the airport and the foot of Paradise Island bridge to be targeted. The action comes as the TUC supports the Bahamas Taxicab Union (BTCU) and the Bahamas General Workers Union (BGWU). It follows complaints that livery drivers are being allowed to “steal” jobs from taxi drivers. The TUC includes thousands of members in its affiliate unions. Obie Ferguson, president of the TUC, yesterday told
OBIE FERGUSON The Tribune that there may be possible industrial action in the near future - and said it would likely take place at the airport and PI bridge.
Govt: Report shows we’re moving in right direction By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Office of The Prime Minister in a statement yesterday said the Fiscal Responsibility Council’s Annual Budget report demonstrates the country is “moving in the right direction” and they will not be “distracted” while on the path of fiscal consolidation and continued growth. While acknowledging the findings of the FRC report, the Davis administration said they are committed to reducing
the debt to GDP ratio to 50 percent by fiscal year 2030/2031 and supporting growth and job creation. “The government remains confident in the overall direction of its fiscal and economic strategy. We have charted a clear path to reduce the debt-toGDP ratio to 50 percent by FY2030/31, while continuing to support growth, job creation, and targeted social investment,” said the statement. “The council itself has confirmed that The Bahamas is broadly compliant with the Public Financial Management Act, 2023,
Both Mr Ferguson and Tyrone Butler, president of the BTCU, spoke at a press conference on Monday at the BCPOU hall on the and that our debt trajectory is on a downward course. “The government is unapologetic in its commitment to ensuring that fiscal policy is not pursued as an end in itself but as a means to improve the daily lives of Bahamians. Decisions such as adjusting the VAT rate on essential items are designed to ease cost-ofliving pressures on families at a time when inflation and global shocks remain very real concerns.” While the FRC report acknowledged that both recurrent and capital expenditures through the first nine months were generally in line with the budget, it emphasised that the government must deliver a $96.6 m surplus in Q4 to meet its fiscal objectives. The council warned that potential underperformance in certain revenue categories could threaten the achievement of this goal.
challenges plaguing the transportation industry. The two locations targeted are those the BTCU have complained are in support of allowing livery drivers to service tourists. “Things are getting worse, and it’s reasonable to assume, after talking with the president last night [Monday] and after talking with the group of taxi drivers, there’s likely to be, in very short order industrial action at the airport,” Mr Ferguson said. “They are not treated properly. They are not respected as they ought to.” Mr Ferguson also said the Nassau Airport Development Company [NAD] “is charging taxi drivers $1 which the taxi drivers must The report also found the government failed to comply with two critical requirements: oversight of public enterprises and transparency around public-private partnerships. While acknowledging these concerns, the Davis administration said their approach is “guided by realism and prudence” and maintained providing SOEs with capital investments will allow them to improve service delivery. “The government recognises that the council has raised questions about revenue targets, expenditure ceilings, and the treatment of capital spending. Our approach is guided by realism and prudence,” said the statement. “The decision to allow SOEs to undertake critical capital investments is not an attempt to obscure expenditure but to accelerate national development through entities best
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Air Canada resumes flights By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net DIRECTOR of Aviation Kenneth Romer said Air Canada will resume flights to the country today after reaching a settlement with their union. The airline began suspending services last Wednesday in response to a strike notice by its Flight Attendants Union, leading to cancellations for all their destinations. “We are pleased to confirm that Air Canada has announced that it will gradually resume service today after reaching a mediated settlement with its Flight Attendant Union, allowing Customers to once again book and fly with confidence,” said Dr Romer. “We expect a resumption of the airline’s scheduled Nassau operations beginning tomorrow” About 10,000 flight attendants walked off the job on, claiming Air Canada failed to address their demands for higher pay and compensation for unpaid ground work, including during boarding. Their union defied two back-to-work orders from a regulatory tribunal, forcing Air Canada to push back plans to partially restore service. Dr Romer said displaced passengers received local assistance and he is
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DR KENNETH ROMER
PRIME Minister Philip “Brave” Davis tours remediation efforts taking place at the Fort Fincastle water tower. Photo:Dante Carrer/Tribune Staff
Water tower improvements ‘will broaden site’s income’ By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net OFFICIALS from the Antiquities, Monuments and Museums Corporation say improvements to the water tower will “broaden” the site’s income base. Don Cornish, managing director of the Antiquities, Monuments and Museums Corporation, while not able to confirm when work on the water tower will be completed, told reporters stakeholders will benefit from the improved facilities. “There have been some delays that were accounted for by rain and some other particulars regarding the vendors on site. We’re anxious, obviously, to get a clear understanding of when the construction will be completed. But we’re not anxious to get it done if it’s not properly done,” said Mr Cornish. “Obviously, you want to make sure the site is user-friendly, userready, and that we can return it to the proper tenants, which is the stakeholders, and give them an opportunity to benefit.”
The government announced a four-month closure of Fort Fincastle to facilitate the repairs in March and relocated straw vendors to Fort Charlotte while repairs were being completed. With the deadline now passed, vendors have become “anxious” as the government has not disclosed how long their temporary arrangements will be extended. When Tribune Business visited Fort Charlotte last month, vendors had complaints about slow sales, extreme heat, damaged goods due to rain leaking though the patched tarps and rodent infestation Mr Cornish said officials has discussed the delays with both the Straw Market Authority and the Straw Vendors Association and encouraged vendors to “be patient” while repairs are being completed. “We’ve spoken to them. They have interest in determining the date. The initial conversation that we had said and we had all agreed… we had estimated for July finish. There have been some
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add to the fee paid by the customer”. “This is not permitted in law, and for which the taxi drivers get no benefit from it,” Mr Ferguson added. “We say that is wrong. And even if there was going to be a charge, at least 50 cents ought to be paid to the taxi drivers for the benefit of the organisation and for the benefit of their members. Bearing in mind, taxi drivers do not have no insurance in some instances. And when they’re sick, they have to reach in their pockets to pay medical bills, etc, which makes it much more difficult, because the stations where they work traditionally, those stations are now being challenged by other
users, and it reduce their chances of excess money. So you can rest assured that the Taxicab Union, will be taking action, which will be joined by the TUC. The TUC will support them, and they struggle to get back to where they were in 1958. One will be at the airport and one will be at the bridge. “The next step we’ll be looking at is Paradise Island, at the foot of the bridge. We have to do something to protect Bahamian workers. And we’re asking for all Bahamians, no matter what political side they are on... [it] doesn’t matter. We are not fighting politics. We are
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$30m loan from IDB to help Blue Economy By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Davis administration has signed a $30m loan agreement with the InterAmerican Development Bank to support small and medium-sized businesses in the Blue Economy. Prime Minister Philip Davis said the blue economy is “filled with untapped potential” and the IDB financing will allow entrepreneurs to capitalize on the broad range of opportunities in the sector. “This sector is filled with untapped potential, and we have targeted the vast potential within the blue economy as one of the pillars of our economic diversification strategy,” said Mr Davis. “Capitalising on the value added from fisheries, shipping, and marine biotechnology will require new strategies and partnerships to expand the production of goods and services beyond traditional exports.” He said in addition to providing investment opportunities for entrepreneurs the project will also fund the construction of visitor centres on Family Islands and signage at historical sites.
PHILIP DAVIS A portion of the proceeds will also be used to fund Bahamas Agriculture and Marine Science Institute (BAMSI) and initiatives to mitigate the effects of climate change. Mr Davis explained that $17.735m will be spent on local businesses, $5.05m has been designated for BAMSI and $4.77m will be used on climate change mitigation efforts. “Component 1 is focused on small business support. $17.735m will support small and medium-sized enterprises with small loans, grants, and guarantees for developing sustainable tourism, aquaculture, and mariculture initiatives, said Mr Davis. “Under Component 2, $5.05m is designated for
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