On the May 2, the Progressive Liberal Party marked three years as the government of the Commonwealth of The Bahamas. After being ushered in on a wave of popular support by Bahamians, the PLP under the leadership of Perry Christie moved swiftly to lay the foundation for the future success and prosperity of The Bahamas.
The years leading to May 2002
The reality is that the PLP has in fact been working hard to restore the path of success that many Bahamians dream of and that had been lost by the wanton disregard and callous acts of incompetence by the former administration. The years of 2000 to 2002 were dismal for The Bahamas and many investors and Bahamians had no hope in the future under the then leadership. The economy was down. Tourist arrivals were at an all time low. The external reserves were at a dangerous level. There was no money in the Public Treasury to meet the government’s monthly expenses. The deficit was projected to be the largest in the history of The Bahamas. Many Bahamians lost any hope of owning their own homes. Crime was soaring and confidence in the Police was weaning. Overall, there was a settling hopelessness in the future of what many called a prosperous nation.
This country’s growing financial services sector was under severe attack after being blacklisted by the OECD. The manner in which the then government negotiated this nation’s removal of the blacklist was disastrous and followed a compendium of legislation that further drove a hard nail in the industry’s coffin. The once growing sector was demoralised and badly bruised after the then government accepted bad advice from local and foreign consultants.
Perhaps, the greatest tragedy that led to the almost ruin of this nation’s tourism industry was then Minister, Tommy Turnquest’s, decision to pull all ads that were appearing in the media in the United States after the 9/11 terrorist attacks. It was a stupid decision that led to the plummeting of the overall tourist arrivals to The Bahamas. Taxi drivers and hoteliers were all complaining, as they saw no hope in sight for the recovery of the industry under the former administration.
Overall, therefore, The Bahamas was badly in a need of a new direction. A new visionary leader with a bright and intelligent team of ministers was needed. The May 2002 election was one for the future of The Bahamas and the people voted in an overwhelming fashion for the PLP.
The PLP record in 36 months in office
There is no denying the fact that the PLP Government’s record in office in just 36 months has been a refreshing, brilliant and magnificent one. In all areas of the national politic, the Government has been able to systematically and deliberately transform the future for many Bahamians. This Government has been hard and fast at work to bring real relief and hope to our nation and there has been much to celebrate about over these past 36 months.
In every Ministry and in every single portfolio, the PLP has been able to show and to convince many Bahamians why they voted PLP on the 2nd May 2002 and why they trusted the PLP with the reins of the government.
There have even been some tradition nay-sayers who now agree that the PLP has been able to bring about remarkable success in just 36 months in office. And there are others, who consistently talk absolute rubbish that the PLP has done nothing. It is therefore for them that we set the record straight and put all of the facts to the Bahamian people in this series of articles so that they can see and read for themselves what the PLP has done in just 36 months in office.
The PLP has rescued the economy.
The external reserves now stand at an historic high of $720 million and is foreshadowed to reach $1 billion by the end of this year.
There has been almost $4 billion of direct foreign investment to The Bahamas in just 36 months in office. The islands of Mayguana, Crooked Island, Eleuthera, Abaco, Rum Cay, Guana Cay, Grand Bahama and New Providence are all the benefactors of a policy that speaks to the creation of sustainable touristic developments on family islands, that were once economically neglected by the former administration.
It is also important to highlight that the island of Eleuthera that once had blooming tourism and real economic growth suffered tremendously under the former administration with no real economic recovery in sight. The glory days are about to return to Eleuthera.
The PLP has also taken the necessary and important steps to ensure the creation of a strong small business sector. The Venture Capital Fund, which was announced during the Budget Debate of 2004/2005, is soon to be a reality and the government has already placed the starting $1 million in the Fund. This Fund will allow for small business owners and entrepreneurs to have access to the badly needed capital so that they can be able to blossom into successful businessmen. This will thereby further lead to the stimulation of the economy by the creation of more employment.
The eyesore of Cable Beach is now a past reality. Under the former administration, no thought was given to the fact that Cable Beach was badly lagging behind Atlantis and Paradise Island as a major attraction. With the announced Baha Mar Development and the successful and skilful negotiation by the Prime Minister the Bahamian people can now boast of the rebirth of Cable Beach with state of the art attractions and a world class resort second to none in the world. The Cable Beach deal also is the single largest ever investment in the Region with a whopping $1.2 billion price tag for the first phase. And, it is a fact that the concessions given to the developer will be lower than that extended to Atlantis in Phases I and II, which saw lower values of investment in comparison to Cable Beach. The Baha Mar developers were held to a low 20 per cent of concessions on their investment in Cable Beach. This is simply gifted and trusted negotiation.
Given the strength of the Bahamian economy in just 36 months in office, there is reason to be optimistic for the future of the Bahamas.
There has been no other government who have been able to transform the economy of these islands in just 36 months in office. In fact, the previous administration was given almost ten years to restore and create new economic opportunities and they failed to do so because they lacked the vision and the know how.
One must also look at the new air carriers that have been attracted to these islands bringing with them more tourists to fill the hotel rooms. The cry is now that there are not enough rooms to fill the guests who wish to vacation in The Bahamas. Last year, five million tourists visited The Bahamas and the number continue to climb.
There are many reasons for Bahamians to be proud of this government and its achievements in just 36 months in office. The truth of the matter is that the facts do not lie. They cannot be changed depending on who is speaking. We in the PLP are proud of our record and we are confident that the overwhelming majority of Bahamians are with us on our record and will continue to support this PLP in government.
Next week we will continue this series of articles focusing on the accomplishments of the PLP.
(This article was written by the PLP, who invites comments and suggestions. Please visit them at www.myplp.com).
From: The Nassau Guardian
