Former Minister of National Insurance, Shane Gibson is weighing in on the increase in contributions that is set to take effect in July.
Gibson spoke to reporters on Wednesday. He said, “I don’t think anytime is the right time for person’s to be paying more monies out of the little that they are getting right now but I can tell you we’ll pay a bigger price later if you don’t increase that contribution right now.”
The former minister added, “we have some people who can’t even go to the grocery store for a day, they have to go for a meal. Every time they’re hungry they have to go to the grocery store cause they don’t generate sufficient income to cause them to be able to go for a day or two days or a week. And so it is a very painful exercise but I can tell you at the end of the day if you don’t do it we’re gonna be in trouble. So I understand, I sympathize and I empathize with them. It would be my wish that no body pay any taxes, no body make any contributions but then where would the money come from.”
Gibson also opined on the concerns of members of the opposition about the increase. He said, “the Official Opposition feels as though it shouldn’t increase then tell them to tell the Bahamian public that if they win the next government they’ll reduce it and put it back to what it is now. If they really feel that way. Because you can’t play politics with this, this is one of those topics where you can’t play politics. Don’t forget now, they were the same ones who said you shouldn’t have VAT, you shouldn’t have VAT but the first thing they did when they went in office is they increase VAT. They tried to get more. And so if they are serious about this and they’re saying it shouldn’t happen they tell them give the Bahamian people a commitment that if they were to win the government, as soon as they win they’re gonna decrease it and put it back to what it is right now.”
Gibson served as Minister of Housing and National Insurance beginning in 2002.
