Rick Lowe
Here's a link to the Budget Communication
Well was I wrong with my comments earlier today?
I know that the political class has a difficult job balancing all the wants from Government, but instead of telling us there's never something for nothing, they continue with the pretty words and ever escalating debt and deficits.
Why Bahamas. Why?
Rick what are your thoughts on the duty rate being lowered for electric cars? Are they feasible for us in the Bahamas?
The Prime Minister mentioned that the Dept. of Statistics is using new and expanded data sets such as the Tourist Expenditure Survey and Household Expenditure Survey to calculate GDP. I went to their website and after a brief search I was unable to locate these surveys. It is important to understand how the government is calculating the new GDP numbers to ensure that the numbers make sense. Unfortunately Rick, with the debt to GDP ratio lower than previously stated, the government won’t address to deficit issue.
The $25m allocated to the Job Training program attempts to fix a much greater problem. Though there should be a program for individuals that have already graduated from high school, what initiative is the government taking to ensure that the 6,000 + students that will graduate next year are job ready? Are we going to spend more money next year to make them Job ready? This is what the educational system should be doing. I didn’t hear anything about that in the communication.
However, I do like the IT initiative that the government mentioned. This will allow further development in this sector and potentially allow Family Island schools greater access to resources for distance learning. Hopefully this will allow the government to decrease it payroll due to the technological efficiencies it will generate.
It’s not a bad idea Jerome.
I wish it had been sooner when we had the possibility of an electric car, but it might open that option up again.
Electric cars are more expensive so it might help make them competitive.
It will be like the US.Spent millions on electric cars to save $100,000. ! Sorry, don’t believe anything they say.
In this case it’s not a direct subsidy like in the US Dennis.
This is merely charging less import tax so the government is not paying out taxpayer dollars.
They always seem to find a way to get more.They will just get it from another area, in another form of tax.
The problem I see with straight electric cars, is the fact that they need a 240 volt 40 amp electric service to charge up.
At 38 cents per kw, and slightly less perhaps in Nassau, it is not cost effective.
Consider that an electric hot water heater requires a 240v 40A service.
While water can heated in 30 min, the car is going to take much longer to charge with anything other than minimal driving.
Fla, 11 cents/kw, New york 13 cents.
(above #’s may need updating, but not by much)
Good points Chris.
The electric car we are looking at though is not a Hybrid. It runs off heavy duty automotive batteries and plugs in using a regular 110v plug.
It’s fun looking at the alternatives without government forcing you to wasting tax dollars to do so.
Business people take risks in the hope of financial reward. If we lose it’s not taxpayer money.
I was looking at the Nissan Leaf, a straight electric.
The new LIPO batteries are very light weight, high current delivery, vs. lead acid deep cycle or AGM.
Still evolving. I’d love a solar panel charging array for an electric, but the number of panels required would be huge to accommodate daily driving.
Chris that is what I meant by is it feasible. BEC rates are most likely to increase. What you save on gas will go to cover an increase in your BEC bill. And you have the additional demand on BEC. I am no expert, but they don’t seem feasible for the Bahamas.
What ever happened to the principles of financial prudence?? When we don’t have the money to fund a budget, we only have a projection of larger government deficits and eventual self-destruction.. A broke country, whether the United States or the Bahamas, can only lead to economic and social bankruptcy.. Deficit spending has never been a policy of financial prudence.. Time is running our for America and it appears our Bahamas is right behind America on the path to economic collapse..
Logical points all gentlemen.
Is the demand more than the effects of the emissions by not using the electric car? I’m not sure.
There are people though, albeit a limited number, that want to “go green”, so there is a market there.
Rick, could someone in the know who has an ear to the powers that be explain to them that there is no such thing as “biodegradable Styrofoam” as outlined in the budget. The products are either paper or items that are made from sugar cane or corn starch.
Styrofoam will degrade over years but at the same time will leach benzene and styrene into the atmosphere or the ground.
It is neat to have a duty reduction for the environment but on a product that can never be claimed is ridiculous.