THE BUDGET PREDICTS SURPLUS NEXT YEAR
Prime Minister Philip Davis delivered his annual budget statement in two hours on Wednesday 28 May 2025. He was surrounded by a full house and most people were at rapt attention. The budget had a little something for everyone. Within the statement there was the promise of a balanced budget for the first time in an independent Bahamas and a surplus also for the first time in an independent Bahamas. The economy has expanded and the revenue and performed apace. We congratulate Prime Minister on his budget allocations. Vat has been slashed in half on a number of essential items to help with the cost of living. Here is the PLP’s statement issued on the matter:
For Immediate Release
28 May 2025
The Progressive Liberal Party welcomes and commends the Prime Minister and Minister of Finance for a transformative budget delivered today(28 May 2025) laced with far-reaching opportunities, geared to improve the quality of life for Bahamian families, and loaded with a significant number of historic firsts.
It is a budget with the deliberate and deep-rooted intent to expand opportunities for Bahamians residing on literally every island, rock, corner, or cay in our country.
The budget demonstrates the fiscal prudence and competence of the Davis administration – the first time since our nation’s independence, a balanced budget noting a surplus.
Our government, nation, and people enveloped in this budget are truly on the move to even better days ahead.
In-touch and compassionate leadership is a strong and moving trait in this year’s budget – among the many features, the elimination of, and / or tax deductions on personal hygiene items for women, prescription and over the counter drugs, climate change friendly household appliances, prefab homes, and other essentials effective 1st September of this year.
The Prime Minister and his government, by way of this steadfast and hope driven budget, reaffirm a mark of champions of the people.
The outline, as presented in Parliament today, makes way for meaningful nation-building details in the coming weeks during the budget debate.
We no doubt expect the opposition to continue on the tone of bleak and gloom, but what is good for our country is not good for Michael Pintard and his reckless team’s hunger for power.
The PLP applauds Prime Davis for a budget set to positively impact Bahamians throughout our beloved Bahamas.
END