NASSAU, BAHAMAS — Insufficient productivity is the primary problem plaguing businesses and the wider Bahamian economy, according to one local businessman who asserted that far too often, productive businesses are being “punished” with more taxes.
Ethric Bowe, AFS Insurance executive chairman, in an interview with Eyewitness News, said: “Government cannot solve all of our problems and our major problem in this country when it comes to business and the economy is productivity.
“Any country, any community, any person who is consistently productive and does not waste their income cannot remain poor. We have too many people in this country getting paid for nothing. Money is a means of exchange. Too many people are trying to get money without giving anything of value in exchange.”
Bowe, who played a key role in seeking compensation for businesses impacted by the New Providence Road Improvement Project a decade ago, added: “Right now, taxes are a punishment in many instances. They see you doing well and they punish you with taxes for being productive.