PRESS STATEMENT
J. Kwasi Thompson, M.P. : FNM Demands Answers on $9.6M Social Assistance Cut
The Free National Movement is deeply concerned by the Davis Administration’s decision to cut $9.6 million from social assistance spending over the first eight months of this fiscal year, even as Bahamians continue to struggle under the weight of rising costs.
According to the Government’s own February 2025 budget report, published six weeks late, and in violation of the law, social assistance spending dropped from $161.8 million to $152.2 million compared to the same period last year. And yet, at the same time, there are reports of increased spending on travel and public relations.
This government continues to find money for non-essential travel, press events, and inflated contracts but chooses to cut critical support for the most vulnerable among us. Their actions speak volumes about their priorities, and they are not with the people.
Even with a seasonal surplus in February, the government still recorded a $332 million deficit so far, this fiscal year. We’ve seen this before: they promise to meet their deficit targets, only to overshoot them by tens of millions of dollars. Now we learn that they’ve turned once again to the Central Bank for nearly $200 million in borrowing. This overreliance raises serious questions about market confidence and whether the government is struggling to secure financing from private lenders.
This is what fiscal mismanagement looks like. The government borrows more, spends recklessly and delivers less where it’s needed most.
The Free National Movement takes a different approach. Under our leadership, we will:
● Practice responsible budgeting with discipline and transparency.
● Prioritize funding for critical services and social protection, especially during times of economic pressure.
● Ensure timely reporting and public accountability.
● Reduce wasteful spending and restore trust in government finance.
The FNM remains committed to building a Bahamas where economic decisions reflect the needs of all Bahamians, not just the privileged few.