The Hon. Allyson Maynard-Gibson, Minister of Financial Services and Investments was roundly applauded at the Bahamas Real Estate Association (BREA) Luncheon held Thursday, Aug. 22, at the Nassau Yacht Club.
The Minister noted there has been a dramatic increase in property transactions and the resultant stamp tax collected by Government to July, 2002, compared with July, 2001. The figures given were: $103.5-Million in sales, up from $86.7-Million, with stamp tax collected up 80 per cent from $2.7-million to $4.9-million.
She said she believed the streamlining of her ministry will have impacted sales, adding, "We see our role as to facilitate investors….We know money doesnﾹt sit around."
She promised quick decisions, "30 days on completed plans," and said, "There is no back log on completed plans at my ministry, only on incomplete submissions."
The Minister also invited BREA executives to continue to submit recommendations and seek dialogue with her Ministry saying, "BREA is the backbone of land sales in The Bahamas." She concluded, "It is our government's aim to benefit overall development for the Bahamas. This is not a PLP programme, not an FNM programme–but a National programme working in the best interests of all Bahamians."
