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Government reaffirms commitment to mortgage relief

In the recent Budget Communication, Prime Minister Perry Christie said that his government would continue to undertake certain welfare, pension and health care provisions. 

Tuesday, June 5, 2012
Tuesday, June 5, 2012

The government has reaffirmed its commitment to a mortgage relief programme that will help save the homes of persons who are no longer able to service their loan obligations, because of underemployed, involuntary loss of jobs, or because of chronic illness.

Prime Minister Perry Christie during the presentation of the 2012/2013 Budget Communication in Parliament last week said preliminary discussions with representatives of the clearing banks and other institutional lenders have already been initiated.

He said the discussions would continue with a view to arriving at a mortgage relief programme in the shortest possible time.

He also noted that the first draft of a bill to administer and regulate Pension Funds is now complete and will be presented to Parliament shortly.

Prime Minister Christie also said that the government’s commitment to National Health Insurance remains solid and the government will pursue preparations for the financially sustainable implementation of such a plan.

He said the government is also allocating funds to the Public Hospitals Authority to facilitate the acquisition of new cancer screening technology to ensure all Bahamian women have access to state-of-the-art mammogram machines at both the Princess Margaret Hospital and Rand Memorial Hospital.

The proposed renationalization of BTC and Royal Bank of Canada's Blue Water Day sustainable water project top the news in this week's Business Beat report from national broadcaster ZNS. Watch the full report here.

As well as a dedicated ministry, Prime Minister Perry Christie also said that Grand Bahama would receive special tax considerations to help boost tourism. Christie made the comments during his first Budget Communication to Parliament last week.

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