In The Bahamas, the economic gap between the wealthy and the poor remains significant. A large number of Bahamians in low-wage employment cannot afford basic needs and expenses in a country considered high-income. Therefore, it is essential to consider how the poor can be empowered through the development of genuine opportunities. To achieve these objectives, a conservative approach will be required, especially in relation to taxes, employment opportunities, and education. These areas directly impact “bread and butter” concerns, everyday struggles that many families face in their fight for a better life.
Easing the Burden on the Working Poor:
One issue that directly affects the poor in The Bahamas is taxation, which low-income earners feel more acutely. The current system is widely viewed as regressive and imposes a heavier financial burden on those who can barely make ends meet. A conservative policy approach suggests that lowering taxes can stimulate economic activity and ease hardship for working families.
Practical solutions include:
Reducing VAT on essential goods and services (like electricity and food staples)
Granting tax exemptions or credits for households earning below a set threshold
Supporting commonsense policies that push for a living wage to improve overall purchasing power
As Archer et al. (2021) emphasize, adopting a living wage could improve standards of living and reduce dependence on welfare or secondary jobs. Reducing taxes may be a critical factor in making this a reality.
Creating Real Opportunities for Bahamians:
High unemployment, particularly youth unemployment, is a major reason many Bahamians are financially insecure. In this regard, a conservative approach would require the implementation of policies that lead to the creation of employment opportunities through the growth of enterprises. The government should help businesses grow and remove barriers that prevent Bahamians from accessing meaningful work.
Actionable recommendations include:
Providing tax incentives for companies that hire and train local workers
Offering grants and low-interest loans to small and medium-sized enterprises (SMEs)
Encouraging investment in industries like tourism, construction, and technology
Funding infrastructure projects to generate thousands of skilled and semi-skilled jobs
As Wright (2018) points out, promoting key sectors such as tourism and construction will drive job creation. These areas are central to the Bahamian economy and should be leveraged more strategically.
Equipping the Poor for Progress Through Education:
Education is one of the most powerful tools for lifting people out of poverty. However, many Bahamians from low-income backgrounds cannot access the quality education they need to secure better-paying jobs. A conservative response calls for targeted improvements that offer more value and measurable results.
Increasing funding to improve the quality and resources of public schools
Expanding vocational and technical education for trades like plumbing, carpentry, and digital tech
Partnering with the private sector to provide apprenticeships and internships
Promoting equal access to education for all, regardless of background
As Archer et al. (2020) argue, offering equal educational opportunities is vital for building a competent workforce. When students are prepared for the real world, they are better positioned to support themselves and contribute to national growth.
Bread-and-Butter Issues and Tackling the Cost of Living
The high cost of living, especially in areas such as food, shelter, and health, has emerged as a significant challenge for low-income earners in The Bahamas. Most essential goods are imported, which drives prices up due to transportation and duty costs. To solve this, a conservative economic approach would focus on strengthening local production and offering targeted relief.
Commonsense strategies include:
Promoting local agriculture and manufacturing to reduce reliance on imports
Offering health subsidies and expanding access to affordable housing
Incentivizing local businesses to reduce costs and improve supply chains
According to Archer et al. (2021), a living wage can help workers cover basic needs without constant financial strain. In combination with smarter production and support policies, this can reduce the cost of living sustainably.
