Statement by the Chairman of the Progressive Liberal Party The Progressive Liberal Party thanks and congratulates the Leader, Hon. Philip Brave Davis and Deputy Leader, I. Chester Cooper for their proposal to reduce Value Added Tax from the current 12% to 10% in the next PLP Government. This tax reduction should be a good way of easing some of the financial burden on taxpayers and stimulate consumer demand that was wrecked by the Free National Movement. This proposal was made at the unveiling of the PLP’s economic recovery and development plan earlier today via social media. This is huge news for thousands of Bahamians and business owners. The FNM raised VAT by 60% to 12% contrary to their promises to the Bahamian people. This tax hike resulted in a decline in consumption and businesses experienced measurable decline in their sales revenue as a result.