2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 90

bringing in luxury hybrid vehicles at the reduced duty level. Our policy rationale is that if you can afford a luxury vehicle, you can pay the standard vehicle excise duty rate. We are also making brand new small vehicles much more affordable with the duty rate on those vehicles being set at 25 percent. In addition to the fuel efficiency of smaller vehicles generally speaking – which can reach efficiency levels of some hybrids - these vehicles are much better suited to small islands or congested cities. Further, the lowered duties on these small cars, as well as on electric vehicles and hybrids will allow many ordinary Bahamians once again to be able to afford a brand new car. Mr. Speaker, in respect to protecting Bahamians from vulnerabilities, perhaps nothing can be so potentially devastating - personally, emotionally and financially – than having to face the prospect of a major injury or illness to 87