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
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