Submitted by Old Onion Bags
Minister of Finance Chris Sinckler
The taxation assault that was unleashed on Barbados, has brought about what is occasioned today …a total slow down of the economy and negative or no growth pattern during the five year implemented. It was a mistake to increase VAT from 15% to 17.50% in order to bring additional revenue in a time of recession as was warned by Mascoll, Justin Robinson of UWI and Owen Arthur of the opposition. If I remember right, the analogy was to be likened to “an air plane taking off with four open parachutes”… It was suggested that this would stifle any growth, the struggling economy was stimulating on its own at that time.
Regardless of the warnings of these recognized economists, the tax increase was implemented with the predicted results…a barren economy..stagflation occasioned with increased inflation and a decline in”real” revenues.
Has anybody even as much as flinch to remove or introduce any other corrective fiscal measures to rescue this economy from entering total morass.? No… to-date instead, we hear of more monies to be taken from our NIS fund. More money to fuel us down a Four Seasons path with no foreseeable end in sight. Furthermore, we now hear of the blame game, with finger pointing and no cohesion in the ranks…while the country continues its downward spiral path.
“Look to the light at the end of the tunnel.”…What light..? For all we see is a Emera..and a ever increasing fuel adjustment clause, rubbing salt in our wounds adding further insult to injury, for yet another bad investment decision by this administration.. the selling of the BL&P shares.
Bush Tea
Have you ever read anything on economic at all ? You speak of things you don’t understand and that is unfortunate. How will you measure this productivity in the civil service? Or better still by what method will the rewards be distributed? Bush Tea you told me earlier that you were once a fisherman..am i correct? Do you always find fish when you raise a pot? Why? ok apply this to what you just spoke of….get the point?
Great i know you would understand….and ac and I are quickly divorcing.
Barbados does not have the luxury of cutting taxes at this time nor does it have the luxury of rising unemployment. for one the demand for social services and other benefits would increase putting an undue burden on government and for two its increase in revenue would fall. right now Barbados is caught between a “rock and a hard place. Dam if I do damned if i don;t. Everything that is being proposed here still is going to need government assistance, People going into business for themselves will find it hard to get money for banks and it turn looks to government for financial help in getting loans . when there is no money in the till there is nothing to give out .
@old onion bags- my point is that given the structure of our economy and its heavy dependence on tourism, when tourism spending is down, it will send serious shocks through the economy. We are not Guyana that is benefitting from high prices for gold, rice and other commodities.
Now , I take your point that we must always seek to have a facillitating environment for business but my point is growth must be in the foreign exchange earning sectors or we cannot sustain it without eroding our foreign reserves.
The issue is that we in Barbados want large social services and little taxes. If we want subsidies to offset high energy costs, tax incentives, reduced corporation and personal tax rates,more allowances and deductions, then we also cannot have a large public sector and free everything! If we do not want the high taxes we must be willing to say to the politicians that we cannot afford the FREE uwi, Free QEH or a very large government service but No! Let the government try to put a charge on any service it is bare hollering and everybody in the constituency want a government job for their son or daughter.
I beleive that no government BLP or DLP has ever faced an external environment like this and there would have been some serious adjustments needed in this environment regardless of which party was in power. On the talk of ” skillfull hands” are you saying that internationally respected economists like Dr. Delisle Worrell and Professor Frank Alleyne and the other economists in the Ministry of Finance, etc do not have a clue but only Owen Arthur and those in the Barbados Lbour Party have a “magic wand ” and know something that the rest of the world does not?
That is politics! There is talent in both political parties- they all went to the same schools, live in the same neighbourhods, had the same teachers ,depend on the same public service and even have the same friends.The tourists are not sitting around on Mars or Venus waiting for the BLP.
We must get away from the politics and take an objective view of the situation.
@ ac
What put what words in what mouth what?!?
Bushie was just trying a little match making.
You and “old onion bags” seem like a match made in H___. (figure that one out – ends in ‘L’)
Wunna would have a ball – missreading facts, drawing the wrong conclusions and generally getting it all wrong…. BUT WUNNA WOULD BE HAPPY…
But Bushie would still miss ya ac. ( not the Old Bag though…)
people talk about barbados economy like it is the USA not even comparable.,Resource wise or otherwise, This little island has managed to survive against all odds. Now that the world economy has struck us in the rear end everybody trying to find a quick fix. whatever opportunities Barbados had was missed fourteen years ago and trying to catchup now maybe a little too late.
There you go getting it all wrong again onion bag
What fisherman what??!
Bushie was never a fisherman. You mixing up the bushman with one of the disciples or what?
Also, your analogy of lowering the fish pot and hoping for a catch is not a good onto illustrate modern day productivity….
Nowadays we would create a fish farm with planned and predictable fish yields and known profitability.
Try something simple onions and let us work on getting SOMETHING right…. Lol
@ Bush E
The true confession of a MAD BuSH MAN.
You are soooo crazy. What could be simpler? Fish Farm means you know fish are there…in an open economy there is no certainty….cheez whiz Bushie…Do I have to further break it down for You ? No I know you joking ..right ?
Dear Sharon
Very good analogy and quite impressive.I find no fault in your reasoning however,you have shown , (like the majority) you have given up hope in the DLP to provide a solution. Could you explain back in the time of EWB when Guyana with all its wealth was suffering ..we were prospering ? Sir Frank Alleyne( who taught me economics some 20yrs ago) knows his stuff but his thoughts are Keynesian and static.Dr, Worrell has been in the fridge (asst deputy) for how long? What I am saying is they are remarkably qualified but not SPARKERS….one who can take 2 + 3 and make 6. The late EWB was a starlet sparker.
Between 1994 – 2008 we were privileged to having another( synergy-ist )at the helm.
Unlike you I have faith when we….RESCUE RESTORE REBUILD.
@ Old Onions
” in an open economy there is no certainty…”
That is correct….. For fools who operate by luck, and by hit and miss methods.
For Bushmen who understand the rules there is absolute certainty… As you say, Bushie KNOWS that the fish are there…
…wait, …you thought that Bushie was a poor boy? LOL…
Sharon Brathwaite
Thank you for your frank observations on what is happening to the Barbados Economy. Old onions and all the other BLP operatives who miss the government contracts badly have placed all of their reasoning powers somewhere near their coccyx.
If you speak from an independent point of view you will mostly give an honest opinion of what is happening in the world and then relate to how it is affecting Barbados. Not the BLP people who want back the government so bad that they have begun speaking about all of the frustrated Bajans they are meeting on the streets who say they are voting out the government.
As Owen told them they all want to go to heaven but do not want to die. They want all freeness but do not want to pay taxes. The frustrated middle class was well depicted on the back page of Barbados Today where two primary school boys have Blackberries texting one another one foot away. I see hundreds of middle class children doing common entrance lessons at very high prices every Saturday. Where is the hardship?
The government deserves voting out not because of the economy but from the bare fact that they should have pass in parliament FOI and Integrity legislation by now and many of the BLP politicians would not want to run with that kind of legislation in place.
Through some level of selfishness or wanting to get rich quick too they seem not to want to pass that legislation.
Another observation that I keep making is why Owen and Mascoll are considered to be so bright and good to take Barbados out of this mess not good enough to see the train wreck coming and led us into a debt trap.
@Clone: “The government deserves voting out not because of the economy but from the bare fact that they should have pass in parliament FOI and Integrity legislation by now and many of the BLP politicians would not want to run with that kind of legislation in place.
Please correct me if I’m wrong, but did not the “Late and Great” David Thompson promise both a FOIA and a ILA within 100 days if he was elected?
Did that happen?
No.
Thus, is it not reasonable to expect that we will be lied to in the future?
Old Windbag a.k.a Old Onion Bags
I do not care how you dodge the question : I repeat, as a declared BLP operative on this BU site tell us why Owen Arthur is refusing to call the PAC together to deal with the Bridgetown Marina Project as he promised months ago ?
Has his failure to do so have anything to do with the fact that Chris Sinckler told him to walk with the file on the Marina project ?
While you are on you mission to ” Rescue , Restore & Rebuild “, Tell the electorate when are you going to RESTORE the Barbadian taxpayers funds / confidence on :
* Al Barrack case
* Greenland $ 80 million dump
* The padded VOTER’S list in St.James North ( how can you be trusted to oversee a National pole.
Waiting for your answers .
Fractured BLP | February 7, 2012 at 4:58 PM |
In case you haven’t notice the theme” Looking Ahead for the Better” was offered to look for ideas from people on this blog not launch personal attacks.We had a lot of that in previous blogs don’t you think. Come on let’s be constructive and not destructive.
I have previously addressed your question, and it still holds.
We are serious about solutions not pointing and the blaming game.We will not follow nor will we take “overly” time in presenting answers. Watch and see !
RESCUE RESTORE REBUILD.
@ Clone saying>> they have begun speaking about all of the frustrated Bajans they are meeting on the streets who say they are voting out the government.
Dear Clone
The Govt wants voting out because they have RUN OUT OF IDEAS…Simple.!!!
Could you imagine giving them another 5yrs….to do what ?.. they still have 16 months max…to show us WHAT THEY CAN DO…but what they show us NOTHING….come now man,.I guess …”we are taking our time”… again.
@Clone
Hey Clone here is an new idea you can put FWD to the Bankrupt Idea Bank
(BIB)
Take the money..the $60Million and more… that is planned to throw down Jacob’s Horse Nostrills>>>>(Four Seasons) and put into Agriculture. This would surely provide over 7,000 jobs(over 5 years span)in addition it is Medium Term strategy and sure ROI….Not to mention the other indirect employment..distribution\exporting. Agriculture includes fish farming…open sea.Mahai Mahai ( bds dolphin) pens, indoor Talaphea…..good export thrust.
Old onions
Your problems have now begun.
Owen Arthur seems to be on a political purging campaign forgetting that he will remain the Opposition Leader. He has now met with the St. Thomas branch in the absence of Mrs. Forde.
Something tells me he is lying when he is saying in the Barbados Today that he was only doing a meet and greet.
I think he put the proposal to them on what he wants. Everybody knows he wants his man Clyde with him in opposition next time, to fight with the economics because he is not able.
Clyde says he wants a constituency that fit his profile. St. Thomas may look so but I think Owen Arthur will lose another one like Skeete.
@Clone
I see you like BBQ-ing pig tails that all but leaves a very souring taste in your mouth.Like your big St.James North Mia\Arthur showdown. Oh it was to be the mother of all battles,guaranteed to split the party <<>>.How you and those like you anticipated…grasping at straws to somehow divert attention of the persistent incompetence of the DLP and its lethargic leader Mr.EasyBoy and what you got >>>a no show.
Now you come calling on Ole Onions again this morning, with some soft allegation to distress poor Cynthia.(who is here laughing) and those who don’t know better(like the media).Oh Clone how apt your name. You are proving to us on this blog, nothing but a horn blower or better still a substitute fill-in clown, who is there just in case of emergencies, to poke and sundry,and divert from any real events\issues>> like the upcoming Big Tent Event on Sunday 12th @ Queens College, when the master & Co. shall fire warning shots across the all but sunken bow of “SS Incompetence”. A warning to all those scattering MICE, presently on board, ( but Eagerly jumping) to standby to vacate, as we prepare to answer the distress call of the Barbadian populace….
RESCUE, REBUILD,RESTORE
@Fractured BLP | February 7, 2012 at 4:58 PM
“Tell the electorate when are you going to RESTORE the Barbadian taxpayers funds / confidence on : * Al Barrack case”
So when are you going to tell the present administration to pay the man?
The longer the delay the more interest on top of interest (compound) accumulates. The man has been promised payment this is over 2 years. Don’t you think this is a blatant violation of the man’s human rights?
This problem might have started under the previous administration but this is no excuse for the 4 year compounded (no pun intended) delay.
Maybe the guys have something on the parties involved and want to use it as election ammunition. Otherwise pay the man and obey the Court orders. Has payment for the marina redesign project been delayed too? But I blame OSA for that one (all talk and no PAC action!).
What about the many promises to the CLICO/BAICO policyholders?
“Those who live in glass houses should not throw stones”.
Onions sounding off a horn blower Clown( a mean Clone)
Come in the Court ..come in the Court….you jester!
“We need to face facts – we must earn our way in the world- Barbados needs to earn foreign exchange to support our spending patterns .Most of what we buy is imported and in an environment when tourists are not spending and the foreign exchange inflows are not coming in, you must temper demand and consumption. Just cutting taxes and allowing people to spend on imported items is not sustainable if the foreign exchange inflows are not coming in and there is no definite date for economic revival in your tourism source markets, such consumption spending can lead you straight to the hands of the IMF. ”
Given this knowledge therefore answers this. Why are you people so anti-CSME? A CARICOM market would give Barbarian manufactures and producers a chance to sell more of their goods and services given that 45 percent of our exports go to caricom, further expanding this would allow us build momentum towards other markets outside Caricom. This is so since barbados cannot compete in other markets given our size. The xenophobia exhibited by the like of Bushman et al only serves to strain our relationship with CARICOM.
I think with proper negotiation and relations we can make CSME work or we can lay down and die.
@wargeneral
I think with proper negotiation and relations we can make CSME work or we can lay down and die.
Easier said than done …….we have been trying now for + 50 years for West Indian unity beginning with the Treaty of Charagramas in the T&T Dr.Eric Williams.