Government Wastage – Lookout Freundel, DEMS Days Numbered

Submitted by Porridgeboy

Prime Minister Fruendel Stuart

When quizzed on the Barbados economy supporters of the Democratic Labour Party reply by asking, what would the Barbados Labour Party do differently to the Democratic Labour Party  in the worse global recession ever.

The Dems supporters are ‘well programmed’  and they recite very well “the problems Barbados economy faces stems mainly from the Global melt down which took place in 2008” and there is nothing wrong with them trying to convince themselves, but is this teaching really true?

Here are the facts:-

Some how whenever the word deficit is mentioned to them they all run and bury there heads in the sand, refusing to accept that the problem that Barbados faces is the deficit which the current Government seems incapable of closing at any time soon. During the period 2008 – 2011 they have taxed everyone in the tax bracket and those out side by means of VAT and everything within their grasp to the point that the poor are deeper in poverty and the middle class are now becoming poor. Their social handouts are no longer cutting the deal.

In 2008 when the BLP relinquished power, 2.5 billion dollars was left in the treasury that if it was spent wisely, was enough money to take us through, if not out of, any turbulence that was foreseen on the horizon.
This government, led at the time by Mr. David Thompson, came to power in 2008 knowing very well what the global economic condition was, the signs were there since 2007. In his first budgetary address to this country the then Prime Minister said “The performance of the Barbados economy during the remainder of 2008 and into the first six months of 2009 is largely dependant on the performance of the global economy’’ On paragraph 1 page 18 of his Budgetary Proposals 2008 he continued, “Growth in the major source markets (the UK and the US) will largely  determine the outturn for tourism which is expected to be the main drive of activity” Paragraph 2 same page  they admitted that there were aware that a global meltdown was imminent since 2007. There were also warned over and over  not only by  Mr. Owen Arthur MP in his contribution to the same budget of that year, but by external agencies such as the IMF,  Moody, Standards & Poor, Economic Society of  UWI, former Governors of the Central Bank. This administration continues to be in opposition to any advice given and governs as though it’s still in opposition. Simply put they down right did as they like.

Mr. Owen Arthur MP in his contribution in the 2009 Budgetary Proposals to the Parliament of Barbados  urge the government to use some of the 2.5 billion that was left by the past regime as a buffer to absolve the shock of the melt down, Instead free bus fares were  given to school children (the Jury is still out on this one), Housing Estates such as Haynesville, Rosemont, The Farm, Bonnets all these  young estates, in they rights were given to tenants at no cost. The Pine and Gall Hill were understandable because of their age and would have paid  for themselves. Constituency Councils were set up at a cost of $60 million dollars and given $100,000 .00 dollars yearly, (do the math on that one) to do what? O yes,  every observant and right thinking Barbadian know what that is all about, National Summer Camps were taken out of the hands of the private sector and made free to all children between the ages 5 -15 with stipends of $ 500.00 dollars paid to volunteers every fortnight, it was the first time in history that people who give free of their services were paid, Fete at Six Roads Roundabout for the handing over of keys to home owners for the Six Roads Project built by the NHC, the propping up of the Clico Insurance Co & British American Insurance Co in the sum $10 millions dollars each , and the cash just kept rolling out as if they had a money tree to pluck it from. Is it any wonder that we are facing another downgrade?

Today four years later the tree is all but dried up, and this Government does not know what fertilizer to use to bring it back to life. They continue to play the blaming game and are now running around like chickens with their heads cut off hoping for some miracle to happen. No wonder some are now admitting they have failed to manage the economy.

Lookout Freundel, the DEMS days are numbered.