Less than one year after the last general election and the sense in the BU household is that the country continues to be gripped in election mode. This is despite the Democratic Labour Party (DLP) having won the general election albeit by a narrow margin of two seats. The inability of the Stuart led government to bring Barbadians together and get on with improving the lot of the country has been a bane to many. To some the narrow result confirmed the disgust which the electorate has with the two main political parties.
Here is the flipside. BU is not convinced by the alternative proposals which were championed by the Barbados Labour Party (BLP) during the last general election campaign. There was the privatization argument which backfired, however, the thrust of the BLP’s offering is centred on maintaining a service economy read tourism and international business. Not to forget the promise of a more aggressive offshore oil exploration program. The BLP faithful appear not to accept that the world has changed post-2008. Barbados ‘leveraged’ a global economic boom where there was easy money to be borrowed from capital markets. A significant percentage of the billions left in foreign reserves by the BLP represented borrowings which will have to be repaid. The adage that one has to earn your way in the world means that a borrowing strategy was not sustainable.
The BU gang has been harping for years that the Barbados downward spiral can be tracked to a lack of leadership. In case the BLP hacks have forgotten, the economic indicators started to flag during Owen Arthur’s third term. There is evidence that Arthur and the BLP struggled with the economic conditions which had become harsher.