Submitted by Looking Glass
Some comments suggest we know and understand little about the country and less about how the world spins. Some party faithfuls without knowledge or facts preach falsehood in tattered narrowness. A few seem to have difficulty with the written word. Prodigal Son asks if theSt Joseph hospital was sold how could government “be able to lease it out.” Yes I said the BLP sold the port, airport, the National Bank and the hospital in the north. Is the northern hospital located inSt Joseph? Austin (not Hal) asks if I “honestly consider what the Bajan public is getting from the current PM is leadership.” The article dealt exclusively with the BLP not the DLP. To answer your question try reading my other submissions.
According to Enuff the submission is “symptomatic of a government that fails to accept that public policy and behaviour inspires the private sector to invest….” Does he mean the current opposition? The submission dealt only with the BLP. To find out who bought the Port and Airport ask those who know but choose to be conveniently unaware.
I am not suggesting the private sector is to blame. That sector (White) built and developed the country. For example four arrived as indentures (another name for slaves), worked on the plantations some of which they later owned, invested their savings in business and built Bridgetown, all by utilizing the only natural resource, the land. (Little England 2). Politically it provided education for blacks (CodringtonCollege) and other social facilities at a time when the Uncle Sam considered the Nigger to be 5/8 of a human. And they supported the abolition of slavery. Recall the Conservative Party? You voted them out of power. Why is another story. Today the private sector provides the bulk of taxation used to support social services, government employment and remains by far the largest employer.
Some blacks also saved their money and went into small business. One even had a chain of over 10 stores. Today an increasing number of small businesses are owned by foreigners. Black business is almost a bad word. Sugar built the country. Today we are importing sugar, bananas and even eggs. We can’t get people to soil their hands working the land, not even to grow food products. Do that and they steal the products. Given your contention the government policy and behaviour failed to inspire the black population to invest
They are limitations to private sector investment. We have not the non-monetary tools like skills or natural resources. Foreign investors like Intel and Donnelly came and left primarily because there was no skilled manpower. Many years ago a white Bajan professor at a topUKinstitution did a manpower study. The recommendations which included educational reform are still in the ministry. All we have is people, land, sea and sun. Stop selling the land and grow food and exportable items like coffee and cocoa. It would reduce the import bill, living costs, generate employment and reduce health problems. By the way Enuff the BLP did not build the Hall of Justice. Nor did it ‘repair’ and renovate the West Wing of Parliament.
Artaxerxes tells us theUKhas a floating exchange rate and demand and supply for a currency determines the value of a currency. Exactly what does he mean? All currency exchange rates are fixed. Demand for Bajan dollars results in part from the need to pay for imported items and loans the cost of which are all in foreign currency. We do not make our own currency and so cannot increase the supply as needed. So government cannot “alter fiscal policy through the counterbalancing use of fiscal and monetary policy.” Nor is there an exchange rate to help control the rate of inflation as you suggested. The central bank may have the flexibility to lower interest rates on the money it lends but not on foreign generated loans. Explain how “cheaper prices of imported foodstuffs and beverages will also have a negative effect on the rate of consumer price inflation.” Yes the case has been made by some countries for the abolition of fixed exchange rates. Some have suggested that all currencies should be of the same value which means a single world currency. Your suggestions are unlikely even with a single world currency.
Along the way we demonstrate our ignorance to the world. Elsewhere Brudah Bim tells us the government failed to prioritize expenditure for the restructuring of key and necessary sectors to create industries and jobs. For Enuff a strong fiscal strategy includes, among things, the endurance of strong growth through increased efficiency, productivity, competitiveness and the endurance of domestic and external confidence. Can they name a democratic country whose government built and operate manufacturing facilities and stores to make products to sell to the people or to export? Will we ever understand that Government has no business in the private sector? Government and the private sector do not have an inherent right to facilitate your lavish conspicuous lifestyle. People are the economy not the government. You put them there so blame yourself.
According to Barbados First the PM is considering the airline offer for some form of support from government and requested its balance sheet. The BFP (May 6) tells us the PM would review the airline books prior to making a decision. This from a lawyer. Since when has government the right to review the books of a privately owned company? Are we a shareholder? Subsidy does not make us a shareholder. That he subsidised and accommodated an airline to compete with one in which we are the largest shareholder attests to his knowledge, wisdom and understanding. Not surprising some souls wonder if he ever won a case in court.
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