The President Of The Barbados Economic Society Ryan Straughn says Barbados does not have a revenue problem but an expenditure one and therefore the government needs to cut expenditure more.
Now we have all acknowledged that the only place left to cut expenditure to get the hundreds of millions is to SEND HOME PUBLIC SECTOR workers.
The wage bill is where the big money is.
Why doesn’t Ryan Straughn talk english that every one understands – instead of “cutting expenditure” , say “send home workers”. I think all Bajans would get a better sense of what he is saying and we could then guage whether people agree with his method or the government.

The obvious strategy is Mascoll’s argument is political opportunism not economic solutions. His economics is guided by his politics and that is cllear for all to see.His strategy is heavy criticism of Sinckler while offering no solutions. Realise how short he is always is on specific solutions, that is classic modus operandi of this FRAUD.

Nuff criticism and no solutions.He in one breath says that historically the growth in the economy comes from non-tradeable sectors but in the other breath says “It is ,”HOWEVER”,accepted that the most secure growth is when local spending is supported by growth in the tradeable sectors”.

However,Most Bajans can reason that if your tourists are not spending and you have a prolonged recession in your trading partners, spending in the non tradeable sectors cannot be sustained.
This is a recession with a difference. Even in the USA, all the analysts show that job growth and recovery has been very sluggish as opposed to previous recessions. A counter cyclical programme with a boost in domestic spending in a prolonged international recessionary environment is NOT SUSTAINABLE unless this is offset by deep reduction in government spending (sending home workers).
That is why Mascoll is a fraud. His economics is guided first by politics.
The head of the economic society says cut more expenditure by sending home workers – Mascoll is a politician first and he cannot admit that as a party spokesman so he criticises and offers no specific solutuons. A real Fraud.

@David

Please note the thread below. Hope Onions et al aslo pay special attention to it.

Surely Mascoll and Aurthur should recognize that people take money from their saving to buy government instruments which give a better rate on investmentand in some instances not taxable, whereas there is a 12.5 per cent withholding tax on on interest on your savings, if you are not exempted.. Quite recently, a family member reduced her savings to purchase government bonds. If the Central Bank invites the Public, incluidng ordinary citizens to invest in government instruments they would naturally turn to their savings to undertake such activity, unless they have the money under their bed, LOL. Consequently, there must be a reduction in savings in the bank , if there is a correspondnece rise of individualsand companies investing in govt instruments. Who is this dumbo ONIONS.

http://news.yahoo.com/outlook-darkens-europe-sinks-china-struggles-102504018–finance.html

@Onions

get your facts straight, i offer no comments on the market, but then again, why am i not surprised at your stupidity and garbled response, but then again, if you have sediments of garbage in your brain, i do not expect nothing out but grabage, in computer terminology, we say garbage in, garbage out.

Does any one exoect the god,s honest TRUTH from the team of mascoll and OSA after all the BLP handling of the economy for the past 14years is mostly in part for the downward spiral the country is experiencing and now having a gullible public believing all was well when they left office when in fact the DLP govt inherted astronomical debt which the poor has to repay. Bajans must not be FOOLED by a PASt administration whose legacy was borne out of PERCEPTIONS and SOLID WASTE

I am really appalled at the level some are willing to stoop to… BEGGING FOR ANOTHER TERM…..using all at their disposal to influence….Tell me WHAT ARE YOU ALL GOING NOW…(yes now, 6 mnths still avail.) to show us suffering souls….that YOU CAN DO FOR US DURING THE NXT 5 YEARS..?? WHAT.? WHAT ?WHAT?WHAT WHAT ?..Or will it be more videos of the plight of others….and a saying of “see you all not suffering alone”….PLEASSSSSSSSSSSE…not good enuff, can’t pay supermarket bills, won’t keep the light on….we want results… MONEY …we want to come out…not talk of how to make blackbird soup and keeping sheep n goats to build fortitude ..while you all in Parliament drawing BIG salaries laughing at our asses….Besides, we just want you all out….last 4yrs Clico Ax,blunders united,deserve a 0…a leader wanted and the eager 11 has shown none there either.

Don’t attack the Onion….ANSWER THE QUESTION……WHAT WHAT WHAT WHAT ? We want answers not a critique of Prodigal ,Scout, Enuff and Onions…we are waiting…WHAT ARE YOU ALL PLANNING TO DO ?..forget the messengers…

To the point
I too would like to see integrity legislation act passed before this term ends, but it is most unlikely. Even if something is passed, it wouldn’t be to the advantage of either party or members of parliament, plus it would take a pretty long debate to reach a just conclusion, and there is little time left. True the P.m promised to have it done before he dissolves parliament but to do this would be some wtered down version of a true integrity act.

I would rather have a watered down version of integrity legislation, than none at all

@Miller

If the DLP inherited hidden debt, that did no show the true picture, wouldnt the dlp have to borrow to pay off those ardurous amounts at they become due such as those from the extension to the highways, the prison, the courts and the bdf ,and if there is falling reveune, wouldnt the govt have to borrow thus increasingthe debt. What has happened to the USA.s deb, that of Spain, Portugal, and Greece, among others. You are getting on like an ostrich by burrying your head in the sand and is not facing reality,

Owen”seethru”Arthur a man who entered politics through a flood(water) in St. Peter and engineered into parliament by Aaron Trust who he then kicked out of politics in favor of Ishmeal Roett.

@onions

i respond to things that make sense?R u the artful illogical person? Just only asking.

Carson
Like you have developed a serious bout of video-diarrhea….man where ya going wid this ?Just so…? Really what is the perspective ?

Man you have to do better than this….this is not The Globe cinema

@ Old Onions
I pay CCC et al little attention. They do not like FACTS, innuendo, gossip and lies are their modus operandi. How many times one must state that a quick glance at the Central Bank documents shows that all of the capital projects started under the BLP and unfinished by Jan 2008 were on the books before the Dems came to power. Moreover, wasn’t the economy revalued, yet the debt higher? The gov’t is borrowing monthly to pay for recurring expenses i.e salaries NOT CAPEX!!!

To the point i never read them i see then as distraction But notice how they all would disappear when they see the videos it is as if a foul stench premeates the air that make the yardfowls run for cover.i dont know how anybody in their right mind can sing the praises of OSA must less be in his presence

AC

you does make me laugh sometimes, but where you get them termits from that want to eat you out of a home. Make sure you get the property treated so call inthe termite people yah hear

@To the point | June 21, 2012 at 10:43 AM |
“I would rather have a watered down version of integrity legislation, than none at all”

This level of aspiration is indicative of the mediocrity and downright incompetence that characterize this DLP regime. Almost 5 years now since a promise to the electorate has been made to bring FOI & Integrity Legislation to improve the democratic landscape of Barbados- a country which boasts of having more lawyers and doctors per square mile than Amsterdam has whorehouses and spiff joints.

It is downright disgusting and woefully politically dishonest that it has taken so long to draft and pass legislation that can be easily copied from some other more progressive Commonwealth jurisdiction with minor amendments to reflect local idiosyncrasies.
We don’t want any half-baked toothless piece of legislation to suit party political expediency of some nincompoop, indecisive leader who does not know his political elbow from his economic arse.

If we have waited so long even to have the promise legislation even brought up for discussion by the DLP administration we are certain we can wait another year for a proper piece of legislation to stem the corruption and administrative incompetence that is holding back this country from a better path to development.

@PDC

It is why the traditional media can get away with zero focus on financial reporting. We are an educated people but always we are intimidated by the financial stuff. And this is basic.

David,

Just yesterday evening we and one of our party leader’s friends were in Independence Square seeking information pertaining to the amount in local value in Barbados dollars of food that is imported into the country in a reported yearly basis. Would you believe it that in a June Barbados Today issue, the amount of the latest value was put at BDS $600 million, and that the National online story sometime in May arrived at the latest value of BDS $ 700 million for the same amount in food imported into Barbados recenlty?

Would you believe that we did an online search of CBB statistics soon after coming upon such those very starkly dissimilar figures and came up with a current figure of 570 something million?

We wonder sometimes what much research and collating some in the local news media really do.

Anyhow, the BBC reports that Moody’s has downgraded 15 major international. One of those Banks is the Royal Bank of Canada which would have recently bought out RBTT in Barbados and elsewhere in the region.

The PDC wonders what are some of the implications of this for the operations of this Bank in Barbados.

PDC

@PDC

Can you check the stats and tell us the trend of Barbadians owning government securities?

Here is a man OSA who NEVER! EVER! did absolutely nothing in 14 yrs to secure the safety and stability of this country and people From viotile economic schock and now have the nerveto talk about fiscal policy ! SCHOCKING very SCHOCKING INDEED!

@enuff

BU did a point to pointt comparison unlike Arthur.

Who would have invested those balances in the report attached?

Any sensible public servant who wants to keep his / her job should realise that a vote for the BLP could mean that you could be sent home.

The Evidence.
The BLP spokesman on the economy has consistently referred to the government’s policy not to send home public servants as fiscal madness if we refer to his article from June 2012.

Secondly, in the Barbados Association of journalists sponsored discussion at the Grand Salle, the BLP representative suggested that we need to look at a reduction in transfers and subsidies (75% of transfers and subsidies is wages and salaries).

Thirdly, the BLP and its spokespersons refuse to be very specific when referring to where these big expenditure cuts in the budget can be found. Obviously, they know if they provide the specifics, many workers would reject their medicine.

Fourthly, in a 2010 Article Mr. Mascoll gave this insight into his and the BLP’s thinking and I quote “So how do you reduce taxes without increasing the deficit? This is done by cutting current expenditure, equivalent to the taxes raised.
The two areas of current expenditure which have grown fastest are wages and salaries, and transfers and subsidies. ”

These are the words of the BLP spokesman – his words, not mine – any sensible government worker can see that the BLP thinks that we need to send home some public servants.