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The Slide of the Barbados Economy: Pictures Are Worth a Thousand Numbers

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BU family member Inkwell has submitted the following graphs/information originally presented by economist Ryan Straughn in the local media in an article titled – Who Will Put the Genie Back in the Bottle?

Public Finances of the Grantley Adams administration from 1955 to 1962. Note that in every year, current revenue exceeded current expenditure.
Public Finances of the Grantley Adams administration from 1955 to 1962. Note that in every year, current revenue exceeded current expenditure.

Public Finances of the Errol Barrow Administration. Note that there was a deficit on current account in only two of the fourteen years and for relatively small amounts.
Public Finances of the Errol Barrow Administration. Note that there was a deficit on current account in only two of the fourteen years and for relatively small amounts.
Public Finances of the Adams/St John administration. Note that current revenue exceeded current expenditure in each year except 1977/78 and then for a nominal amount
Public Finances of the Adams/St John administration. Note that current revenue exceeded current expenditure in each year except 1977/78 and then for a nominal amount
Public Finances of the Barrow/Sandiford administration. Note that current expenditure exceeded current revenue in two years only and for relatively small amounts
Public Finances of the Barrow/Sandiford administration. Note that current expenditure exceeded current revenue in two years only and for relatively small amounts
Public Finances of the Arthur adminintratioin. Note that current revenue exceeded current expenditure in each of its fourteen years.
Public Finances of the Arthur administration. Note that current revenue exceeded current expenditure in each of its fourteen years.
Then along comes the Thompson/Stuart administration and this is what happens
Then along comes the Thompson/Stuart administration and this is what happens

2008/2009. The government spends $256 million more than it receives in revenue.
2009/2010. The government spends $557 million more than it receives in revenue.
2010/2011. The government spends $647 million more than it receives in revenue.
2011/2012. The government spends $284 million more than it receives in revenue.
2012/2013. The government spends $260 million more than it receives in revenue.

That is a total deficit of $2.004 billion, excluding the appropriation of $100 million of NIS funds. The facts speak for themselves. What would you say about any housewife who kept overspending her income by massive amounts. What would such spending do to the family’s bank account, provided it had a banker stupid enough to let her continue to do it.
Can this be considered prudent management of the country’s finances?
Can we continue to blame the world recession for Barbados’ financial woes? Or put the blame on the profligate spending of the Government.

Also note. Maximum revenue of the Arthur administration was $2.3billion in 2007/2008
Revenue of the DLP administration as per graph was as follows:
2008/2009 – $2.6 billion approx
2009/2010 – $2.3 billion approx
2010/2011 – $2.3 billion approx
2011/2012 – $2.5 billion
2012/2013 – $1.8 billion approx

Ask yourself. Where was the money spent and was it spent wisely? Clearly it was not spent on capital works, as the graphs show.

Now that revenue has fallen dramatically, despite desperate tax grabs, the government recognizes (or somebody has told it) that the spending spree has to come to an end. 2012/2013 expenditure shows considerable contraction, but more cuts must be made as revenue continues to plummet. The pigs at the trough are being brought to a fine market.

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128 responses to “The Slide of the Barbados Economy: Pictures Are Worth a Thousand Numbers”

  1. JUST ASKING Avatar
    JUST ASKING

    There is no justification for most if not all of the taxes imposed on Barbadians.
    NO TAXATION CAN WORK

    I SUPPORT IT
    I AM FOR IT
    Take Land Tax for example
    Why Land Tax
    It is pure tief they tiefing

  2. Gabriel Avatar
    Gabriel

    The Hon Senator appear to have run from the very pertinent questions and comments enquired of in this forum.This forum is not for the fainthearted.EWB once told a pary member “Woman,let me tell you the facts of life” and she replied “My grandmother told me the facts of life”whereupon the Dipper cautioned her”Woman,you think everything is sex!”Next time,I am in your neck of the woods by the Hoe and Sickle rum shop,I might bounce up pun you,woman!Meanwhile take my advice and do some serious work among the Seniles;you have shown disrespect for a lady who spoke the’Queens’ English
    and comported herself with dignity and restraint despite your silly taunts and from whom you would do well to learn about the craft of Representation of the People.Ermy Bourne still carry influence in St Andrew.You cannot have pins with Elizabeth Thompson.Woman,know your place and fire one…..

  3. Gabriel Avatar
    Gabriel

    @Enuff
    So a True Owner can be dispossessed!What a travesty of justice!No wonder nobody wants to invest in Barbados.Its a Robin Hood society and a Robin Hood economy.Thief from the owner and give it to an impostor.We need the Privy Council in Barbados to save us from these crooked lawyers and crooked lawmakers called politicians who more often than not are lawyers.Politics is the art of getting votes from the poor and campaign funds from the rich,by promising to protect each from the other.It’s a MAFIA brotherhood by a different name but with same objectives.

  4. Enuff Avatar
    Enuff

    @ Gabriel
    Where is a true owner being dispossessed?

  5. LOOK Avatar
    LOOK

    No member of either political party DLP or BLP could satisfactorily defend the sad state of Barbados. It’s sad, really sad but both parties, DLP and BLP contributed. Sadder is FACT that it affects its innocent citizens more than them, political party members.

  6. Gabriel Avatar
    Gabriel

    Enuff
    Quoting your contribution:-
    “And clearly the true owner is protected”Why does a true owner need protection from a law that dispossesses him/her of their property?I will never understand that ass of a law no matter how dressed up.Its thievery cloaked in legalese.

  7. maximasunt Avatar
    maximasunt

    Hahahah Funny! The Law that assumes that the person who walks into the bank with the document is a lily white landholder who can do no wrong, but removes liability from the registrar and puts the onus on the UNSUSPECTING TRUE OWNER to come to the registrar to secure the ownership which should be his or her right is fraudulent and clear would IN ITS BRILLIANCE>>>>>>AHEAD OF ITS TIME BE ENCOURAGING FRAUD. SO IF i KNOW AN OWNER IS OUT OF THE COUNTRY …..OR DEAD ALL I HAVE TO DO IS TO CONTACT THE BANKS LAWYER AND OFFER HIM OR HER A COMMISSION AND SUBMIT THE DOCUMENTS TO THE BANK. HE SAYS ITS OK…I DONT HAVE TO PROVE I AM THE RIGHTFUL OWNER BACK TO THE ORIGINAL DEEDS. I THEN COLLECT MY MONEY PAY THE LAWYER BUILD ON THE PROPERTY OR SELL IT TO THE UNSUSPECTING PERSON AND WALK AWAY……………..THIS IS BRILLIANT???

  8. The People's Democratic Congress Avatar
    The People’s Democratic Congress

    We have been recently reliably informed that Kaymar Jordan is going to be taking up duties from tomorrow, Monday, 16 September, 2013, as the Editor in Chief at the online newspaper Barbados Today.

    She replaces Roy Morris who also officially takes up duties tomorrow as Editor in Chief at the Nation Newspapers.

    PDC

  9. Simple Simon Avatar
    Simple Simon

    @Look “Stuart doesn’t know what to do, he just doesn’t know what to do.”

    If Stuart doesn’t know what to do his fall back position can always be

    DO THE RIGHT THING.

  10. Victor Avatar
    Victor

    Until TRANSPARENCY LEGISLATION is in place, all of the above is so much hot air, gossip, personal opinion and frustrated insider information.

    Ideas such as all politicians are corrupt, land exploitation, etc etc , can only be taken seriously once we know exactly what is going on,

    That goal will never be achieved as long as a member of the public has not recourse to detailed records of expenditure from the public purse.

    Lawyers and other intermediaries (estate agents, banks etc) in transactions concerning all aspects wherein public monies are involved will always find wiggle-room around legislation but with transparency legislation in place, at least the ordinary punter stands a chance. There are jobs for the boys there (I mean lawyers) too, as they defend the victims of government corruption so hey, why not TRANSPARENCY?

    It’s a circuitous argument because those in power do not desire their activities to become public record, transparent. See how the PRESS itself has become victim of its own project in the phone-hacking scandal and China has to bite the bullet live on YouTube.

    In the UK , MPs were dragged into the limelight a few years ago by the PRESS for corruption and fiddling their expenses, when transparency legislation was introduced and many were fined, some jailed and some lost their seats. Yet today, a fresh raft of the creeps have been exposed for finding other ways such as employing family members to line their own purses. Again, it is the PRESS who spotted this latest scam, thanks to the Freedom of Information Act.

    But at least the taxpayers know and the wheels of justice have exposed them and turn upon them. MPs will be disgraced and fined again and voters will reject these individuals.
    From a political culture where it was assumed that all politicians were on the scam we now have a culture where any politician who wants to scam the voters does so at their peril, where they face prison at the worst or being cast out into the outer darkness. Funnily, some who were convicted still get voted in locally. People, eh?
    The question “People, eh?” leads to an examination of why those individuals are still being re-elected, even though they have been exposed as cheats. Further examination highlights vote-rigging.
    Very interesting, thanks to transparency legislation.
    Transparency legislation would provide a new broom for Barbados which would quickly, with such a small population, sweep a swathe through the politics of this island, stop the bipartisan voting and encourage the sense of choice amongst people and get them involved in politics where a new party might stand a chance.
    There is absolutely no mileage in sitting there tearing your hair out worrying about BLP vs DLP. Something new has to happen and the party which introduces transparency legislation will go through a resulting hell, as the Opposition drags them through the mud. The delightful and satisfying corollary being that, the Opposition will go through the same mud, as the public gleefully unpacks the Pandoras box under TRANSPARENCY LEGISLATION!

  11. PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS Avatar
    PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    Enuff@ Fraud like ACTS is not law ,The Acts that Barbados DLP and BLP comes up with it to guard their crooks backsides.

    491 Plantations listed for Barbados and 2013 list only 396 , is this Law or an Act?

    looking at an Act . Violet Beckels 92 never leave Barbados in her Life … Is this an Act or a Law ?
    The court owns no land to sell
    All land have an owner
    If records are missing or removed , its was by man and not ghost ,
    MARVA CLARKE HAVE QUESTIONS TO ANSWER FOR.

    The Mininsters cant even tell you the truth about a budgets today or FOI , which will make all things CLEAR.
    IF THE BLP NOR THE DLP cant tell you about today how can they tell you about yesterday? CROOKS AND LIARS
    WE CANT NOT HIDE FRAUD WITH ACTS, NO ACT CAN BE PASSES TO HIDE, OR BREAK THE LAW. IS HISTORY A LAW OR AN ACT ?

  12. Victor Avatar
    Victor

    There are laws in place to prevent corruption but individuals find ways around them as always. Freedom of Information brings a new focus; sometimes a new Act has to be introduced to shine a light upon nefarious dealings and shake things up and boy, does it! It is such a pleasure to watch the feathers fly as existing legislation can finally tackle and pin down the crooks and bring them to justice. If the shady activities are hidden under current by-laws, the FOI blows those by-laws out of the water to expose what has been going on. It’s all about the public having access so they can have a choice and observe just how their elected representatives behave on their behalf.
    Barbados has a small, well-educated population in which each person has a vote.
    We are not dealing with a vast demographic with dyed-in-the-wool agendas here, where groups have violently differing points of view. It’s a stable, relatively homogeneous society which has found itself at the mercy of Government corruption, whose representatives have been going over the head of the voters for years purely to line their own pockets.
    Transparency would not solve this problem overnight but would go a long way towards doing so and at least voters would know more about where the hell the handbasket is heading, in whose hands that handbasket is and more to the point, what is in it!.

  13. pieceuhderockyeahright!!! Avatar
    pieceuhderockyeahright!!!

    @ LOOK | September 15, 2013 at 7:42 PM |

    You said and i quote “No member of either political party DLP or BLP could satisfactorily defend the sad state of Barbados. It’s sad, really sad but both parties, DLP and BLP contributed.”

    And therein lies the problem in Bulbados, the quintessential nature of the issue that faces 250K + Bajans. and the 50K illegals that neither Erine Griffith S3 Grade nor our Chief Statistician A.V. Browne can (or want to ) ascertain. (Want to is the verb of volition purposely used in the case of Erine’s Immigration department given the kickback $$ that her officers get paid by the illegals for “illegally extending” their stay)

    We are besieged by the hoardes (almost said hoares) of the invading armies of incompetent House of (Ass)embly nitwits, a seasonal invasion that repeats itself every 5 years and sees these interlopers seated in seats of power, running our economy and country into the earth.

    Riddle me this, a kingdom is ruled by a king, a princedom is ruled by a prince, and Bulbados is a cuntry it is ruled by a ???

  14. pieceuhderockyeahright!!! Avatar
    pieceuhderockyeahright!!!

    @ David [BU]

    Over the weekend, the madam almost caught me on the cuntputer doing this blogging thingy.

    Fortunately, i was able to click on the bookmark that I have in waiting for the day that they break down your doors and serve you an order David, an order to release the names of us masqueraders here on BU thereafter for us to be dragged unceremoniously from our homes and carted off, in our various stages of undress, to the Dodds facility.

    Yes David [BU] i was able to click on my safety net page http://www.immigration.gov.bb/pages/Renunciation.aspx

    on visiting this page you will read

    “Requirements for Renunciation

    Part 111 section 8 (1) (2) of The Barbados Citizenship Act cap.186 any citizen of Barbados of full age and capacity can renounce his citizenship. The Minister may at his discretion withhold registration of any such declaration if it is made during any war in which Barbados is engaged by a person who is or who intends to become a national of a foreign country.”

    You will wonder why i keep it so close to hand and while it is evident why having this thing to click saved me from discovery and shame at the Church of *** and being pulled from the seat of the saints to the back of the church, you can also understand that I need a physical escape mechanism, other than the death which Cocky Locky recently invoked on this octogenarian.

    Mine is a fading rationale David[BU] aided by osteoporosis and calcification of the brain.

    It is my flawed reasoning that when the big boot men come crashing through my door that i will, having renunciated my citizenship, claim to be a citizen of some other country, Russia perhaps, and seek refuge and as(s)ylum in my adopted country and in the process get Putin to come here and represent my old dumb ass

    BAFFY, whu you tink?

  15. Irene Sandiford-Garner Avatar
    Irene Sandiford-Garner

    I have just been reliably informed that the 12 BMWs given to the 15 Ministers of Government, as reported in the Nation are really for the Senators. My source informs that the Ministers are to receive a Rolls Royce each. They are on the highs seas. Stay tuned. You shall receive the scoop when they land.
    David I guess Jepter profiles publicly more than Darcy because he is a political candidate, Darcy is not. I never asked either of them, just an observation. Someone, I cannot remember which goat writer, was calling Darcy the same names Owen used when Darcy was appointed a minister. Exact descriptives. Interesting. Minister Boyce responded to Straughan last night via a query of mine. And I am so glad he did. All of you were invited but it is far easier to sit behind a screen and anonymity and curse. And curse. And curse. Easy. Going now to check on my vehicle.

  16. LOOK Avatar
    LOOK

    @ Simple Simon

    Stuart should do that, DO THE RIGHT THING. That would be acknowledging authentic legal documents presented by both Violet Beckles and her estate. Doing the right thing is additionally persecuting and convicting LeRoy Parris, these too: Owen Arthur, Mia Mottley, Sir Richard Cheltenham, Sir Charles O. Williams (COW), Richard Byer, Ralph Thorne, Mark Cummings, Samantha Cummings, George Payne, Dale Marshall and more. Doing the right thing is to surrender a promise (s), integrity legislation and transparency. Doing the right thing is also implementing the criminal confiscation law, IMMEDIATELY.

    Stuart it seems does not know what to do, maybe doing the right thing (s) is just to hard for Stuart. Barbados WITHOUT CHOICE released Raul Garcia, must settle Contractor Al Barack and must settle Violet Beckles. Not doing the right thing or not doing any thing at all embarrasses Stuart and Barbados.

  17. David Avatar
    David

    Senator thanks for the response, you should consider sharing with us how Senator Boyce responded to your query. Also Senator Boyce should consider that he is a key member of the government and like Senator McClean consider defending government policy when the need arises.

  18. LOOK Avatar
    LOOK

    Dr. David Eastwick has recommended increased agriculture insinuating that Barbados cannot afford footing the bill of its enormous food bill. Barbados can afford expensive vehicles, Rolls Royce for its senators but not the enormous food bill for people inhabiting that island. WOW!!! If they are assigned their own private jet. They will be insulting members of congress in the United States.

  19. LOOK Avatar
    LOOK

    @ Piece

    Contractor Al Barrack and Violet Beckles rightfully belonged to the BLP; these toy gifts given to the DLP in 2008 unfortunately are problematic but could not be returned. Barbados BEFORE 2008 was ruled by a Humpty Dumpty King. Barbados since 2008 is ruled by a Humpty Dumpty King. The humpty dumpty king before 2008, a drunk, inept and corrupt sat on the wall, allowed (3) S&P downgrades but worse, the Violet Beckles and Al Barack sagas. The humpty dumpty king since 2008 is having a great fall, can’t put things together: Contractor Al Barack and Violet Beckles or its failing tourism industry.

  20. LOOK Avatar
    LOOK

    @ Piece

    The DLP campaign BEFORE 2008 promised integrity legislation and transparency but the Humpty Dumpty king (s) since 2008 wouldn’t and or won’t allow them. .

  21. millertheanunnaki Avatar
    millertheanunnaki

    @ Irene Sandiford-Garner | September 16, 2013 at 9:35 AM |
    “Minister Boyce responded to Straughan last night via a query of mine. And I am so glad he did. All of you were invited but it is far easier to sit behind a screen and anonymity and curse.”

    Mrs. ISG, could you tell the BU family (if not the extended family, then David) how much does it really cost to run the QEH at a reasonably efficient and effective level of performance? As you know public health and patient care are non-negotiable social services. An unhealthy nation is a sick nation both physically and mentally..

    We ask you this question because we know at one time you were the understudy to the MoH with special responsibility for the QEH and its possible replacement.
    Is it reasonable to assume the QEH requires approx. $200 million as confirmed by your former straw boss Inniss or is it more in the region of $ 110-120 million as its expenditure budget covered by transfers from central government is to be cut this financial year from $145 million minus $35 million leaving $110 million or thereabout?
    However we don’t expect an answer to this pertinent concern of the people but only about BMW’s and RR’s and MB’s.

  22. Gabriel Avatar
    Gabriel

    When ye Hon Senator deigns to respond perhaps she can say now that Marva has retired,in whose carrying bag is reposed the Last Will and Testament of the Dead King of St John.Ye Will has been probated and as a Public figure,the public should know the value of that crooked man’s estate and who is benefitting from taxpayers monies therein detailed,and why Students of the UWI must be penalised at the expense of the Dead Kings’Estate Real and Personal funded by the taxed of the Realm.

  23. Well Well. Avatar
    Well Well.

    Do yall really expect someone who likes to boast and pretend, tongue in cheek or not, to answer questions that need honest answers?? You would be better off asking the IMF officials, S&P or Moody’s, you are more likely to get an honest answer, even with all their warts

  24. PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS Avatar
    PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    Beatrice Henry died December 13th 1985 age 93 .. look at the chart
    Violet Beckles died October 23rd 2019 age 92 look at the chart
    look at all charts on BU and see magic
    Summary of Government Operations (BDS$ Millions)
    look at after most taxes were paid line 4 Property taxes 2011,,,
    Before the death of Violet Beckles and after the dates 5.0 Million and 5.8 million before that was 150.8 million and 118.2 Million , So no one can save them crooks now,,, Sir Ham did his part by letting everyone in the game know he got the PLANTATION DEEDS,,, NOW HE DONT HAVE THE SAME PULL BUT WE LOOKING AT THE PULL DOWN.
    People lie , words lie , NUMBERS dont lie. Unless they are DLP/blp numbers and words.
    Just this line 4 alone will have a chain reaction . When i hear the word COLLEAGUE , THE SHOW WITH THE DOG COMEs TO MIND.
    Seems a lot of people call them self that name in the House and the Lawyers of Barbados.
    Clear titles or clear out.
    We have the fix to all things , dont be distracted with long talking of the 2 crook Parties.Do the Math People

  25. PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS Avatar
    PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    Wrong date is to read Violet Beckles August 23rd 2010 and not 2019
    David PM October 23rd 2010

  26. PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS Avatar
    PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    We see the PM of Barbados now buying votes with CARS,VOTE BUYING TO BLOCK THE OTHER CROOK MIA LOLOLOL
    LOVE TO SEE WHO FLIPPING THE BILL, MUST BE UWI?
    QEH, UDC, VAT MASTERS,WE BET THAT 2% VAT PAID FOR THE CARS ,, NEXT YEAR THEY WILL GET NICE BOAT OR SHIPS,WHAT ABOUT A PLANE ? REDJET LOLOL ,ARE THEY ARMOR PLATED?

  27. Irene Sandiford-Garner Avatar
    Irene Sandiford-Garner

    They (the cars) are not armour plated. Yet. Each of us has to first ascertain how much of the line item “transfers to individuals” is deposited to our personal accounts and that wll determine the type of kit we can afford.

  28. PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS Avatar
    PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    No less than 60,000 usd , it may add another 600 to 1000 pounds to the cars, which will then need turbo or super chargers to maintain the power and speed of the cars.
    Underwear will cost up to 6000 us they have some new stuff out now.
    what is the plan for bird shit? cut all the tress down lolololol

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