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The Slide of the Barbados Economy Part II: Astonishing Revelation in Central Bank Report

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Submitted by Inkwell

In my recent submission The Slide of the Barbados Economy: Pictures Are Worth a Thousand Numbers  highlighting the excessive spending of the government over the last five years, one of the questions I asked was “Where was the money spent and was it spent wisely? Further research produced the following chart which can be found at page 12 of the Central Bank June 2012 Press Release.

CLICK IMAGE

 

In the section headed Current Expenditure, we see four headings appearing for the first time in 2008/09 in a summary of Government operations, namely Grants to individuals, Grants to Public Institutions, Subscriptions & Contributions and Non-Profit Agencies. I am astonished that in the throes of a recession, Government can find money to give away and I would like the Government to let me know

  1. Who are the individuals who were “granted” $257.8 million in 2008/09, $278.4 million in 2009/10, $304.0 million in 2010/11 and $294.0 million in 2011/12, a total of $1,134.2 billion over the four year period?
  2. What are the Public Institutions which were “granted” $824.7 million in 2008/09, $757.1 million in 2009/10, $808.4 million in 2010/11 and $658.4 million in 2011/12, a total of $3,048.6 billion over the four year period?
  3. Under what circumstance were these “grants” made?
  4. If “Grants” of this nature are being detailed for the first time in 2008/09, under what headings were the previously reported?
  5. Assuming that the “grant” policy remained unchanged, how much was “granted’ during fiscal 2012/13

Somebody please tell me that these figures are erroneous and that the Central Bank is playing a joke on the people of Barbados. The alternative is mind boggling.

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95 responses to “The Slide of the Barbados Economy Part II: Astonishing Revelation in Central Bank Report”

  1. Gabriel Avatar
    Gabriel

    Bizzy does not pull any punches.Barbados has been spending beyond its earning capacity since the dead king and now the dumb pretender to the throne assumed control of the purse string of the Realm of Barbados.Bizzy opined that from the GG back down and including the PM as the Chairman and Board of Directors of the Realm,should not be drawing any emoluments as the Corporation Sole is to all intents and purposes bankrupt .
    Paul Altman,Mr Real Estate and Magnet of the monied Euro based class whose word is worth the difference between a rock and a hard place named the Barbados economy has opined that confusion reigns in the minds of the Quisling Boyce,the Buffoon and Bull Shitter Sinckler and the Confused and Mindless Stuart,so that no one not even those three named understand what is intended in the figures and fragmentary conclusions of the budget so called.Tibbits has added his voice of dismay.
    What has now become public knowledge is that unrefined,crass people who are economic and accounting inferiors have cast a mantle of doom and gloom on the future growth of the country.The DLP Government has spoken.We now have to work out what they said.

  2. Well Well. Avatar
    Well Well.

    Someone sent me a short clip of what Darcy Boyce said tonite on the news and he really did sound a bit confused and unintelligible. He did have an excuse for ministers/senators and i believe he may also have been speaking for the opposition not volunteering to cut their salaries, in his mind their tax brackets are increasing so that absolves them from not taking a 5-10% percent salary cut, if they had any principles at all, that would not even be a factor. The government needs to find someone who can articulate words better even if it’s to mamaguy the electorate.

  3. Enuff Avatar
    Enuff

    Miller
    Don’t mind Observer. Those projects were on the books before 2008.

  4. David Avatar
    David

    Is it not amazing how a known timeline for shifting below the line debt must become contentious? We are sinking fast.

  5. balance Avatar
    balance

    “and apparently happy NOT to set a precedent where opposition parties investigate and expose such discrepancies….pending a role change then”

    ” Do you not realise Bushie that there are certain troublesome issues on which the parties agree not to criticize each other because they have the same sores. I am sure that the BLP most likely have given away similar sums to friends as well.

  6. Irene Sandiford-Garner Avatar
    Irene Sandiford-Garner

    Good morning all! David why would you go and spoil everything? How would you know where my tongue is??? That car was looking so darn good!!! Steupssssss. Anyway, I need to go check and see how much of the grants to private persons has been deposited to my account. Accounts really. Have many since coming to Government. May pass a drink your way later. I do know I certainly need to take Gabriel’s advice and spend some of it on a new hairdresser…Maybe she can do some work for those with goatees as well. Certainly looking like a fertile entrepreneurial niche.
    I realise that Nehaul’s contribution only has ten responses. Is that because he said the initiative was a good one, and proceeded to submit constructive criticisms/suggestions (some of which are already in place)? Too truthful, balanced and positive perhaps?.
    Banks open. Need to pass through and make a check on my way in. Enjoy your day!

  7. Well Well. Avatar
    Well Well.

    First thing this morning bright and early and in your face, Jones the jackass is trying to cut scholarships, there are two things an intelligent government NEVER does……….1) sell your national bank or shares in the national bank, 2) cut scholarship funding, no country in the world does that…….they would be better off getting rid of the constituency councils if Carson and ac, both dumb as rocks, are the measure of what they are wasting taxpayers money on, if all their yardfowls are that dumb, it is certainly a crime to waste taxpayers money like that.

  8. Inkwell Avatar
    Inkwell

    MS Sandiford -Garner,

    Why don’t you stop your puerile pissing about and address the questions and concerns in the post. Are your flippant responses all we can expect from a candidate asking for electoral support and hoping to be taken seriously? Extremely disappointing, but not unexpected. If you are not competent to provide answers, then you should STFU. You are doing neither yourself nor your party any good. You claim to stand for good governance, but your disdain in respecting the rights of the electorate to information which should be in the public domain is instructive.

  9. millertheanunnaki Avatar
    millertheanunnaki

    @ Inkwell | September 17, 2013 at 9:27 AM |

    You will notice her deliberate move to sidestep the QEH funding issue. She was not asked to comment on something outside her intellectual pay grade like the management of the fiscal deficit or bond floatation.

    She was just asked a straightforward question on an issue with which she ought to be au fait given her previous ministerial incarnation of being in charge with the QEH special project.
    Mrs. ISG, if you are reading this, is it possible to get you to comment on the matter raised regarding the cost of running the QEH in a way that would not seriously compromise the delivery of health care to the public in keeping with standards expected of a country which likes to boast about its high human development and enviable position of the UNDP HDI.

  10. Well Well. Avatar
    Well Well.

    This is the first time i have truly wanted to see a government in Barbados capsized, if only Mia had the balls to do so. Their ministers/senators are nothing but a total disgrace and display a lack of raw intelligence that is needed to even manage/supervise a picnic. For the taxpayer’s sake i hope that the likes of an Exhibition winner (Thompson) never again have the opportunity to scrape the bottom of the barrel when appointing ministers/senators he deemed beneath and below him, the island is now stuck with a bunch of semi-literate retards posing as leaders.

  11. Well Well. Avatar
    Well Well.

    Miller………….did you really expect anything better from a senator who was trying to float the idea of taxing barrels of food coming out of North America to feed the same poor taxpayers who pay the idiot’s salary, wonder what happened to that ‘brilliant’ idea.

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

    Unless there are fundamental changes in some of the languages, meanings, and actions (political economy, economics, western finance, etc) that have been used by many people in Barbados, and too of which have been in direct and false contradiction to what is happening in Barbados socially, politically, materially and financially, and for the brighter and better ( and on the basis of the evolution to the “right” languages, meanings and actions suited for the further development of this country ), this country will continue its very terrible descent down and down the drain – as is exemplified by the comments of some persons under this thread which do indicate no serious ideological philosophical logical compasses in which this country ought to be taken.

    Anyhow, the PDC has so far evolved twelve (12) principles concerning MONEY and its uses in Barbados.

    Two of these principles are:

    1) Money, or its uses, CANNOT give rise to Money Debt – nothing can anyhow;

    2) Money CANNOT be used to pay back Money Debt – nothing can anyhow.

    That is why – on these and other fundamental premises – that the PDC talks about a post-PUBLIC DEBT society for Barbados, so that whenever a certain future coalitional government comes about in Barbados and of which the PDC shall be a part of this will be one other society that shall be ushered in.

    PDC

  13. LOOK Avatar
    LOOK

    Senator Irene,
    You gloating, we know is deliberate. You are deliberately hurting people. They’re not liking it. Now, now step back just a few years. Gun shots fired into her home and human faeces smeared on her business (2007) were also dilerabate; this hurt you; you did not like it. Bajans before election (02/22/2013) truthfully didn’t want the DLP but didn’t want the BLP either. The choice was two bad apples BLP and DLP, but the DLP was the one chosen. Next time, the choice will still be the two bad apples, BLP and DLP, but the one chosen will likely not be the DLP. The country is broke, all in the red. Chris Sinckler’s budget axes Queen Elizabeth Hospital and students going forward into higher education but has audacity, can gift each senator a Rolls Royce. Something is wrong with that picture.
    The BLP was corrupt, but the DLP is its clone. Both in Barbados have overstayed their welcome. Things must change. People Haiti said enough is enough with Duvalier (Baby Doc) and wife Michele Bennett, told them, HIT THE ROAD JACK. People in Barbados must NOW come forward, must demand Integrity Legislation and Transparency, and demand both parties BLP and DLP to hit the road jack.
    [youtube=http://www.youtube.com/watch?v=ZKvhxapM5zo&w=420&h=315]

  14. millertheanunnaki Avatar
    millertheanunnaki

    @ LOOK | September 17, 2013 at 3:18 PM |
    “Chris Sinckler’s budget axes Queen Elizabeth Hospital and students going forward into higher education but has audacity, can gift each senator a Rolls Royce. Something is wrong with that picture.”

    Please don’t fall for the “Rolls Royce” propaganda red herring to lead the debate away from the real issue in hand.
    It would only allow people like Irene aka Marie Antoinette “let them eat cake” queen of St. Andrew who does not care two hoots about the poor and suffering to dodge the gravamen of the current self-induced fiscal crisis and divert the discussion to suit her own narrow political aims. She claims to be a trained journalist in political propaganda and knows how to dangle rhetorical faeces to the political mullets.
    Don’t bite on the RR car shit.

  15. Well Well. Avatar
    Well Well.

    Miller…………..stupidity is often used as a distraction, in this case it will only expose sandiford-garner for what she really is……………..

  16. Prodigal Son Avatar
    Prodigal Son

    miller,

    Pray tell me what is the Senator trying to achieve by coming on BU with this RR car shit as you put it. She wants people to bite at that and then she will say ….look how gullible people on BU are. Goat writers she calls BU contributors. She should know being part of the goat colony called the DLP. How else shall we describe what is happening in Barbados?

    We asked her about what is going on in tourism …a job we are paying her to do and we get nothing. Even the sleeping giant is speaking these days, so I do not know why she wont answer Gabriel, Well Well, yours or my questions.

    By the way Gabriel, the LIAT Director you could not remember was Grantley Smith but he is now retired so the person acting for him I assume would take his place…..that is Martin Cox.

  17. Gabriel Avatar
    Gabriel

    @Prodigal
    Thanks for the reminder and is it true that he opted for retirement because he couldn’t take the crapeaux for ministers he had to deal with on a daily basis?

  18. Clone Avatar
    Clone

    Maybe rich little Barbados can learn something from this article as seen here -http://news.yahoo.com/u-poverty-uninsured-rates-flat-2012-census-142301109–sector.html
    U.S. poverty rises despite economic recovery

  19. David Avatar
    David

    @Clone

    This article does not reveal anything that we have not covered on BU. We have already established in earlier blogs that the planks upon which the world will create wealth in the future have shifted. Wealth creating will now now mean more jobs. It is why we have been shouting at our ‘dumb’ politicians that traditional thinking and expectations will not do.

  20. Prodigal Son Avatar
    Prodigal Son

    Gabriel,
    I was told that it was his time to retire! Looks strange that he left just before this year’s budget but I am told there was nothing to it. Normal retirement!

  21. JUST ASKING Avatar
    JUST ASKING

    The Women’s Party of Barbados (WPB)
    must become a reality.
    The most famous person from Barbados who is known throughout the civilized world is you know who and she is a what ? Answer :–Female/Woman

    Why the France women in Barbados cant take inspiration from Ri Ri and form their own political party. Ri Ri conquered beyond Barbados. What happen to the women in Barbados ? We have enough women capable and competent to form their own party. It is not like these political parties run by men have given women all the chances in the world. And to boot—The men have failed

    Arise my Barbadian Women
    Arise and conquer !

  22. ac Avatar
    ac

    Godd Question ..just asking. ….one would think that with all the ass kicking MIA got from that scamp OWEn she would have distance her self and strive to elevate herself at a much higher level rather than succumbing to the political blows of OSA. .it is a shame Mia did not use the opportuinty as a political weapon against Osa which most would have endorse in the meanwhile gaining respect and empowerment among female.

  23. LOOK Avatar
    LOOK

    Contractor Al Barack and Violet Beckles rains only on the BLP, but CLICO rains on both the BLP and DLP. Owen Arthur took money from CLICO, just a lot less than Thompson. Thompson was mad as hell, jealous too. When given the opportunity, he took more, a lot more than Owen. VECO gifted the Alaska Senators and Representatives generously, BLP members too. Irene and DLP members are mad as hell, jealous too. Neither party wants integrity legislation and Transparency and refuses to surrender it because both are caught in the trap of greed and corruption. Someone other than Plantation Deeds should come forward and stand in the face of these crooks. Plantation Deeds opened up a can of worms; the dirty nasty worms are all of the following: Owen Arthur, Mia Mottley, Sir Richard Cheltenham, Sir Charles O. Williams (COW), Richard P. Byer, Ralph Thorne, Samantha Cummings, Mark Cummings and more.

  24. BAFBFP Avatar
    BAFBFP

    Jusk Asking

    Like you ain’ know women hear … Get two women in the same room to get along on anything and you got a crowd …!

  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

    JUST ASKING@ MIA as AG is the big crook , so why would want that big crook to lead the Nation? She had to Information in her hands and kick it to the side , Was given to her by Caswell in 2002 .
    We are in this mess because of her ,,, Next election will be a different story… We will be ready.
    MIA in Bequia to see Sir James Mitchell.? Looking for advice?

  26. Prodigal Son Avatar
    Prodigal Son

    @ miller
    “Who are the individuals who were “granted” $257.8 million in 2008/09, $278.4 million in 2009/10, $304.0 million in 2010/11 and $294.0 million in 2011/12, a total of $1,134.2 billion over the four year period?”
    “”””””””””””””””””””””””””””””””””””””””””””””
    You and Observer were discussing this line of expenditure. I have been thinking about it and it is of great interest that this expenditure started in 2008/9. This cannot be what was generally said of bringing off budget items to budget.

    I have come to believe that this expenditure has to do with the huge amount of consultants and consultancies this government embarked upon……….sharing the fatted calf, maybe??????

  27. Well Well. Avatar
    Well Well.

    If these politicians are so ‘intelligent’ as they are leading the electorate to believe, why would they need consultants, paid for by the taxpayers, i smell kickbacks out of these consultancies.

  28. DR. THE HONOURABLE Avatar
    DR. THE HONOURABLE

    Women is trouble but I cant say so. Too many persons would attack me. Foolish men who want to find favour with the women and women who believe that cannot say anything about women. So I gone bosie, I aint saying nothing about selfish and vindictive, ignorant of most things and strife makers

  29. DR. THE HONOURABLE Avatar
    DR. THE HONOURABLE

    What WPB party what ? Women are not leaders or innovators and they cannot form a political party for sure. Politics not for women. Politics dirty and even if some say that women should be comfortable in cleaning up , I don’t see how they can ‘clean’ up politics.
    Women cannot do it . I would bet that they cant, they wont—Jokers do not have the gumption. All they do is gossip and pressure men, treat men badly and do not care how much you do for them –You in do nothing for them.

    Think women easy ?

  30. Well Well. Avatar
    Well Well.

    Dr. the honourable……..why did you stop your therapy??

  31. Yagga Rowe Avatar
    Yagga Rowe

    Retired people do what
    again ?
    sit around all day
    Is that healthy ?

  32. Georgie Porgie Avatar
    Georgie Porgie

    NO
    IT DRIVES YOU CRAZY
    SINCE MAN SINNED IN THE GARDEN WE WERE CONDEMNED TO WORK

  33. BAFBFP Avatar
    BAFBFP

    GP

    Praise the Lord I don’ have to give birth … If the female population thought like me, mankind would have met its demise ages ago … (well there was always possibility of rape …!)

  34. Georgie Porgie Avatar
    Georgie Porgie

    lol baffy

  35. DR. THE HONOURABLE Avatar
    DR. THE HONOURABLE

    Well Well. | September 18, 2013 at 2:57 PM |
    Dr. the honourable……..why did you stop your therapy??

    I stopped when I got rid of women from around me confusing me . No women ; nO NEED FOR THERAPY

  36. Well Well. Avatar
    Well Well.

    Dr. The Honorable……….i was just asking.

  37. 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

    Well Well @ more than kickbacks , Jackass licks,
    over pay and give me some back . Why you think RED JET not flying , Sink man wanted his Jackasslicks,10, 000,000 $ and the men said no,
    So RED JET out for now, We hope they come back,
    liat sucks , 25 percent of the workers need to go home for Life.

  38. LOOK Avatar
    LOOK

    Members in both parties BLP and DLP are a waste of taxpayers time and money; ALLl should be trashed. Barbados could do better than Stuart and certainly better than Mottley. Trinidad utimately will have their way in Barbados; country has fallen too many steps.Greed and corruption from the past has caught up with it.

    Irene and her DLP party have now put themselves in a boastful position and even sport arrogance because the BLP at moment is a laughing matter. Proof of this is Kerri Symmons also Gerge Payne v Edmund Hinkerson and Mia dare not knock on their door with dirty laundry of any kind.

  39. Yagga Rowe Avatar
    Yagga Rowe

    LOOK
    Somebody has to be Prime Minister
    A Party has to form the Government
    your ranting is ignored
    not practical
    fatalistic
    pugilistic
    idiotic
    unworkable
    unrealistic
    folly
    foolish
    dotish
    not cricket muh lawd

  40. Well Well. Avatar
    Well Well.

    Plantation………..just more of the same.

    Carson……..why are you so quiet, i know you love to run to the fore with other countries business like if you are trying to oneup and expose the other countries problems, surprised you have not yet posted the below link, is it because since IMF officials have not given any official statement on Grenada’s assessment, there is no way they would have given any results or half-results on Barbados’, see how you make yourself look foolish………….I thought i would help you out today and post what Grenada’s PM plans to do re their deficit problem and IMF help………..i am surprised you have not posted it, you are losing your touch.

    http://www.nationnews.com/articles/view/grenada-to-adopt-imf-agreement/

  41. Due Diligence Avatar
    Due Diligence

    “It is now time for Grenada to confront the fact that it cannot continue to pay its debts on current terms, and that the restoration of growth requires the debt overhang to be resolved. We need a fresh start, and it is therefore imperative that we approach our creditors promptly to discuss an orderly restructuring of our liabilities,’ Mitchell said when the group was appoin

    Stuart should hire Mitchell as a consultant

  42. LOOK Avatar
    LOOK

    Yagga Rowe
    Please, don’t make me your foe.
    Someone need show you light,
    because you seem to not have sight
    Trini you know is deep into BIM,
    and the island is at brim
    It’s not rumor,
    and certainly not humor
    Too late to cry,
    You, though don’t have to die.

    Yagga Rowe,
    don’t be the last to know,
    parties in government might be crooks,
    and cooking the books

  43. 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

    Just Look at PROPERTY TAXES in 2004/2005 112.9 Million and then look at taxes in 2011 and 2012 , As you can see taxes on LINE 4 is way down ,
    So Plantation Deeds picture my be coming in to FOCUS now.
    Fit the land , and the rest will fall in to place,
    VAT and other taxes will go up to cover the Massive Fraud ,
    Truth will set us all free and lock up a few and many more removed ,
    Study the Numbers and Add Violet Beckles to this Math ,

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