Budget day: Wednesday, March 20. Prime Minister Mia Mottley will deliver her first Budget on March 20, 2019.
Without doubt the 2019 Budget will be interesting not only for the pundits, for the masses as well, who for the first time are witnessing a Barbados in the grip of economic and social turmoil NEVER experienced in our history. The political partisans as if trapped in a time loop will forever be debating -who to blame, B or D. The blogmaster and sensible others respectfully suggest we need to take a long hard look at the image in the mirror.
We have allowed a burgeoning political class to hold a people and country to ransom while we stood by and applauded. The lack of people participation in government in the last 25 years has given birth to the current state of things. A dysfunctional system will never generate the desired result.
There has been a heavy focus and expectation by Barbadians that monetary and fiscal policies of government represent a panacea to the many challenges which confront us. If youth employment is 24% how does one justify an allocation of 3 millions dollars to the BLOCK program being promoted by Minister of Youth and Community Empowerment, Adrian Forde? The young people on the BLOCK is one of the symptoms how the society is failing the people. Our inability to create opportunities for our people. Our inability to repair, fix and grow and build
Barbados is navigating uncharted waters. The budget will be debated this week with token opposition. Another dysfunction we are grappling. We have a people still hoping for the usual Budget handouts from government notwithstanding the deep economic hole we continue to find ourselves.
One of the greatest disappointments in the post 24 May 2018 period is that we have not been able to reach a national consensus on a way forward. A view from the idealist perhaps.
If we read the political leaves of the 30-0 result the electorate almost to a man determined the DLP was an incompetent government. We have the BLP incumbent and although commonsense suggest the government needs more time, we have spotted a legacy behaviour by the political class which serves to stoke the apathy latent in many of us.
As vivid as the imagination of a child the blogmaster – try as he might- is unable to see the flicker of light at the end of the proverbial tunnel. Bear in mind the cracking of the economic juggernaut requires a parallel effort in the social sphere. There is corruption, rising crime, an irrelevant justice system, a scant regard for the environment etc.
Our strategies must be holistic.
Participation must come from all of civil society.
We must commit to re-engineering our thoughts, words and deeds.
The mantra now and in the future must be sacrifice from everyone for the good of ALL.
If Barbados is to rise, we have to park the noisy adversarial ethos political talking heads and partisan supporters revel and earn pennies from. The final say – in theory – rest with WE the people. Let us power up our collective intelligence to wrest our country from the political class. The hopes and dreams of our children and their children depend on it.
Democracy is the government of the people, by the people, for the people –
-Abraham Lincoln
“Enuff March 24, 2019 11:38 AM
Invest in, pay fuh, spend money pon etc, etc, etc”
DON’T TIEF…
Mari
You continuing where the last DLP administration left off, with them false hope/lying
But you continue
The only belly aching, weeping and gnashing of teeth only happening in Belleville.
What going to happen when you all realize that you are not even “second” party anymore?
As we have seen – the British were only successful when they were exploiting and oppressing. They were only more brutal and ruthless than others, not intelligent or hardworking. They are no less corrupt than we are. They just happened to develop weapons of mass destruction (judged by earlier standards) and used them to plunder the planet.
They got the jump on us with the gun. That’s ALL!
I admire the Gov’t for this sleight of hand we were promised new buses little did we know that it meant mini-buses.
Welcome to the new boss same as de old boss.
https://barbadostoday.bb/2019/03/23/minibuses-to-boost-bus-service/
@Sargeant
The electric buses will take awhile, the garbage trucks are also taking awhile.
@David
What Hal is trying to point out is that this is not a liquid investment: ie Sagicor cannot recover its investment quickly if it needs to.
Insurance and investment companies need much more liquidity than pension funds for example. The cash needs of pension funds are quite predictable, but insurance and investment companies like Clico or Sagicor can be overwhelmed quite quickly by client demands for withdrawals or by natural disasters which necessitate large payouts.
@Peter
The point is understood more that you know.
It is a pity Walter has had to withdraw from this forum and we are not able to benefit from his training.
The substantive point is accepted, we need our regulators to be vigilant.
@PLT
Spot on. Mia should hire you as a consultant.
@David
Remember the “weeds” that you said was growing in the sidewalk? These weeds are now full grown “cow itch” that we can’t get rid of, when/if the electric buses materialize how will you extract the mini-buses from the routes?
This slippery slope is part of the reason that we are where we are successive Gov’ts allowed the ZR industry to virtually monopolize what should be a public undertaking and now we are seeing the results.
The point is understood more that you know.
It is a pity Walter has had to withdraw from this forum and we are not able to benefit from his training.
The substantive point is accepted, we need our regulators to be vigilant.(Quote)
What crap. We need good insurance regulation, instead of semi-literate nonsense about the substantive point. Idiot.
The point of a regulatory regime is to make the corporations in the regulated space vigilant; or failing that, to enforce fail safe conditions by legally inhibiting them from risky behaviors. I do not see evidence that local regulators achieve either objective, but I may be wrong.
@PLT
Clico.
“They got the jump on us with the gun. That’s ALL!”
but only after tiefing the gunpowder from China…lol
mari
“As noted by many including the ministers who are ashamed to face the said people who voted for them”
who the many?
in Barbados today there is an article about the minister of agriculture and mp for st john attending a meeting in gall hill, st john yesterday.
talk about smoke and mirrors?
check the old lady on the bus and mia’s LEC.
but continue, you fit right in with the other 30 liars and thieves.
On the one hand, Hal has always been big on regulation, and on the other, he reminds us Barbados ‘is a failed state’. How does one regulate in a failed state?
@Northern Observer,
The state has failed as a result of the failure of regulation. Name an area of state regulation in Barbados and I show you an institution that has failed. The courts?
Hal
Yes I am duncey, so educate me. What arm of Sagicor Financial Corporation is investing in the retirement village?
@ Sargeant March 24, 2019 12:14 PM
This slippery slope is part of the reason that we are where we are successive Gov’ts allowed the ZR industry to virtually monopolize what should be a public undertaking and now we are seeing the results.(quote)
this is far fetched, that a govt in the future will probably enforce PSV and impose PSV regulations that some operators in the transport sector may find to unreasonable and withdraw thus allowing the TB to resume some of the space it gave up or was removed from?
Just asking
The Chairman of the Transport Authority Ian Estwick hinted that a rationalization of routes assigned is coming. Not far fetched at all.
@ Sargeant March 24, 2019 12:01 PM
(quote)Suggesting that the private PSVs will operate like “a Transport Board bus does”, the Minister said children and senior citizens will travel for free on these branded vehicles. (quote)
When the min says “operate like the TB does”; what exactly does he mean ? The TB is no bastion of punctuality or effectiveness or efficiency. I hope the min is not speak outta both sides of his mouth.
He means the same concessions offered by public transport will be offered by the PSVs.
@ Enuff
I think you should sit this one out boss.
You have no idea what you are talking about.
Dullard
Well educate me nuh!! Tell me why Sagicor should not invest in property development.
@Enuff
Property development is not a liquid investment: ie Sagicor cannot recover its investment quickly if it needs to.
Insurance and investment companies need much more liquidity than pension funds for example. The cash needs of pension funds are quite predictable, but insurance and investment companies like Clico or Sagicor can be overwhelmed quite quickly by client demands for withdrawals or by natural disasters which necessitate large payouts.
Insurance companies also cannot depend on only liquid investments to generate an adequate return.
PTL 1207pm
A company as big as Sagicor should be loaded with reinsurance to cover drawdowns in the two examples that you gave.
Just saying.
Hey look fuh more strikes
Dancing wid the devil nit as easy as one think.
@john2 March 24, 2019 4:42 PM
Surely a company as big as Clico should have been loaded with reinsurance to cover drawdowns in the two examples that I gave.
We either learn from history… or we don’t.
Does anyone know if the deal between Alignvest and Sagicor has been completely?
John2 i wonder what smoke and mirror the minister used to explain that tax hike in water
Couldn’t have been easy .i await the next month when the agricultural sector make they voices heard
@PLT
Reinsurance cover will be a good regulatory requirement. But good regulation cannot make a bad investment good. Reinsurers will see the tsunami coming. Property development is not a good investment policy for an insurance company, period.
Let us look at a model asset allocation – 45 per cent in fixed income; 30 per cent in equities; 15 per cent in commercial property; and five per cent each in cash and hedge funds. We can tweak these.
The key from here is going to be asset allocation. Equities to grow the fund, fixed income to meet obligations. Property development has a very small place if the purpose is to stimulate a market (but no more than five per cent in place of hedge funds); if it is to become a landlord it is irresponsible. Clico invested in plantations, Sagicor in retirement homes – madness. Did the regulator approve this ‘investment’?
By property development I am talking about residential property, not commercial, which is a positive asset..
PTL
Was it heavy drawdowns that caused the fall of clico?
Just asking/ I really don’t know
Neither am I saying Sagicor is right or wrong in their investment.
@Tron March 24, 2019 7:14 AM “Perhaps it really would be best not to let the broad masses in Barbados vote anymore. The broad masses are unfortunately not in a position to handle money and should better let others decide for them. We should therefore have a serious debate on my proposal to link the right to vote to the level of land tax.”
Trying to grab more power for you and yours aren’t you?
Isn’t it the monied classes that phucked up things in spite of 223 years of free labour.
If you can’t make a go of things with the “gift” 223 years of free labour, then you are a LOSER.
And nobody should trust you with a single cent for the next 1,000 years.
@Donna March 24, 2019 11:59 AM “They got the jump on us with the gun. That’s ALL!”
So true.
The original bad boys of the 17th, 18th and 19th and early 20th centuries
@ the Honourable Blogmaster @ March 24, 2019 1:50 PM you said and I quote
“…The Chairman of the Transport Authority Ian Estwick (who is said to be, Mugabe’s cousin) hinted that a rationalization of routes assigned is coming. Not far fetched at all…”
Alex Linton who is the Dirctor of the Transport Authority now that the other incompetent Director has gone, promised the same thing to his two former Ministers Jihn Whisper Boyce and Michael Lashey and and and having spent 500,000 in equipment, software, networking and training in ammmm nuff tings including ArcGIS still has not delivered one effing thing.
But then again that is the modus operandi of inferior inferior superiors is it not?
The electorate will judge this government harshly if they donât move the needle, Mia should be aware. To whom much is given …
But I thought Alex Linton recently left the Transport Authority?
@ the Nameless Ones #1
Alex gone?
Thank you for the update.
Why wunna leh he vo doah?
Dig it hard anything to do with underhand licensing practices?
Since you providing de ole man with these updates, tell me if de ole man statement bout de 1/2 million dollar waste he oversaw is a lie?
Ef you continue to help de ole man like dis, I promise not to call you number 1 but say something like the “Cardinal Integer” so people dont think that you is still Mugabe’s piss pot and de udder feller her shyte pot.
Heheheheh
Look what will get Barbados economy back on track!!
https://barbadostoday.bb/2019/03/24/beekeeping-can-get-economy-buzzing/
Unbelievable !!!
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