Appropriation Bill 2021 – A Time to Discuss Money Matters of State

The Appropriation Bill 2021 will be debated in the House of Assembly starting Monday 15, 2021 at 10AM. It is one year since Covid 19 occupied the attention of countries on planet earth with the impact on Small Island Developing States (SIDs) obviously the most affected. There is no doubt the debilitating impact on the economic and social well being of earth dwellers has not been fully felt. The blogmaster has not forgotten that before the pandemic showed its head the economy of Barbados was precariously perched.

Read the Appropriation Bill 2021 designed to “provide for the grant of a sum of money [$1, 682,795,117] out of the Consolidated Fund and to appropriate the same for the service of Barbados for the Year ending 31st March, 2022.

117 thoughts on “Appropriation Bill 2021 – A Time to Discuss Money Matters of State

  1. @Crusoe
    Some years ago, on this forum, I suggested that legislation needed to be enacted to protect homeowners who are unable to pay their mortgages
    You is a boy I like but yuh talking sh.te

    The Gov’t should not be expected to protect everyone against every eventuality, we already have a nanny Gov’t and now you want the Gov’t to bail out some people who may over- extend them selves to get that “dream” home.
    The best thing that can be done is a required high school course that teaches a basic course financial literacy, financial planning and the ins and outs of making poor financial decisions. We would be on much better footing if people knew the risks of what they may be getting into and how to protect themselves.

    Next thing somebody will propose that Gov’t enact legislation to protect us from the next pandemic, when we only have to avoid drinking water 😊.

  2. Financial literacy has nothing to do with people who fall on hard times. The problem in Barbados is not financial literacy, although that is badly needed, but opportunities for income protection cover, so that if someone loses his or her job, for at least six months they will continue to receive an income equivalent to their monthly salaries.
    The intention is that within that time they should be able to get a job or make other arrangements. In the meantime, the financial regulator should restrict lenders from repossessing properties at the first sign of a default.
    I suggest they should only be allowed to do so after obtaining a court order. This is not being a nanny state, it is good government.
    By the way, during CoVid government should impose a mortgage and rent holiday. We do need financial literacy as part of a general curriculum; we also need a minister for the portfolio.
    As things stand, we do not even have a senior official at the Central Bank responsible for financial literacy, nor do our media think it is important enough to run a regular column on the subject.
    How about a BU financial literacy blog? We can start that today.

  3. @CrusoeMarch 17, 2021 8:13 AM

    Your proposal makes a lot of sense from the point of view of consumer protection.

    However, please bear in mind that the banks already had to suffer a lot as a result of the debt cut, while our population did not make any sacrifices for the national bankruptcy. The banks simply cannot bear a qualified moratorium. Furthermore, once the matter goes to court, it will take at least 20 years for the local sleepyheads to get a first-instance decision.

    At most, a simple moratorium until September is in line with the market. Anyone who cannot pay after that must move out. The beach is a wonderful place to live under the open sky and with palm trees. Instead of a supermarket, there is free love, sea air, bathing fun and coconut milk.

  4. Sir Courtney Blackman died in the USA at the age of 88.

    Condolences to his immediate family, relatives and friends.

    Should we discuss Sir Courtney tenure as Central Bank Governor and his contribution to economic policy?

    • @Artax

      Wasn’t Sir Courtney a creature of the minister like his predecessors and successors?

  5. @ David

    Yes, but, he was the Central Bank’s FIRST Governor, which I believe is much more important than the politics involved, and he should be given some recognition.

    Why not focus on his contributions to the development of the Bank?

    Although some people are of the opinion, for example, the Governor General, Commissioner of Police, etc, are likewise ‘creatures of the government or minister,’ we still recognised the contributions of our first native GG and Police Commissioner and their contributions to the society.

  6. I have heard of instances where banks sell foreclosed properties for way below fair market value as they are only interested in recovering their interest.

    Sometimes I hear about hook-ups.

    Crusoe is correct.

    • @Donna

      There is fair market value and then there is what the market is prepared to pay. The arithmetic suggests a financial institution will want to recover as much of the out of pocket as possible.

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