Fri 28th Nov 2008

2009 Budget Estimates driven by ULP begging bowl

We can only expect more gloom and doom in 2009 under this economically incompetent ULP. The Leader of SVG Green Party, Ivan O'Neal, has a BSc honours degree in Finance, a Masters degree in Budgeting and Macro Economics and an MBA in Financial Strategy from UK universities. He has been keeping a close eye on the ULP regime budget estimates since 2001 and predicts that the ULP regime 2009 budget estimates will carry the same pattern of a begging bowl strategy - providing no economic stimulus for jobs or to help businesses.

The ULP budget estimates always under estimate current revenue and over estimate total expenditure. This results in a large deficit in the overall balance. The foundation of this strategy shows that the Minister of Finance lacks the economic ability to manage without grants.

The ULP uses fiscal deficit strategy deviously in begging for debt forgiveness from the UK government. The downside of this deficit approach is most harmful, as the ULP regime become locked into the begging bowl syndrome and overtaxing Vincentians with taxes such as VAT. They show no concern for struggling businesses, the poor and the unemployed with this strategy.

The implication of this deficit strategy is that our economy gets weaker daily and we see an increase in unemployment, poverty and crime. Rather than being creative and confronting challenges, the ULP take the lazy, unintelligent route of begging. SVG will become a land of deficit under this deficit strategy. You reap what you sow, and the ULP only sows deficit.

Under the deficit strategy, the ULP try to fool the private sector there will be much investment in the country, but this is never the case. The ULP regime purposefully manipulates the Budget Estimates to try to fool the nation. This sinister method of budget misrepresentation has been employed for the past 7 years to the detriment of the SVG economy which is in crisis and can collapse. It was announced this week that tourism and agriculture are in serious trouble.

We must discard the ULP deficit strategy if we are to survive the present global economic meltdown. It is clear from the level of crime and poverty in SVG that the ULP regime has been a colossal failure in managing our economy. We are equally alarmed that the NDP has not used the initiative to table a no confidence vote against the ULP government in parliament.

An SVG Green Party government will introduce a winning strategy of budgeting for a surplus. This will build economic stability, a sustainable economy and create thousands of badly needed new jobs. Green surplus budgeting is necessary if we are to survive the present global economic meltdown. People deserve more money in their pocket and more opportunities to improve their life. A Green government will improve your life with positive economics - production not begging!

You have to ask yourselves, are you better off and richer than you were 7 years ago? Do you wake up with no money worries? If the answer is no, then it's clear that the ULP regime has failed you and your family and they must be voted out of office.

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