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Fri 26th May 2017

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SVG Budget Estimates suppressed under Gonsalves

According Warrant Officer Ivan O’Neal BSc (hons) MSc, MBA, under Gonsalves, the SVG Budget Estimates have been kept deliberately low, because Taiwan gets away with not paying about EC$1.7 billion in fish tax and the white, super-rich migrants in Mustique and Canouan get away with not paying about EC$500 million in tax and customs duties.

A total of about EC$2.2 billion a year is sucked out of the SVG economy with the tax exemptions given to Taiwan and the white, super-rich migrants in Mustique and Canouan by the ULP regime. The consequences for our economy and our people are terrible. It is a crime against society.

SVG Green Party calls for the Taiwan Ambassador and the white, super-rich migrants in Mustique and Canouan to be expelled from SVG soonest, for not paying their tax and customs duty.

Table 1 shows that, under Gonsalves, the government has been starved of revenue and has accumulated a massive deficit of EC$3.659 billion over the period of 2001 to 2017. Government spending on the people’s needs has been far too little and thousands of households have been pinned down in poverty and squalor for many generations.

Table 1
SVG Budget Estimates without taxing
Taiwan and super-rich foreigners

20170526thenewstable1

(Source: SVG Budget Estimates –
Researched by Ivan O’Neal BSc (Hons) MSc, MBA)


This policy is naked oppression, since it is deliberately designed to choke the SVG economy, push up the unemployment rate and increase taxes on the local population. It has suppressed the opportunities of Vincentian children.

Table 2 shows what the SVG Budget Estimates could have been like if there had been no tax exemptions given to Taiwan and the white, super-rich migrants in Mustique and Canouan, and instead the tax collected and credited as revenue for the SVG Treasury.


Table 2
SVG Budget Estimates with taxing
Taiwan and super-rich foreigners

20170526thenewstable2

 

There would have been no need for the government to borrow money and waste money paying interest on loans. The government would have had substantial fiscal surpluses and been able to build factories, create thousands of new jobs, and build preschools, schools and our own science and technology university.

The government could have built high-quality hospitals in Union Island and SVG and created a health system free for all. Water and electricity could have been cheap, or even free, for poor households and no child would be going hungry.

The economic strategy of keeping the government’s income low, stifles the development of our country and people. The economic analysis shows that government should expel the Taiwan Ambassador and the white, super-rich migrants in Mustique and Canouan.

Our country is being sabotaged. Taiwan and the white, super-rich migrants in Mustique and Canouan must pay tax or be expelled from SVG.

SVG needs bigger government budgets. Rather than have a massive deficit of EC$3.659 billion over the period of 2001 to 2017, the government could have had a massive fiscal surplus of EC$33.805 billion. The government could then cater for Vincentians’ needs properly.

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