Articles

Fri 9th Feb 2018

SVG Minister of Finance Camillo Gonsalves should resign

Camillo Gonsalves is not a university graduate in Accounting or Finance and his appointment as the SVG Minister of Finance is a gross insult to our country and people. When it comes to Ministers of Finance, SVG is now out of the frying pan and into the fire.

Gonsalves should never have been appointed as the SVG Minister of Finance. The recent Budget Estimates and budget debate clearly show that he is out of his depth. The budget is just the same old crap we have been hearing since 2001, i.e. a strategy for oppressing the indigenous black population in order to subsidise the lifestyle of the super-rich, white migrants of Mustique and Canouan.

Gonsalves failed to announce in the budget any cash cows or new productive sectors to generate revenue for the country and to create mass employment for our people. Our country will continue to be poor and have high unemployment.

Gonsalves failed to announce in the budget any clear plans to attract foreign investment in to SVG. We need foreign investment to help create jobs. SVG ranks very low in the World Bank’s ‘Ease of Doing Business’ rankings. This puts off foreign investors, but Gonsalves seems to have no plan to change this.

Gonsalves failed to announce in the budget any plans to stop corruption. There have been a number of instances of public funds being stolen whilst the ULP has been in government, yet no plans to stop this. If Camillo Gonsalves was a university graduate in Accounting or Finance, he would have the knowledge needed to put in place the appropriate effective accounting mechanisms to prevent public funds from being stolen. Preventing public funds from being stolen should be a high priority.

Gonsalves failed to announce in the budget any clear plans about clearing the government’s debt. Our country has a substantial amount of debt and this is hurting our people. According to Warrant Officer Ivan O’Neal, begging for debt relief is a clear indicator of financial incompetence and lack of accounting knowledge.

Gonsalves failed to announce in the budget any plans to abolish the tax exemptions given to Taiwan and the super-rich, white migrants in Mustique and Canouan, which amounts to about a EC$3 billion loss to our country annually. These are the main ‘tax delinquents’; chase them!

According to Ivan O’Neal, who has a BSc (hons) degree in Accounting and Finance and Economics from Oxford Brookes University, England, an MSc degree in Macro-Economic Policy and Planning in Developing Countries from Bradford University, England and a Masters in Business Administration from the University of Leicester, England, the budget shows that Gonsalves is highly incompetent as the SVG Minister of Finance and he should resign as the SVG Minister of Finance.

We can expect SVG to fall into much deeper poverty and destitution with Gonsalves as the SVG Minister of Finance.

The Ministry of Finance is partly about marketing: marketing to the outside world and potential donors and investors. However, Gonsalves’ grasp of economics matters is said to be wanting. You just need to listen to him talk about economic issues to appreciate this. This is the minister who is supposed to talk to potential investors.

This nepotism is bad for our country.

For the sake of our people and country, the Leader of SVG Green Party, Warrant Officer Ivan O’Neal BSc (hons) MSc, MBA, is making a very strong call on Camillo Gonsalves to resign as the SVG Minister of Finance.

< Back to Articles