Fri 20th Jul 2018
Many more multiplier variables urgently needed to boost economic growth in SVG
Warrant Officer Ivan O’Neal strongly believes that SVG’s stagnant economy urgently needs many more multiplier variables to boost economic growth and create surplus revenue, to increase the circulation of money in the SVG economy. This will create wealth and large scale employment.
Warrant Officer Ivan O’Neal, who has a BSc (hons) in Accounting and Finance and Economics from Brookes University, Oxford, England, also believes that the ULP Regime is an utter waste of space and time. They are spinning tap in mud.
They are highly unqualified in Financial Management and use a scatter gun approach to the SVG stagnant Economy with negative consequences. They perpetuate poverty, large-scale squalor and unemployment in SVG. The bottom line is that the ULP Regime cannot generate surplus revenue and economic growth to move SVG forward.
Gross Mismanagement of the SVG economy by the ULP Regime is the major factor causing the economy to stagnate. For instance:
1. the Dirty Dog Taiwan with Fish Tax Avoidance of about EC$3 billion dollars annually is a major destroyer of the SVG economy.
2. the Super-rich White Migrants Enclave in Mustique, operating as a state within a state, is a major destroyer of the SVG Economy.
3. Having unqualified and grossly incompetent Ministers of Finance from 2001 to 2018 is a major destroyer of the SVG Economy.
4. Poor quality education is a major weakness in economic development in SVG.
5. foolishly focusing on Tourism as the Engine of SVG Economy is a misfit for the SVG Dead Economy.
Major Economic Multiplier Variables with the inherent capacity to boost economic growth in SVG are needed, such as:
1. Exporting excess clean drinking water is an excellent Economic Multiplier for SVG. Singapore buys all its drinking water from Malaysia. SVG should export millions of gallons of drinking water in tankers.
2. Having a low tax regime will be a major economic multiplier for SVG. Singapore has a very low tax Regime which is a big plus for the Singapore economy.
3. Having our own science and Technology University is a major Economic Multiplier for SVG. This will help create a knowledge-based economy.
4. Using renewable energy such as Hydro, Wind and Solar is a major Economic multiplier for SVG.
5. Vision coupled with top class competence in Financial Management under the leadership of Warrant Officer Ivan O’Neal BSc (hons), MSc, MBA would be a significant component for moving SVG forward.
6. An Agricultural division of the SVG Economy in which we eat what we grow and we grow what we eat and an agro processing factory and import substitution.
7. Cut ties with Taiwan and build our own Fishing industry and fish canning plant.
The ULP Regime has shown it is hopeless and useless in structuring and building an Economic Model that is tailor-made to drive Prosperity for all who live in SVG.
Warrant Officer Ivan O’Neal BSc (hons), MSc, MBA, who has an MSc in Macro-Economic Policy and Planning in Developing Countries from the University of Bradford, England, strongly contends that governments since 1979 have not structured the SVG Economy fully utilizing SVG’s inherent resources.