Fri 24th Jul 2020
The ULP Regime’s foolish priority of building a big jail in North Leeward was catastrophic and highly counterproductive, in that, the opportunity cost of the new big jail had a negative impact of Fiscal Deficits on the SVG Economy. SVG has become a country of Fiscal Deficits, continually digging a hole to fill a hole, by borrowing large sums of money to pay Public Debt.
For their 19 years in office, the grossly incompetent ULP Regime has not been able to create a Fiscal Surplus for one year.
The hopeless ULP Regime is making nil progress in SVG. There is no manufacturing sector in SVG, We have over ten thousand square miles of sea and yet there is no fish industry in SVG to create high paid employment and a strong steam of revenue into the SVG Treasury.
The condition of roads in SVG is deplorable. Is the Ministry of Transport, Works, Urban Development and Local Government permanently closed or closed for repair. Are road repairs no longer seen as the duty of the incompetent government? When the roads are terrible, the country wastes millions of dollars on imported parts for Motor Vehicles.
The blind is leading the blind in SVG - going nowhere and making no progress. Not enough money is going into the treasury to create a Fiscal Surplus to push wealth creation. The consequence is nil economic growth, no new job creation and no circulation of money in the country.
According to Warrant Officer Ivan Bertie O’Neal, who has a BSc (hons) degree in Accounting and Finance and Economics from Oxford Brookes University, England, an MBA from the University of Leicester, England, and a Masters of Science degree in Macro Economic Policy and Planning in Developing Countries from University of Bradford, England, the ULP Regime is taking our country backwards.
The instability and volatility caused by the ULP regime’s financial incompetence puts off foreign investors from investing in our country. Research has shown that macro-economic instability and corruption have a negative effect on foreign investment.
The lack of foreign investment in SVG means that fewer jobs are created in our country. The ULP regime’s financial incompetence is inhibiting jobs being created for our people and investment in our economy.
An analysis by the World Bank highlights the reasons for Haiti poverty as being no or low incomes, poor access to credit, low educational levels, inequality of access to inputs — water, electricity, good land — and economic decline. They may as well have been talking about SVG!
A once glorious nation, our country has fallen to ruin under the incompetent ULP regime. Yes, officially, Haiti is the poorest country in the Western Hemisphere, but seeing all the filth, squalor, poverty, hardship, unemployment, crime and begging in our coutry, it is clear that SVG is a close second.
A Green government will focus on job creation and revenue creation. We will create jobs and boost the economy by investing heavily in innovation, a university, Green industries, entrepreneurship and small businesses.
SVG needs a change of government. The longer we have a government that is virtually broke, the longer our people will have to suffer. The lack of financial competence is the core problem that is choking the SVG economy.