Fri 11th Sep 2020
When it comes to SVG’s public finances, both the ULP and NDP regimes have shown that they are irresponsible and a bunch of dreamers. Both the ULP and NDP regimes have a history of throwing away millions of dollars of taxpayers’ money on useless projects that fail to produce a net return on the money invested.
This wastefulness with SVG’s public finances has had catastrophic consequences for our country. We have had decades of high rates of unemployment, poverty and crime. The ULP and NDP regimes cannot be trusted with taxpayers’ money.
Let’s look first at the financial incompetence of the NDP regime dreamers.
In 1993, millions of dollars was wasted by the NDP regime on the Ottley Hall Marina. This was a failed development project by the NDP regime that turned out to be a financial fiasco and left our country with a debt of hundreds of millions of dollars.
Also in 1993, we saw the NDP regime waste millions of dollars building Bequia airport. This airport has failed to bring in a net income and now lies unused and in an appalling state of disrepair. This airport has cost millions to maintain and will need many millions more to make it operational.
In 1999, the NDP regime wasted tens of millions of dollars building the cruise ship terminal. The income from this project is peanuts and does not cover its running and maintenance costs.
These 3 examples alone clearly illustrate the NDP regime’s financial incompetence, lack of due diligence and why they cannot be trusted with SVG’s public finances.
Let’s look now at the financial incompetence of the ULP regime dreamers.
For decades the ULP regime has pumped tens of millions of dollars into LIAT and there has been no net return. LIAT has now gone bust and millions of dollars of taxpayers’ money have been lost by the ULP regime.
In 2012, the ULP regime wasted tens of millions of dollars building the Belle Isle jail, rather than investing the money into a science and technology university for our children. This jail has not brought any income into our country.
In 2017, the Argyle airport opened and, not surprisingly, this has turned out to be a White Elephant. Even before COVID-19, the airport did not bring a net income into our country and costs more to run and maintain than it makes. It drains money from our country as airlines have to be paid to fly to SVG.
These 3 examples alone clearly illustrate the ULP regime’s financial incompetence, lack of due diligence and why they cannot be trusted with SVG’s public finances.
Both the ULP and NDP regimes are not prudent with SVG’s public finances. They tend to run recklessly head-first into wasting millions of dollars of taxpayers’ money on useless projects, without doing a proper cost-benefit analysis to ascertain whether the project will lead to a sustainable net income for our country.
We cannot afford to have financially-incompetent dreamers in charge of SVG’s public finances. SVG needs a change of government and a Vincentian Minister of Finance who is a university graduate in both Accounts and Finance.
SVG needs a Green government. As SVG Minister of Finance, Warrant Officer Ivan Bertie O’Neal BSc (hons), MSc, MBA would abolish the Mustique Act 2002, cut ties with Taiwan and take back our fish licence. He would open ties with China and adopt structural change, using high quality education and our own science and technology university as the engine for the creation of thousands of new jobs and revenue, and focus on expanding the SVG yearly budget to $4 billion.
According to Warrant Officer Ivan Bertie O’Neal BSc (hons), MSc, MBA, both the ULP and NDP regimes are a bunch of dreamers and financially reckless. They cannot be trusted with SVG taxpayers’ money. A Green government would create prosperity, revenue and thousands of new jobs.