“Slapped Down With Disdain – What A Humiliating ‘Vote of No-Confidence’ In The DLP!” By Henderson Bovell
I suspect that if the DLP knew it would have been such bad-luck to bring a Mini-Budget on ‘Black Friday,’ resulting in two downgrades in the same week, they would have chosen another day, even though its flawed content would have resulted in the same outcome. But even if Barbados was not in such a serious crisis, it still would be no laughing matter knowing that the DLP is doing the best it is capable of but that effort is way way way below what is required to see Barbados through to brighter days.
Surely by now the DLP gets the message: nobody is listening and those who are – simply do not “trust” or “believe” anything it is saying! In short, the response from those Barbadians who are serious, as well as the action taken by credible international agencies – suggest that this Government is so incompetent and has such a serious credibility and lying problem – that there is no hope for it, since counselling will not help!
Within days of the DLP and its Finance Minister issuing what is essentially, “Cud-dear, we trying” revised Statement of Financial and Economic Proposals or a Mini-Budget – intended to correct the failed August Budget – he was slapped-down with disdain by a Regional Credit Rating Agency. And just when some might have been thinking, ‘don’t mind them man, there are regional and don’t carry any weight,’ International Rating Agency Moody’s downgraded Barbados, again, also!
Based on the Report of the same IMF (with whom the DLP met before its Black Friday announcement) it is now known that at the end of March 2014, the DLP’s deficit will still be some 9.5% of GDP.
In other words, while the DLP is alleging that because of some global financial crisis, the country has declining revenues, (incidentally only Barbados and not Nevis, who recently gave its public servants a raise of pay) the DLP will still spend a whopping +$760 mil. more than it has. One therefore wonder why is it that the unions and the business people who are speaking – seem more concerned about the equivalent and direct correlation in terms of expenditure, as regards a 3% pay cut and the number of workers to be send home (as announced by the DLP) but missed such a critical, frightening and shockingly- alarming statistic, as regards the deficit at the end of this financial years and the implication of that for the economy?
For Barbadians, the DLP’s Black Friday mini-budget will therefore be yet another exercise of: “pain, no gain and all in vain!”
The facts are that the DLP is taking action to fix a problem but having done so, the problem will become much worse than before any action was taken! Essentially, the DLP’s latest recipe for Barbados requires further sacrifice and more unnecessary pain and human suffering but will not result in any gain or change in the already perilous circumstances of the country.
You really have to ask, how serious can the country take the social partnership about anything else when trade unions could say that a financial and economic proposal announced by the country’s Minister of Finance in Parliament – to send home people starting with 3,000 – is only a bluff and a false alarm!
My Fellow Barbadians, you are now seeing and you now know that the “economy” is important, contrary to what the DLP told you! You now know that the country could not have been “stable!” You now know that the DLP does not know what it is doing or how the get the country out of this mess it has created! You now know that there is no hope with the DLP! You now know that even after its Black Friday ‘cud-dear-moment‘ investors; consumers and rating agencies, still do not trust or have confidence in the DLP! You now know that the DLP is the same now, as it was in Opposition, except that it cannot bluff its way as the Government!
The DLP might be able to trick some Bajans and mislead the unions and “those” business people who rely on Government’s Goods and Services Vote but not Rating Agencies, International lenders and investors or the IMF.
Everything has a ‘tipping point!’ This Government is forcing the country into survival mode and the people to engage survival tactics, this cannot be good for any society but it will not take much longer for the people to identify their ‘stressor‘ and the source of their ‘tremendous and unnecessary pain and discomfort!’
All of a sudden, the “union” knows that Barbados needs to be “rescued’” “rebuilt” and “restored!” They did not know that in or before February this year! Barbadians may not be interested, but based on what Forbes and Bloomberg are reporting, the world is watching and taking copious notes of Barbados’ social and economic instability. We are in great danger of becoming a failed society. Not only the DLP will be culpable!
The fewer men, the greater share of honour!