2013 Quarterly Review is on Wed. 10th, what will Dr Worrell say?
It will be interesting to see if Dr Worrell is indeed present at Wednesday’s Economic Review or call in sick at the last minute, because in previous sessions he made what is considered by many as opposing or contradictory statements to what is currently unfolding… If one tracks on the Central Bank’s youtube channel or their website, you will see that on many occasions he’s reiterated how ForEx reserves are adequate and how Barbados is on target for its Medium Term Fiscal Strategy, based on the recent Consultation at the Hilton? Nothing of the sort is the reality!
We’re staring at a possible pay-cut for Civil Service a la 1991’s 8% reduction; if the Stuart regime is to attempt to keep their promise of no cutting of Public Sector staff. They need money quick – logically, despite campaign pledges in February, they may have to relinquish Transport Board (This may be a good thing – the staff may actually work then and be a better service than ZR’s) or the Water Authority (I think this should be kept, at least until 2 other companies providing water are allowed in to diversify that market), like I say? I feel sorry for the old lady in the DLP commercial if she looking to get free rides as a pensioner – maybe the new company will keep that allowance?
Frighteningly enough there are suggestions that rather than go these routes, Fumble may decide to jump Road Tax to $650 BBD per year (I will drive illegally at that point, utter insanity – why don’t MP’s take a pay cut and turn in their BMW or whatever they waste petrol in?) and even more scary? The possibility of a 20% VAT where the Gov’t of the day may find it is 1937 all over again and have to pull a Duvalier and flee Barbados…
Meanwhile, what about the new bills? Is the paper to float a currency which is at the verge of devaluation? Will they do what no other leader has ever done in Barbados before? People say it is NOT an option, but there is also a popular Bajan aphorism about goat feces rolling uphill – meaning when the impossible occurs, don’t be surprised if it is helped along even against good advice!