I suspect that if the DLP knew it would have been such bad-luck to bring a Mini-Budget on ‘,’ 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 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!
There is a Bajan saying: “You cannot teach an old dog new tricks!” The DLP’s continued failure, proves that correct!
Within days of the DLP and its Finance Minister issuing what is essentially, “” 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!
This has to be the ultimate ‘vote of no-confidence‘ in a Government and its Minister of Finance – that within a week (a mere seven days) of he having announced financial and economic proposals, which both he and his Government caused the unions and some business people to believe would solve the perilous crisis they have put Barbados in – Rating Agencies (essentially) signalled to the world that the announced corrective action is a mere gimmick and political stunt.
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 onlyandnot , 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 ) 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!
Why are Barbadians hoping for a different result, from the same DLP that has been getting it wrong, consistently, since January 15th 2008? What will it take before the country says, “enough,” a devaluation? On its current destruction path, that seems to be the ‘final destination,’ after the next downgrade that will come soon!
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.
Giving the impression that sending home 3,000 plus or an alternative of a 3% pay cut – will solve the crisis it created (and getting leaders to believe that crap) – is an unpatriotic distraction tactic to avoid accepting responsibility for its reckless mismanagement of the Barbados Economy. Even more unforgiving, is the DLP seeking to convey to Public Servants that a 3% pay cut is the solution to a billion-dollar expenditure problem. To their credit, of 10,000 Public officers, the DLP is obviously not fooling 9,800 because only 200 turned up the meeting. There is a serious message here and the NUPW will eventually get it!
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!’
Henderson N. Bovell is a former Chair of the National Assistance Board; Mr Bovell is also a noted social commentator and contributor to Radio Call-In programmes
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!
Given the high esteem, which Barbados was recently held in the International Community, and given the role it is expected to play within the CSME and given that not long ago – Barbados was a model country, enjoying the distinction of being the “#1 developing country in the world” – the perilous crisis which the DLP has created for Barbados, requires urgent action in the national interest. This is so important to Barbados’ survival that (with people already starving, based on reports from churches) the person/s who act/s to rescue Barbados, should immediately be conferred with high national honour and the title: “saviour of Barbados,” especially in circumstances where a Cabinet Minister (who is privy to the secrets and secret discussions of Cabinet) has hinted at cracking skulls and shooting people!
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