Open Letter to Christopher Sinckler – Barbadian Minister of Finance & Economic Affairs: URGENT!
Dear Mr Sinckler;
In the past Bajan Reporter has been known to lampoon decisions or policies as promulgated either by yourself or your station, in this case what I put forward is completely serious and if you truly love Barbados then you will do the right thing based on the facts I put forward for your urgent consideration?
Since assuming this crucial Cabinet posting shortly before the passing of P.M. David Thompson on 23rd October 2010, the following directives have come to life under your (sic) stewardship…
- Value Added Tax (VAT) has moved from 15% to 17.5% and drew less monies than when it was 15% as Bajans spent less, you also pledged to review it in 18 months to either discontinue or otherwise amend and this never arose?
- The average Barbadian who seeks a better life as a certified UWI student now has to pull Equity or other financing since tertiary tuition at the Cave Hill Campus requires a fee, which the Rt. Excellent Errol Walton Barrow never slumbered on, not even in his wildest Freddie Kruger’s! Enrollment at UWI’s Cave Hill Campus has dived by at least 50% and still no word how many bursaries were created out of the 22.5% VAT for data usage on mobile calls which Digicel will no longer absorb by the end of this month?
- Mortgages, Registered Retirement Savings Plans (RRSP) and Credit Union membership are no longer allowed to be claimed as a deductible on filing for Income Tax.
- A 2.5% Levy supposedly separate from VAT is to be placed on consumable goods, which led to initial confusion as to what was left in “The Basket Of Goods” which was allegedly immune to VAT.
- The Medium Term Fiscal Strategy as promoted by yourself and Dr DeLisle Worrell of the Central Bank has not sent Barbados beyond single-digit growth in its flagging economy in the six years of your
- The same Governor of the Central Bank is given free reign to act as an Unappointed Cabinet Minister declaring policy, and denying media the right to actively question discrepancies in ForEx Reserves and other fiscal crises, the website which reflects the place where he’s employed has had gaping chunks ripped from it and you do nothing to yank a leash or exert control?
- Rather than flourish under your Ministry, Mr Sinckler, Barbados has not had one but numerous downgrades from Moody’s, Standard & Poor’s and other reputable financial institutions – yet even when their assessment was queried and opportunity arose for a potential retraction you refused to step to the plate… This is apart from the fact neither Public nor Private Sector have had any significant raise of wages from 2009 despite a whole new plethora of taxation from your ambit?
Therefore, since Barbadian spending power has been reduced this means a Devaluation has already occurred and has been in effect annually since 2010? At no point have the reins of the Finance Ministry been under anyone else’s control, correct?
You also stated in the House Of Assembly if Bajan currency is devalued under your watch you would … “QUIT“, I believe is the exact term?
Mr Christopher Sinckler, please demit office forthwith before Barbadian currency is any further devalued! Honestly, in my view, you should be arrested for Treason! Plus any other Cabinet member who aided and abetted by remaining silent in your slaughter and butchery of the Finance Ministry…