Prime Minister deems challenges of Central Bank as prior regime, not just Recession
by AirBourne / May 23rd, 2017
While the world is still recuperating from the fiscal downturn of 2008, Barbados had more to endure than many other places.
Instead of the new Governor spending tax dollars in this extravaganza, wouldn’t it be cheaper to offer 35 to 30 year veterans who are not retiring 2 extra days off? Casual leave? Not to be added to long public holiday weekends? Isn’t that Fiscal Discipline?
This claim of blame game was handed out by Prime Minister Freundel Stuart as he addressed celebrants at the Central Bank’s 45th Anniversary Gala at the Concorde Experience over the weekend.
A lavish affair with at least 40 tables and 10 seatings at each, it tended to contrast sharply with recent calls for Fiscal Discipline by Acting Governor Cleviston Haynes.
Mr Stuart praised the institution for having weathered not just the recent recession but also timing troubles from the introduction of Value Added Tax two decades ago under the reins of then Owen Arthur as leader of this country;-
VAT took effect in Barbados on January 1st 1997 and was modified upwards 13 years later by Christopher Sinckler with a purported review set for May 2012 which never emerged…
If the shots look blurred, that’s because as I started to snap, I was told don’t block patrons – so I sat from my table and shot what you see… Perhaps there should be a site visit for Media shutterbugs before an event, so a compromise can be reached? Oh, this is the Deputy Governor of the Bank of Jamaica making a presentation of a gift, dunno who ended up with the doodad, as I left right after the speeches!
Acting Governor Cleviston Haynes praised the staff and seemed to imply the employees are now performing better with a change of Governor;-
If the CBB is to truly achieve some sort of Rapprochement with the Media for the last 3 years of putting 4th Estate in the desert why not save more money on the 45th Anniversary and just run a quick release and/or Supplementary which the Bank pays all Media houses online or print and thus shows genuine support by financing those who give it free publicity otherwise? Here’s what Sagicor did, everyone saw it in Advocate or Nation, they could have had an online version for BT and yours truly, LOL, but it makes my point…
In May of 2014 there were concerns how the Medium Term Fiscal Strategy could have led to the retrenchment of 60 or more staff members, however it is noted in the current Anniversary some of the awardees were heading home as a result of attrition or simply put, it’s time for retirement…