Right path

(DEM HAVING FUN: DLP supporters at last night’s meeting held at the St Leonard’s Boys’ Secondary School.)

By MIKE KING | Mon, December 03, 2012 - 12:10 AM

STRESSING that “the best steel goes through the hottest fire”, Minister of Finance and Economic Affairs Chris Sinckler said his Government’s economic policies over the last four years would lead to national prosperity.

He made the forecast last night in the auditorium of St Leonard’s Secondary Boys’ School in Richmond Gap.

Sinckler told the gathering that Democratic Labour Party (DLP) Governments had a record of handling crises with poise, dignity, knowledge and understanding.

“They call us the Government of recessions. We don’t create recessions. We are called upon to manage them and we have done so well and others have come along at the back end and got the benefit of it.

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Posted by Carl Harper 5 months, 2 weeks ago: "...Chris Sinckler said his Government’s economic policies over the last four years would lead to national prosperity....We don’t create recessions." What baloney! Such propaganda diet will only be swallowed by yardfowls.

Barbados plunged into its worst ECONOMIC CRISIS 1991-94 primarily because of a 1986 DLP elections gimmick of $15,000 tax credit that the country was unable to handle at the time. It resulted in us entangled in the clutches of the IMF for three years, and the Central Bank with mere couple weeks of foreign reserves on hand, and massive unemployment peaking at 24 percent.

Now 2008-12 we are experiencing a FISCAL CRISIS created as a result of vindictive and ill-conceived policies introduced in that first Budget that have led to declining performance in every key sector of our economy.

Barbados, for the first time, has been reduced to junk status by Standard & Poor's. Government is borrowing $40 million monthly to pay salaries and wages, and indebted to UWI to the tune of $200 million. Over 30 accommodations have closed their doors, and international business companies are fleeing our shores. Public workers have not received a salary increase in the past five years, as everyone buckles under the strain of out-of-control cost of living.

Bajans are crying out over high electricity bills, fueled by 17.5% VAT. Water rates increased by 60%, and road tax almost doubled.

While the DLP boasts of surplus foreign reserves and huge profits at Barbados National Oil Terminal, the fear of the early 1990s has paralysed this government into inaction and policies of high taxation.

Mr Sinckler, we don't need a steel industry in Barbados to know how hot the fire really is. It scortches us, everyday.

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Posted by Olutoye WALROND 5 months, 2 weeks ago: On reflection I wonder if Chris Sinckler might want to retract the statement he makes in the last paragraph above.

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Posted by John Da Silva 5 months, 2 weeks ago: We must be the strongest steel, for God knows we have gone through some serious fire these past four years.

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Posted by Bajan Fishermen 5 months, 2 weeks ago: Yes Mr. Sinckler is correct that Barbados is on the right path. BUT IT IS ON THE RIGHT PATH TO ECONOMIC DESTRUCTION. A drowning man clutches at straws, but if the steel that Sinckler talks about is what this administration economic policies is made of, then we can see why our bonds are now junk status.
If he were in the construction trade, the buildings made by them would be collapsing all around, as our economy is.

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Posted by Bim Bum 5 months, 2 weeks ago: AND I'm impressed with road works the Dems have been doing.
To wit, the connection between Warrens East roundabout towards Jackson, plus the new roundabout about 300 yds North....

AND the expansion of the hiway running North from Simpson Motors to Redmans Village, including another new and necessary roundabout at Welches/Automotive Art!
Well done and THANK YOU:
-please continue the road works.

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Posted by D. Stoute 5 months, 2 weeks ago: The whole world has gone through hell in the last four years. What makes you people think that Barbados was going to get by unscathed? If we here in America are smelling hell, are you somehow going to escape the flames?

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Posted by Kay-rani Rosita 5 months, 2 weeks ago: @Carl Harper
Yardfowls? How insulting!
Are your comments fair or are they politically motivated?
I would not be surprise if you a BLP voter.