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BUDGET 2009 LIVE-BLOG: Best of times, worst of times

Prime Minister David Thompson (FP)

Published on: 5/18/2009.
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The 2009 Budget and Financial Statement has just begun.

Prime Minister David Thompson, in his introduction, referenced Charles Dickens' famous 'A Tale of Two Cities' in speaking of the present global financial environment, calling it the 'best of times' and the 'worst of times'.

Thompson pointed out that the majority of Barbadians would not have lived through a global economic crisis of such proportions and that even for policy makers, decisions have to made "not having an idea of how long or how severe" this crisis will be.

He has called the crisis "an economic virus, similar in nature to the H1N1 virus" (swine flu) in its pervasiveness and global spread.

Hence, he has indicated that his Democratic Labour Party has decided to take "the road less travelled" in formulating this year's budget.

Thompson made what could be termed a reach across the aisle in calling for co-operation, noting that in the United States, President Barack Obama's task has been made easier by the assistance and co-opeation of his former Republican rival, John McCain.

"There comes a time in the life of a leader... where and when the national good must supercede all consideration and I submit that now is the time for that maturity and awareness to manifest itself," stated the Prime Minister.

He has also expressed confidence that Barbadians "know and understand the environment and the limitations in which we operate."

"We are confident that our people will not expect us to do more than we can reasonbly give. The national cake has gotten no bigger. To lengthen the top we are forced to shorten the bottom. To protect the weak and vulnerable we are forced sometimes to take from the better off. In the end there is one Barbados."

Continue reading NATIONnews.com for more of our Budget 2009 live blog.

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