Independent Senator Monique Taitt. (FILE)
Independent senator Monique Taitt has lambasted the Mia Mottley administration for not being as caring as it has projected to be before, and since taking office.
Taitt, an attorney-at-law, and daughter of former president of the Senate, Brandford Taitt, made the claim in the Upper House on Wednesday, where she was heavily critical of a Government decision which would force pensioners to wait another 15 years to earn investment on financial instruments.
“There is something fundamentally wrong with adding 15 years to an instrument invested in by someone who is 85-years-old or even 65-years-old. That confuses me,” Taitt told the Chamber. “This will have an impact on so many of us. It’s just a matter of when,” she added while debating the Debt Holder (Approval of Debt Restructuring Bill) 2018.
She said Government should completely review the legislation, since it would have such a profound effect on many Barbadians.
“We have been told we are on the precipice of economic collapse, and that the previous administration engaged in arrogance and hubris. But we have a caring Government now, who proposed to impose this legislation without engaging the debt holders in a meaningful way,” Taitt claimed.
The senator said Government had suggested there was no money in its coffers so the legislation was necessary, yet persons have been retained as advisors, consultants and more ministers, all who have to be paid.
“It confuses me that pensioners, some of whom might have put their money in expecting to get a quick turn-over, have to now wait for 15 years.”
She said the current Government did not start making plans for its mode of governance in May of 2018.
“This Government had been planning for a while to become the government, so all of this should have been considered. There should have been better arrangements made for pensioners.”
“Is it right to convert a current liability debt to a long term liability of 15 years with interest and principal repayment being amortised?” Taitt asked. (BA)