OPPOSITION LEADER OWEN ARTHUR has accused Government of electioneering and ignoring the country’s serious financial position in its latest revision of the Medium-Term Fiscal Strategy (MTFS) 2010-2014.
The MTFS document identifies 2012-2013 as the only period the Freundel Stuart regime would not be implementing an expenditure cut of approximately $75 million, Arthur said.
“The Democratic Labour Party [DLP] intends to depart from fiscal discipline during an election year and not to take Barbados’ interest into account,” Arthur told the SUNDAY SUN.
“This new fiscal strategy is a political strategy. It departs from fiscal discipline in an election year and indulges in heavy spending in the hope that heavy spending would save the Democratic Labour Party,” he added.
According to the new fiscal strategy, Government intends to cut its expenditure before and after the 2012-2013 period.
The next general election is constitutionally due by April 2013.
“This new fiscal strategy is not based upon the economic circumstances or the financial circumstances. It is driven entirely by politics,” Arthur charged.
The Opposition Leader also chided Government for its failing to have the Constituency Councils comply with the financial requirements facing various institutions.
Arthur said: “. . . The most recent Auditor General’s Report indicates that the agencies where they [Government] intend to splurge, like the Constituency Councils, have not presented any financial statements or any audited reports.
“And therefore the country cannot give the Democratic Labour Party a blank cheque to spend in election year when the institutions through which they want to spend are not financially responsible,” he added.
Arthur questioned why Government had revised its policy which was to reach a balanced budget by 2014 and is now proposing to reach its target by 2016-2017.
