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Save fund for real disaster


Save fund for real disaster

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I AM A BARBADIAN TAXPAYER and I find we tend to sit back and not demand accountability for how our money is being spent or wasted.

Yes, our money, not the Government’s, and I fear I see loopholes being created for these funds to be used to further political aspirations of political parties. I smell a rat. I would love to have heard about these matters on the call-in programmes.

Fast forward now to the SUNDAY SUN of February 28. Here’s your answer: so money is sitting at the National Insurance Scheme (NIS). This is not a tax, it is taxpayers’ money, a fund for disasters. Can the minister confirm that the Government ever contributed its portion? I don’t think so. But now your Government wants to take it out of NIS. And what exactly is going to happen?

Am I to understand that you are suggesting that (we or  you?) “discontinue the fund and hold the money in escrow at the Treasury until Cabinet decides what to do with it”? As the saying goes, a blind man can see through this move.

This is supposed to be a “Catastrophe Fund”. I never agreed that it should be used for house fires but held for the day we have a real disaster – the whole principle of insurance. No, Mr Minister! Even as I feel elections may be around the corner, this is not the right move.

Yes, suspend the collection of contributions if the fund is healthy (just like pension plans may do when in such a position) but the money is there to help the citizens when a real disaster strikes. Not to disappear in housing or other projects as I fear will happen when you “move it”.

I fear a catastrophe is about to befall the Fund. I would love to hear the opinions of others.