“Staggering debt” didn’t happen overnight
Pardon our cynicism, but we are headed into an election campaign in the next few weeks, aren’t we?
Promises fell like raindrops as Prime Minister Stuart and Finance Minister Sinckler assured SIR Hilary Beckles that the government will somehow shove some money to the UWI to stave off the creditors.
Free education is not so free, doan ya know?
A hundred million here, three hundred million there, seventy million over there… pretty soon you be talkin’ real money!
Further Reading
Dear readers: please go to the website of The Nation to read A hand for UWI – but you know we have to reprint the entire article here because The Nation has deleted and changed stories in the past to suit political agendas, and seeing as how our story is based upon their story, we have to reprint the whole thing…
A Hand for UWI
GOVERNMENT, with Prime MINISTER Freundel Stuart and Minister of Finance Chris Sinckler at the forefront, is coming to the rescue of the cash-strapped University of the West Indies (UWI).
Principal and Pro Vice-Chancellor Sir Hilary Beckles said he had met over the last few days with Stuart and Sinckler, and they had given the assurance that Government would be coming to the aid of the university that has a staggering debt surpassing its operational costs.
Speaking yesterday evening at a matriculation ceremony at the Roy Marshall Teaching Complex to launch the new semester, Sir Hilary said Government had made a commitment to the university to which it owes $150 million.
“[Stuart and Sinckler] have given us assurances and they have made commitments to us that we must enter into this semester with confidence and courage, because arrangements are being put in place to ensure that this campus and university are financially alleviated in the next few weeks and in the next few months.
The money will come from the same place they get the Four Seasons money, NIS!! God help us when we retire. If they carry on at this rate, there be no pension for us when we retire!!
@BajanGal
Retire? ha ha Don’t fool yourself… The ‘retirement’ age is heading to 70… how many of us will get that far or even if we do, live very long to enjoy it? this thing is very well planned I must say… wouldn’t surprise me if thy moved it eventually to 75 or even 80 years AND increased the mount you have to pay… which BY LAW you can’t get out of. We’re being swindled and it’s perfectly legal.. sweet…
@wstraughn
Maybe they’re getting their advice from Parris
but we are headed into an election campaign in the next few weeks, aren’t we?
No
“(Stuart and Sinckler) have given us assurances”…….aren’t these the same two that gave verbal assurances to Red Jet? Remember the assurance given BUT after a meeting on Alexander then to be told “I’ve gone past that a long time ago?”
Good luck to you Sir Hilary.
To what will they think of next…
Okay, so we’ll change it to “but we are headed into an election campaign in the next few MONTHS, aren’t we?”
Did not the same Stuart and Sinckler promise that Barrack would have been paid everysince too? Same way how they promised that CLICO investors would have been repiad in April, then June?
…..and Four Seasons would have started back….
@ Peltdownman September 1, 2012 at 10:39 am
“Maybe they’re getting their advice from Parris”
So why do you think the Ponzi specialist is engaged by this administration as a consultant to provide advice in this ‘specialised’ area and to design solutions to the CLICO imbroglio?
I have a feeling the days of FREE university education are going to be days of the past.
They should spend the money on improving education at primary and secondary levels so that we see a halt to this trend of the past 10-15 years where people are graduating from university but cannot write or speak correct English.
let university education continue to be free, but charge for secondary education.
Where are the supposed graduates of each household going to find jobs.? This is pie in the sky thinking by Dr Beckles.
@BajanGal
Good thought, however NIS funds are already depleted to the extent that $150M is out of the question. Four Seasons and backing other un-necessary offshore loans has more importance than UWI obligations, go figure.
Barbados has to give up the idea of FREE EDUCATION as it’s counter productive for two reasons.
1. A high proportion of highly educated in a small country is not workable, over educated and NO JOBS.
2. Giving FREE EDUCATION through university does not instill in the educated any work ethics. Everywhere in Barbados I hear the expression, he/she has a BIG JOB, too bad that everyone has a BIG JOB and there is no one doing the small jobs, other than the Chinese, Guyanese etc. which are always being complained about as taking all the local jobs.
yes the ppl who usually think ending free education is a good idea is de same ppl dat done study and dem children done get it
bad mindedness
I agree with Wily Coyote and “The Same the World Over” and I was actually approached by a young Supervisor on it at Carlton Supermarket when I gave that answer (we may have to relinquish Free Education) you’d swear by how he looked at me that I just declared – Lucifer, Son Of The Morning Star – as my one true Saviour and the youngster vowed he’d send me an editorial against just that; but I am still awaiting the item…
UWi has to share a lot of blame for this. Look at the rapid infrastructural development: Beckles was spending as he like and Owen Arthur was giving him. Them easy money days gone. The economy can’t finance keep financing the hole Beckles been digging. Free education has been used as guise to support bloated salaries and swandermania. It has to come to an end some time.
I see alot of new buildings, did the money go there? many of the Ministers seem to gain a lot of weight , did the money go there? Offshore Banking ?
Well from the PM down is a crook so an Audit need to be done.