UPDATED: November 9, 2010
The next time we have an election, I’d like to ask each BLP candidate if they, or any of their family members or friends, have a direct or indirect interest in any of the following companies…
ABC Project Corporation
Barbados Correction Corporation
Whitepark Development Ltd.
Hey… we’re only asking!
Feel free to add your comments and expand the list.
Original article published on October 3, 2007…
Total Barbados Debt Owed Or Guaranteed Exceeds 90% Of GDP!!!
What would you call parents who borrow money that their children – not the parents – will have to repay when they reach adulthood? Especially if the money was borrowed for depreciating assets like a fancy new BMW car or even to host a fabulous cricket party the likes of which will never be seen again?
When you are the government, you have two major options: a/ spend only what revenues you have, or b/ spend more than you have while unloading the increasing debt onto future generations of citizens and politicians.
The current government of Barbados continues to borrow and spend, spend and borrow even though they have already taken our national debt and indebtedness into the stratosphere. Even worse, our leaders have been creatively hiding debts and delaying payments so much so that many of our debts will not even become known to citizens until the current crop of politicians are safely sipping champagne at their new Swiss retirement homes.
New Companies Spring Up In The Middle Of The Night
As Patrick Hoyos points out in his article The Barbados government’s total guaranteed debt doubles in just two years much of our country’s debts are mysteriously owed to companies that spring up in the middle of the night. Companies whose sole purpose is to be paid vast sums of tax dollars far into the future.
Just don’t ask how much your children will have to pay, or what the interest rate is, or what Barbados received for the money, or how much of the money is being kicked back to companies where politicians or their families have an interest.
That’s all secret.
New Corporations That Bajans Owe Money To
Did you ever hear of the “ABC Project Corporation” ?
Nope, me neither – until I read Patrick Hoyos’ article. That’s the name of the corporation that we owe money to for the highways and flyovers for the next 25 years. Do you wonder who owns that corporation or will be receiving payments from that corporation?
Yup… I wonder too.
But it is all secret.
Then there is the new prison at Dodds. Apparently, we are going to be paying our tax dollars to a company called Barbados Correction Corporation which is supposedly wholly owned by the corrupt oil company VECO. I say “supposedly wholly owned” because the whole deal is a secret.
Your Tax Dollars – The Politicians’ Secrets
Did you ever hear about Whitepark Development Ltd., the company that your children will owe money to for the new judicial centre for the next 25 years?
No, you can’t know the price, how much they will owe, what the interest is, who owns the company or which politicians are receiving payments from this company for “consulting”. Such payments to be made directly into the old Swiss bank accounts, of course.
None of your business how much or who is involved. Just be sure that you and your children pay up.
Its all a secret, you know!