Henderson Bovell: Bajans must choose between fresh elections or the IMF and DLP – Democratic Labour Party

BLP Henderson Bovell

Editor’s Note: We had a little fun with Henderson Bovell in August of 2012 when we said Henderson Bovell loses memory, maybe his entire mind…, but now we have to admit that Henderson was at least half right – that the DLP government has been and is a disaster for Bajans. Where we differ with Henderson is that he still thinks that the BLP corruption experts are some sort of answer for the current financial woes.

Nevermind all that though: Henderson makes some good points in his latest piece.

Let ‘er rip, Henderson! …

Choose Bajans: Urgent Fresh Elections or an IMF/DLP Programme of austerity and suffering Even Worse Than 1991?

The downgrade by Standard and Poors is proof that, you can hijack the truth – even hold it hostage for a short time (as it is now crystal clear the DLP did before the February 2013 general elections) but “truth” will always escape and expose you, as the DLP is now finding out.

Before the February elections, Barbadians were assured by the same DLP that said that: it will not “cheat;” it will not “steal” and it will not “lie” – that the economy was “stable.” But soon after February, “truth” was able to escape and the country heard “for the first time” (despite an alleged report to the nation during the general election campaign when nothing was said) that the QEH could not pay a multi-million-dollar bill for medicines and that the Transport Board had spent $30 million it did not have and having done that – licked-out an overdraft for a further $10 million. You see part of why Barbados is in serious trouble?

Trademark fiscal recklessness like the Transport Board spending that $40 million it did not have  – will hardly escape the Auditor General but it constitutes the same cost overrun the dems  said will not happen – under a DLP Government?  Do you see why you need to urgently reel-in the DLP and why no patriotic person in Barbados; sensible person within the Caribbean or  respected institutions around the world –  have confidence in the DLP; trust them or want to risk taking them seriously?

The Country was suppose to be “stable” but the Barbados economy is smaller now than in 2008! Stable, but the Foreign Reserves ‘nose-dived:’ from over  $3.7 billion in 2008 to less than $1 billion by September 2013: and the free fall continues! 

The DLP brought policies in the August budget to reverse this trend, yet $400 million in foreign reserves has been lost since June. Clearly, those policies are flawed because the fiscal deficit is $117 million worse than it was in 2012!

So when a budget is presented, policies outlined and then there has to be an adjustment to the adjustment of the policy that was already adjusted – you know confusion when you hear it. Little wonder that the only “certainty” is that the economy is down by 0.7% and predicted to fall by a further 1.1 per cent in 2014.

If you still do not think the time is right to panic – or to put up your economic hurricane shutters – then consider that the VAT was increase by 2.5% from 15% to 17.5% – yet VAT receipts are down by $35 million.

I could probable go on to say that Corporation Tax is down $59 million or that Government’s overall revenue is $140 million less, yet despite this – the DLP continues to spend recklessly, to the extent that it owes over $700 million in arrears – all across Barbados; within the region and internationally. Perhaps then you will begin to better understand  the recent S&P downgrade of Barbados.

The real point in all this is, having said that it is responding to a persistent current account deficit and a high fiscal deficit -the downgrade by S&P is essentially: “a vote of no confidence” in the Government’s fiscal and economic policies –  a portfolio for which Sinckler is responsible.

You must recall that only a few weeks ago, the BLP brought a ‘no confidence motion’ against the Minister of Finance and instead of defending the interest of Barbados – those 15 DLP Parliamentarians in the Lower House – voted that they have full confidence in the Minister. It means that not only the Cabinet of Barbados but all 15 DLP Parliamentarians have already communicated to their respective constituencies – that they accept “full;” “equal” and “total responsibility” for the fiscal and economic direction in which the country is heading. It gets worse: “ALL” of them told you, that the country is and was: “STABLE.” Clearly now, that could not have been the truth! They must therefore be held accountable, especially having promised ‘good governance’ and that they ‘will not lie!’

Moody’s downgrade to “JUNK” and this S&P downgrade, in which they (like consumers and investors) clearly have “no confidence in the policies of the DLP” – suggests to Barbadians, that the way forward is: either, fresh and urgent general elections or an IMF/DLP Programme of austerity and suffering, perhaps one where the pain and human suffering will be even more severe than 1991.

But, why should you suffer when you had absolutely no reason to doubt that the country was other than “stable?” They promised “change” and that they will not “lie.” That they did – is a fundamental breach of truth, justifying fresh and urgent general elections.

People of Barbados, given the continuous decline, your collective call for fresh and urgent general elections is affirmative action by you to  protect your and Barbados’ interest, whereas to do nothing – is to most certainly commit to a DLP/IMF Programme of pain but definitely – to  allow DLP Ministers to safeguard their pension, while you suffer.

Choose one!

9 Comments

Filed under Barbados, Economy, Politics

9 responses to “Henderson Bovell: Bajans must choose between fresh elections or the IMF and DLP – Democratic Labour Party

  1. Anonymous

    Well at last some one is making sense, I have said all along that this Government does not have a clue about what they are doing, and in particular run a Government.
    I have said that they should have been changed by the end of August, but those who could not see voted them back in and not doing anything to save this Country from devastation.
    Take a leave out of St.Lucia’s book, when they did not like what Odlam was doing, they down tools and made him go
    BAJANS the time has come for US TO DO THE SAME.
    If you don’t know what devaluation would mean for us ASK some one who knows…………..Trinis, Jamaicans and Guyanese.

  2. Anonymous

    Mia, make Trotty look bad, get 300.000 to march

  3. I am particularly,extremely,nervous,,,scared sh#@less about the fact that my expected Pension which I have contributed to for 42 years may well now be like Andy Capp when asked for rent,,,retorted,,SPENT!!!!!!!!

  4. dw

    Can anyone advise,,,what is the present NIS situation,,,,,Its like O.K. a lot of people invested in Sagicor,,,,,,well their investments seem to have gone the way of the Dodo bird,,,welll there is still NIS,,,but,,,is there NIS???? or will there be NIS???? are the resources being Picked like a hen in a 4×4 trying to support 12+ chickens ??????

  5. Party Animal

    We now worry about NIS, why does Government go into these funds.
    I said when we went to VAT that the Government would be unable to count the money going into this entity, what happens with this money.
    I would like to know the following: HOW MUCH MONEY IS COLLECTED IN DUTIES, (through Customs) HOW MUCH MONEY IN VAT PER YEAR, if you can’t count per year then give me per month

  6. Party Animal

    I was hoping when Government was going to put our NIS money in Four Season I would have got a room to retire in, for the day they tell me I can’t get a pension I planned to book into the Hotel…they would have to bring BDF and the Task Force to get me out.

  7. just want to know

    Don’t expect the unions to do anything for the workers. Since the DLP is in Government have you seen any unions organising a meeting with the workers informing them of their rights. Look at Sir Roy they left him high & dry out of any discussion with the ILO, what has he done whine like a child whose lolly was taken away. Barbadians workers ( middle class ) are in real trouble when the management of NUPW can ask for us to pay for our children education & health. Shouldn’t the ministers in government & their families be giving up their allowances & travel expenses first; also all union management & their families ?

  8. Sunshine Sunny Shine

    Here is the problem I have: This government do not know what they are doing but the opposition says they are the answer. If one government is accuse of not knowing what they are doing does it make the ” government in waiting” any better who are accused of being crooks, thieves, vagabonds and bullies? Please tell me which is better

  9. Party Animal

    SUNSHINE : We are between a rock and a hard place ??

    There will be no Nativity Scene in Bridgetown this year!

    The Supreme Court has ruled that there cannot be a Nativity Scene on Parliament Hill this Christmas season.

    This is not for any religious reason. They simply have not been able to find Three Wise Men in the Nation’s Capitol.

    A search for a virgin continues.

    There was no problem, however, finding enough asses to fill the stable.