St. Lucia's Opposition Leader called the estimates for 2020/2021 expenditure and revenue unrealistic
CASTRIES, St Lucia, (CNG Business) – Leader of the Opposition and the Saint Lucia Labour Party (SLP) Philip J Pierre in his rebuttal to the estimates of revenue and expenditure for 2021/22, as tabled by the Minister for Finance, Allen Chastanet, termed the document “unrealistic.”
Pierre directed his attention to Saint Lucia's debt to GDP at 102 per cent, the Caribbean Development Bank (CDB) report and the government's excessive borrowing with little to show. Meanwhile, the people of Saint Lucia struggling amid COVID-19 with the worse record among members of the Organisation of the Eastern Caribbean, (OECS).
Opposition Leader Pierre lamented that the estimates of revenue and expenditure for the financial year 2021- 2022 'is out of touch with the realities plaguing Saint Lucians,' and 'the fact that people are desperate and in need of a caring government that will put their needs first .'
Moreover, the social and economic review was not presented. This is unprecedented and another indictment of an incompetent administration, and according to financial insiders, ' I suspect the picture is dismal.' Added to the Finance Minister not making the print version of his presentation of the 2021/2022 Estimates of Revenue and Expenditure before the House of Assembly, available for scrutiny, as of writing, March 17, 2021.
What is he afraid of - given that earlier this week, Caribbean News Global (CNG) examined the estimates and termed it a 'gangster capitalist' document - consistent with a patchwork of uncertainty.
The Honourable Leader went on to express his concern for the state of healthcare, the alarming number of COVID-19 related deaths, more than the entire OECS combined and the increase in the number of persons who cannot meet basic healthcare costs, a direct failure of the UWP Government who scrapped Universal Health Care plans.
He noted that $18.2 million was being borrowed for consultancies when Wellness Centres remain ill-equipped, medication shortages and the morale of healthcare workers is at an all-time low.
He noted that St. Jude’s Hospital remains incomplete after being under construction for 7 years by the UWP who destroyed 2 buildings and have spent over $79 million; the hospital is nowhere near completion.
The reckless spending over the last 5 years has left us with a debt to GDP ratio of 102% as
cited by CDB.
Saint Lucians and future generations are now burdened with debt and nothing to show for this Government’s excessive borrowing.
With over $400 million borrowed in the name of COVID-19 relief, very few Saint Lucians have benefited.
Hon. Pierre concluded by saying that a new SLP Government cares for people and would ensure that Saint Lucians receive much-needed support during this economic crisis.
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