Tuesday, April 23, 2024

GUEST COLUMN: Global example

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I HAVE always regarded Mr Peter Boos as a man with great ideas. But having read his Guest Column in the DAILY NATION of August 10, 2010, I now see him as a critic with nothing much to offer.If every country in the world is in a crisis, how can we expect to see increases in direct investments and remittances? Can we honestly say that ten per cent unemployment at this time is high in light of the problems stated by Mr Boos?Mr Boos is again blaming the Democratic Labour Party (DLP) for the Barbados Labour Party’s (BLP) destruction. He did it in the 1990s. He only has bite when the DLP is in Government. He brags about one-off reserves, but not sustainable reserves. He is now missing his toy “profit” and he is blaming everybody but himself. The man behind the services is not responsible for the decline, but must be praised for the increase. Our banking system is an example for the world. Mr Boos, where were you when the Government had record revenues from 1994 to 2007, and had one surplus?  Mr Boos, can you remember when your company and Coopers were called the undertakers under the BLP because of receiverships? You should check with Mr Grenville Phillips.Do you remember why GEMS was formed? Was the country in a crisis when the BNB, BS&T and ICB were sold?Mr Boos, was it Mr Boyce that cut back production on sugar by 10 000 tonnes, milk, eggs and poultry? Was it the DLP and Mr Boyce employed and paid our people with welfare and soap operas? Was it the DLP that borrowed for a rainy day when no rain was falling and the economy was good, according to you? The last time you did this was when the Japanese loans were borrowed in 1985 and then [you] blamed Sir Lloyd.Mr Boos, is it falling profits that got you angry? If you understood Kellmanomics, you would not be angry with us. Income Tax and Corporate Tax would have been removed when VAT was introduced. We have to stop protecting lawyers and accountants.Only if you had proffered some ideas to the Bees, we would have been able to ride out this crisis better. You supported globalization, trade liberalisation and mergers. I did not. That is the main reason for the problems; poor countries behaving rich to be seen at international cocktail parties.Retained earnings are kept for crisis times, but you allowed the Government to have all deficits with record revenues. Are you aware that the deficits under the DLP have to do with accounting for BLP expenditure, work in progress, like the BOLTS?I will await your useful suggestions on how we could have done differently.

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