Macbeth: Why should I play the Roman fool and die on my own sword? While I see live, the gashes do better upon them.
Macduff: Turn hellhound, turn! (Macbeth Act 5 Scene 8)
Thus began the final confrontation between Macbeth and his rival Macduff. Mind you, Macduff had many a grievance to avenge with his sword. On the other hand, Macbeth had to defend his previous actions.
But the poignant words were: “Turn hellhound turn!”
The dialogue came running to the Wild Coot as he saw the drama unfold on Monday, June 15, Budget Day, in the House of Parliament. It was a simple case of getting the “deficit down to ‘acceptable” level by the hook or the crook. That is to say, on paper if not otherwise. There have been many comments of analysis about the practicality of the battle as it will be enjoined, so the Wild Coot will let the marketplace have its say.
We the people have been hollering all the time for our Government to reduce the deficit to manageable proportions and it has tried to do so – hopefully. Our minister is not going to play the Roman fool and die on his own sword. How can he balance the books without a little salt? We have been sucking at the wrong nipples for nearly seven years, he said. We believe that we were punching above our weight. We were flattered by the words of our next-door neighbour – the idea of Barbados.
Macbeth and his wife the Central Bank will be the ruination of Barbados. Remember his wife was the one who gave encouragement – ‘But be the serpent under’t’, ‘Art thou afraid to be the same in thine own act and valour as thou art in desire’. However, such words of encouragement are implicit in the over $70 million in bonds to support the Government’s cash flow. This does not make sense. The Central Bank has put itself in a most dangerous position. It is said to hold over $400 million in Treasury Bills mostly earning one or two per cent payment from the Government not wanted by the banks. It now has an open cheque book to pay $70 million and counting in savings bonds at 5.5 per cent. No wonder Macduff’s explosive remark.
The Budget does not make sense. Tackling diabetes by imposing a heavy tax on the purchase of soft drinks does not affect the source of the sugar – the drinks makers. Lawyers, dentists, doctors, engineers, did I say bankers, judges, mechanics and teachers have to change accounting periods so as to ensure that they complete negotiations with Barbados Revenue Authority in time to get updated tax clearance before January 1 when licences are to be renewed to practise or else cat g’nam their suppa. Or no suppa!
These are a few of the consequences that Bajans have to trammel up in order to survive for the next three years while we suck salt as predicted by the Wild Coot. Reminds me of Tantalus in Tantarus – knowing about a sweet life already experienced, and longing for its return.
Each little sweetness that has been given with the right hand has been taken away with the same right hand as the left hand of the Government has been pinned behind its back.
When the Almighty first made man and woman according to Genesis, He gave them 120 years (except Methuselah). Because they obeyed the reptile’s voice, He reduced it to 70 and added sweat and pain. Now our beloved Government has reduced it further to 60 years when most of us were looking forward to 100 and a date with the governor general. Those members of BARP, including the Wild Coot are now the detritus of society condemning 46 000 or more or 17 per cent of the population, all above voting age. (Nearly the whole of Parliament too!)
Having said that buying savings bonds is not a sin, an old lady called me to ask what would be the punishment for sinning. I told her to leave the problem with the commercial banks. She asked me to explain. If she were unsure of getting bonds for bonds, an early encashment just before maturity at the commercial bank would ensure payment. You would not have to fear Macbeth or his wife Lady Macbeth.
Harry Russell is a banker. Email quijote70@gmail.com
