BEING A MINISTER of Finance and Economic Affairs can be the toughest job, especially in an economic crisis, but the Prime Minister needs to hold this important portfolio.
Former Prime Minister Sir Lloyd Sandiford made this point yesterday evening in a lengthy address to a meeting of the Democratic Labour Party’s (DLP) St Lucy constituency branch that showed him at odds with party leaders on several points.
Sir Lloyd told the gathering at the constituency branch in Pie Corner that despite the serious problems his Government faced in 1991, forcing him to institute an eight per cent public service pay cut, he held on to the Finance and Economic Affairs portfolio.
This was because he felt a Prime Minister “must be in charge” of how the economy was going.
There had to be a “direct, hands-on experience” by the Prime Minister, with close contact being maintained with major players in the economy, including business and commerce leaders, Sir Lloyd remarked.
His position is in contrast with that of Prime Minister Freundel Stuart, who has excluded finance and economic affairs from his responsibilities.
Sir Lloyd also said he favoured trimming public sector salaries, as he did in his Government’s crisis days.
