WHILE YOU COULDN’T FAULT Minister Sinckler on articulation at his press conference, it’s worrying that his solutions continue to be based on future possibilities. And we know that these don’t always become realities.
In fact, Standard Poor’s, in its report accompanying the latest downgrade, (almost on par with Venezuela!) noted that Minister Sinckler said the BNTCL sale was a done deal over a year ago, but it was yet to happen.
The excuse given is legal and administrative delays – the same problems that kill private ventures.
On the topic of sale of government assets, we know one-off sales aren’t the answer to our predicament. While they may assist temporarily if the proceeds are used sensibly, they can’t replace sustainable policies and financial discipline. And anyway, although BNTCL may be an exception, most of Government’s so-called assets are really liabilities and therefore difficult to offload.
For me, the most significant thing coming out of the press conference was that Government finally seems willing to accept advice. Minister Sinckler announced a revamped National Council of Economic Advisors. So why was the original one disbanded when I can’t think of any time since 2008 when things were “rosy” or even comfortable.
Former Prime Minister Arthur, who obviously brings significant experience to the table, is apparently to be on this council. We await the names of the other members, and hope that they’re honest, competent and patriotic Barbadians who will act in the country’s interest. But will their advice be taken?
We already have advisory committees in various areas, but I can vouch for at least one which was a total waste of time as any recommendations made went unheeded.
Mr Arthur has been speaking publicly regarding our present position. I’d advise him to keep quiet until he’s officially installed, lest he’s “fired” before he’s officially “hired”. This administration is very “thin-skinned”. In fact, judging from press reports there already seem to be rumblings in the Cabinet over Arthur’s selection.
Hopefully, Minister Sinckler and his colleagues listened to BrassTacks Sunday, which aired the views of wellknown people from Jamaica, Trinidad and St Kitts – countries which were or are currently experiencing problems similar to ours.
The essence of the discourse was that Barbados used to be a model of good decision-making overriding political concerns but it needed to stop procrastinating since it was apparent for many years that something was wrong; the “heavy lifting” needed to be done early; the proof of our maturity as a sovereign nation is our capacity to manage our financial affairs properly; we have to take political risks – either experience catastrophe or take necessary measures; Barbados’ position is dire and will take about 20 years to recover; downgrades are important – they’re signals that the economy is becoming a “basket case”; the people need to be involved; transparency and dialogue are necessary to get buy-in to measures.
Meanwhile, even in the wake of our 18th downgrade, Government is still boasting about its achievements. Nothing can put a dent in their false pride! Prime Minister Stuart is reported as saying “ . . . and the march of triumph begins today as we embark on our quest to win the next general election”. You can imagine what will happen from here on in. Heaven help us!
During the press conference, Mr Sinckler noted that it was being said that Government planned to buy Kensington Oval and asked how Government could buy something it already owned. But according to those who should know, unless some secret agreement was made recently, the Barbados Cricket Association owns Kensington and has leased it to Government for 99 years. Not surprisingly, to date they’re allegedly $14m in arrears in lease payments.
Actually the new Kensington Oval probably contributed to our downfall. Like true Bajans, we had to prove we had the best stadium in the Caribbean. But what financial benefit did that, or in fact World Cup 2007 itself, bring us?
Interestingly, Budapest was campaigning to host the 2024 Olympics but a petition against the bid claiming the money could be better spent on education, healthcare, housing, transport and social programmes gained more than 200 000 signatures and the Hungarian Government has advised the country’s Olympic Committee to withdraw.
Can you see that happening in Barbados?
• Dr Frances Chandler is a former Independent senator. Email: fchandler@caribsurf.com8