Latest update April 25th, 2024 12:59 AM
Mar 22, 2017 Letters
Dear Editor,
Economists today stand as the most dangerous and socially destructive non-combat professionals after politicians. A de facto source of advice on managing an economy, their ill-advised policies can wreak havoc on economies, giving rise to inflation and depressed welfares which fuel crime, stagnation of investment and employment creation, and a wasting of scarce financial resources on unnecessary and ill-timed infrastructure projects.
The social discord caused by the VAT policies in the 2017 Budget, combined with the strenuous support from the Minister of Finance and Government so far says that something is very wrong with the thinking of Minister of Finance at the very least. Both the Minister and Government may be of the opinion that opposition to the 2017 VAT policies is rooted in the PPP’s own efforts to have these policies removed from the budget. This is wrong, and a grave miscalculation that is exacting severe political costs for the government.
What is unfolding so far is that the Private Sector is unhappy and unwilling to get involved in any long term investment plans under the current policy framework, the entire country is upset about VAT and the middle class in Georgetown are screaming about the parking meter affair. Only sterling protest action has seen a recent roll-back on the parking meter fiasco, but bowing to these or anything else perceived to have socially and developmentally consequences will create avenues for more ridiculous policy ideas which will further erode the economic gains made thus far.
Unfortunately, we have to start talking about economic gains made because the PNC-led government seems intent on a lock-step dance back into our dark past during the PNC’s infamous previous reign. There is level of basic common sense to scrapping the 2017 VAT policies that makes this act a no-brainer. This however escapes the Minister, and is something that needs social pressure to get corrected. In the States they say, ‘Call your congressman/woman.’ Here I have to say, ‘Get on the protest line!” Societies and countries the world over have had their share of mad men in high offices. We ourselves have had enough firsthand experience as such a young country. We have to stand together and start booting our elected officers who would trample us.
Lance Cumberbatch
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