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Dec 02, 2018 AFC Column, Features / Columnists
Budget 2019 made big news throughout last week with every media house reporting on the multi-facets, multi-benefits, multi programmes designed to grow the Guyana economy, a country that hovers on the edge of a fantastic future. One man said that whenever he tries to describe the atmosphere extant in Guyana, the words that come to mind are, “… Wait for it” with a drumroll.
The Budget has done a lot to ramp up that excitement, and the media reportage of the many parts of it, well delivered by the Minister of Finance, was balanced, except of course for the reports out of the Opposition’s media houses. We suppose that the Opposition is obligated to their supporters to refuse to acknowledge the benefits of the budget. The Opposition Leader’s description of the $300.7B Budget as “visionless and disappointing” fell kind of flat on Tuesday because, as the man in the street believes, the entire budget is full of vision, new programmes and social and economic benefits for every citizen.
Over the coming weeks when the Budget debates begin, prepare to get really tired of the same old tired lines from the Opposition benches as they attempt to discredit every citizen development programme, even though many of the programmes are already underway. We expect that the Opposition members will shout and stomp, deliberately misrepresent the truth, and throw in some dramatic displays here and there for the benefit of their supporters during the debates.
But it will be hard to convince anyone that this budget is not like fishing for snapper in their spawning ground. It’s a budget that prepares Guyana for transformation to a petroleum exporting state. It is preparing Guyana to become the next Kuwait, all new legislation and anticipated investments considered.
Even the Private Sector Commission (PSC) which has in the past, made no secret of its support for the PPP and that party’s alleged past operation of a parallel economy, publicly said that the budget contains some commendable policies and recommendations. The PSC has acknowledged that it contains some of the recommendations the PSC had made to the Budget team during consultations earlier this year, e.g. lowering of the corporate tax to 25 percent, and the social and welfare programmes for citizens.
The PSC congratulated the Finance Minister for presenting yet another budget before the end of the current fiscal year. “We are happy too that Budget 2019 (raises) the tax threshold which the commission had proposed for relief of the tax burden upon employees … and for (upgrading) hinterland airstrips. Also gratifying (are) the provisions made for the (disabled), a demographic which is often neglected,” a statement from the PSC read.
Many of our own members have said that the most valuable item in Budget 2019 is the $52.2 Billion allocated to the Education Sector. This is a serious investment in youth which augurs well for the development of Guyanese supported by the emerging oil and gas industry.
This nation now has a more compelling obligation to invest heavily in the education of our children from nursery to secondary, through the technical/vocational institutes to university. There is a very real likelihood that many micro to medium scale Guyanese-owned services and manufacturing businesses will emerge in the not-too-distant future to cater to the petroleum industry. The nation has to build its human capacity to support local and foreign investors and their endeavours in the medium to long term.
The new measures to be implemented target small, start-up businesses and business expansion in every field including construction, forestry/logging, ICT, food production, tourism and hospitality, as well as evening classes.
And for people living with disabilities, the move by the Government to implement tax concessions on private vehicles specially equipped for transporting these persons, and for the purchase of enabled smartphones, is also highly commended. These new measures to accommodate this special group of people will extend to specialized vocational training.
The AFC is especially pleased that all of the ministerial portfolios led by the party’s executives have been allocated the sums they need to carry forward the work of the Government. The sum of $38.5 Billion has been allocated for infrastructural development; $35.6 Billion to enhance the Safe City and other Security initiatives; $4 Billion to move the myriad programmes to bring Guyanese into the digital age; and $17 Billion for Agriculture.
We look forward to the upgrade of the Linden to Lethem and Parika to Bartica corridors, as well as the new four-lane high bridge across the Demerara River.
The AFC commends the Finance Ministry for continuing to invest so heavily in education. We applaud the measures and financial support for small business development, the HEYS programme, the Bina Hill Institute for Learning, for forestry development, and protection of the environment in the gold and diamond mining districts in the hinterland.
The AFC looks forward to the implementation of every social, economic, educational and youth development programme in Budget 2019.
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