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FM
Former Member

Stakeholders react to Budget 2016: visionless, disappointing

Budget 2016 was far from exciting and the high expectations surrounding its presentation by

Ramesh Dookhoo

Ramesh Dookhoo

Finance Minister Winston Jordan was completely overrated.
These are some of the views expressed by stakeholders who dubbed the National Budget for the year as “visionless” and “disappointing”.
Minister Jordan stood for three long hours as he read aloud the contents of the financial plan before a room full of parliamentarians and media operatives. Notably, the parliamentary chamber, which is usually packed to capacity with members of the business community and diplomatic corp. on “Budget Day”, saw little to no appearance from expected high-level representatives.
Contacted for a comment, Economist Ramon Gaskin posited that the Budget which is themed “stimulating growth, restoring confidence, a good life beckons” ironically lacked the requisite measures to achieve such.
“My general assessment is that in terms of job creation and stimulating the economy to produce jobs at the local level, the budget failed miserably. There is no stimulus for the

Ramon Gaskin

Ramon Gaskin

villages to create jobs and be productive,” he remarked.
In essence, Gaskin concluded that the budget is nothing but pure rhetoric and included nothing substantial to address the issues that were highlighted.
“He highlighted the problems in the economy but he didn’t say how they plan to improve that… all of that is pure nonsense and has nothing to do with economic development and his optimistic forecast of growth, there is no justification,” he stated.
With respect to the money allocated for the sugar industry, Gaskin noted that the funds could have been better utilised. “The money for [Guyana Sugar Corporation] GuySuCo is money being wasted, money going down the drain, money that should be used to create jobs for the workers that are going to be displaced rather than giving money to GuySuCo,” he said, suggesting that the money be used to retrain the Wales sugar workers who will soon lose their jobs or to provide entrepreneurial grants to help in the startup of another business following the impending closure of the estate.
“They didn’t talk about any of these things. All he said was that we will keep pouring money into this bankrupt organisation called GuySuCo. Its money going down the drain… It’s not being productively spent,” he added.
Commenting on the absence of tax reforms, Gaskin opined that it was a big disappointment.
Additionally, he lamented the fact that there were no salary increases for workers. He posited that Government’s excuse for not including wages increases is unacceptable.
“Government should have started consultations with the unions since September last year,” he stated.
President of the Guyana Agricultural and General Workers Union (GAWU) Komal Chand shared similar views. Expanding on his overall assessment, Chand welcomed the $9 billion for the sugar industry but reminded that it is a significant reduction from what the Prime Minister Moses Nagamootoo had promised which was $12 billion.
“So what they gave the industry is just 66 per cent of what the industry need. If they want to make the industry once again sustainable you have to provide the funding at this stage so that the critical work including critical captain work can be done. The release is inadequate and that doesn’t send the right message that the industry can overcome its difficulties and rebound,” he said. He also chided the government for not even uttering a single word about their plan for the workers at the Wales Estate.
Additionally, President of the Guyana Trades Union Congress (GTUC) Norris Witter conceded that the public will be tremendously disappointed about the absence of salary increases but he accepted that government must indeed consult widely with the unions before making a pronouncement.
Generally, Witter said he is satisfied with the overall budget, noting that it comes at a time when the economic conditions are hostile.
Ramesh Dookhoo, representative of the Private Sector Commission (PSC) for his part lauded the announcement of huge infrastructural projects and the tax break on alcoholic beverage.
He also expressed satisfaction with the $1200 increase in pension for the elderly population.

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The PPP/C gave the Pensioners Electricity Subsidy and Water Subsidy, and the PNC/ACF high handedly took that away,  today even with the small piece the PNC/AFC give.......cannot matches up, even with this G$1,200 or US$6 that the PNC/AFC shamelessly gave out.

 

FM

The PPP/C gave the School Children G$10,000 per term, the PNC/AFC took that away too like pack of thieves.

Surprising Guyanese were presented with a shitty budget.
Has little or nothing for the Poor and Needy

FM

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