The PDM in a release to RTC news states that they believe that the Government has made a step in the right direction by withdrawing the ill-fated Payroll Bill.
We believe the decision to bring this Bill in the first place was a waste of time. We also believe this is another look into the mind of a Government who refuses to accept the social plight and difficult circumstances in which our people are living and seem prepared to throw up barriers to inward investment than to make it more conducive for investment. We are disappointed that the Minister of Finance announced that he had alternatives in the event that the Bill failed but we are left wondering what they are even weeks later. We see a rolling back of taxes as we have been calling for, a move which many countries have already proven to be a stimulating factor for their economies. The PDM held this position since it was elected to Office and the Government continue to introduce tax after tax. We are hoping that this is the first step of many steps to providing relief to the people. We will continue to stand firm in our position that we can not tax our way out of a recession and to push the importance of growing the economy through inward investment.
We are calling on the Government to stop playing politics with the defeat of this Bill and to stop insulting the right thinking people of this country. The amount of $5.6m projected could never fund the projects that the Government is now claiming. It claims a loss in revenue but there is a lot of fluff in areas that will be revealed next week.
We maintain that this Government is not serious about savings because if it were, it will deal with the white elephant in the room – the monster healthcare cost. When it pays more than lip service to the budget killer – healthcare, then we will believe that it is truly interested in developing a solid, realistic fiscal strategy.
NHIP
We are also please with the NHIP Amnesty and call on the Government to release the amount being abandoned in the interest of transparency and the amount due to be collected. We await the NHIP Audit and will address our concerns during the Budget Session next week.
Credit Rating
The triple B rating places these Islands solidly in the investment bracket and we are hoping to be able to only go higher in future ratings. The PDM was happy to meet with the representatives of S&P and to play our part in this important exercise. However we must be clear that this rating is valid for unsecured debt. We maintain that our Alternative Plan was best as secured debt will capture better rates. We know PDM’s
Plan is certainly a step in the right direction and the Government’s venemous attack revealed their lack of maturity in the governance of this country and their willingness to in good faith hear ideas from anyone other than their small circle.
We believe that the people of these Islands deserve something better.
During the Budget Session we will unveil the full PDM Alternative Plan.
