Home Pam Party The Democrat Newspaper
    Monday February 08, 2010
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
How do you think that the Denzil Douglas, Labour Administration is doing on the issue of Crime?
 Good
 Fair
 Poorly
View Results
 
A PROGRAM FOR GROWTH AND DEVELOPMENT

By: Vernon Harris, Economist

The Federation urgently requires a program for growth and development. This is the responsibility of the Federal Government. The country is being fed a continuous diet of misleading information as to the economic malaise which faces this Nation. The National Debt now stands at EC$3billion. The debt service ratio is 187% of Gross Domestic Product and climbing. The Debt service is EC188 million (2009 Budget estimates). This is 47% of recurrent revenue. It should be noted that Government revenue is projected to fall by 13.5 % in 2009 as the economic recession continues to haunt the nation. This means that less money will be available to finance education, health, community services and national security.

Debt service and Government’s stipend consume 79cents out of every dollar of recurrent revenue. The Minister of Finance attempts to confuse the people that the country has achieved “primary surpluses” giving a totally false picture of the harsh realities facing the Nation. Poverty is estimated in the latest CDB report at 23.4%. This means that 1 in 4 persons can barely afford one plate of food daily. Remittances to the Federation have fallen due to the recession in North America and Europe. This has negatively affected the poor in the Federation.

The Government must be committed to empowering the people through policies and programs to achieve self-reliance, independence, and employment and an escape from poverty and degradation to contribute meaningfully to the economic growth and development of this country. These policies will result in financial and political independence and will not augur well with the present political philosophy of independence and servitude which gives the political elite, economic and social control over the people. They will, however, promote economic growth and development.

Achieving a level of growth to empower the people can only be attainable with the total involvement of all the people. The CDB Annual Economic Review St. Kitts & Nevis 2007) stated “sustaining economic growth will require the government to create a more investment friendly environment in which the private sector can play a more dominant role”. Nationals must be encouraged to become self- employed businessmen in a productive capacity as against inventory speculators (storekeepers). This will not be a spontaneous process, but must be carefully planned and implemented without political bias. (The fiasco caused by an unregulated and over- subscribed taxi drivers market should be a warning that detailed planning is essential for success.)

 

A Small Business Development Center should be established and funding identified to assist the local small businesses to quantify their ideas. The CFB College and the AVEC will be required to provide training courses and programs to meet the needs of the community. The basic aim is to develop a nation, which is economically strong, independent and self-reliant.

 

 In order to achieve these objectives it would be necessary to implement the following:

·         Develop a marketing organization to market local goods and produce in Caricom and external markets. This will become critical as the agriculture and agric-processing sectors begin to meet their full potential.

·          Assist in developing business opportunities for all. The targeted sectors must be carefully planned and identified with an emphasis on trade and skills development.

·         Twin local businesses with those in other developing and advanced countries. (Do the basics here and send the more complex parts back to the parent company)

·         Encourage nationals with investment projects to return home. The fiscal incentives offered must be clear and not be at the whim and fancy of any public servant.

·         Investment incentives must be offered to local businessmen to encourage them to buy plant and equipment to become established and employ locals.

·         The fiscal incentives will be offered to locals to develop our own hotel industry. The flirtation with high end tourism is a return to the plantocracy and enslavement of the people. It only benefits colonial masters and the politicians.

It is imperative that this country exploit the growing demand for non- traditional tourism products such as eco-tourism; heritage tourism; cultural tourism and nautical tourism.

 

These policy measures are aimed at producing long-term employment for nationals.

In addition to the development of skills, crafts, farming, light manufacture, electrical, welding and mechanical skills, the Government must encourage and provide opportunities for the export of a range of professional services. These include accountancy, architecture, engineering services, computer and database services, inter-net related and web design services, data processing and data repair services, consultancy and market research. The capabilities of local businessmen and professionals in these fields will need to be identified and strengthened. Firms will have to be assisted in penetrating external markets.

 

Creating employment will contribute to poverty reduction. Unemployment creates poverty and deviant behavior. The Nation is quick to criticize our young people when they commit crimes, but when the society is gainfully employed these incidents of deviant behavior are drastically reduced, the Government has proved that it has no programs and policies to eradicate or reduce the level of poverty and unemployment. Hence it throws its hands up in the air and shouts that the problem in the home. This is due the fact that the young people are hungry, under employed and angry. The abundance of energy available from this source should be harnessed for the benefit of the Nation. The policies and programs which have been pursued so far have left the economy in disarray.

 

For More Articles For The Week of: 25-Oct-2009 Click Here...
 Archived News Articles
February 2010 January 2010 December 2009
November 2009 October 2009 September 2009
August 2009 July 2009 June 2009
May 2009 April 2009 March 2009
 
Advertisement
  © 2003 Pam Democrat. All rights Reserved