Chris Sinckler, Minister of Finance
Minister of Finance (MoF) Chris Sinckler has promised a press conference on Monday [27/10/2014] at 10AM. Given the anaemic performance of the Barbados economy over the last 6 years, AND what is projected in the near term, there is an air of doom and gloom that has understandably settled over Barbados.
One positive that may yet come from the MoF press conference is that he finds himself in a position to elucidate on the Central Bank Press Release Current Economic Performance for September 2014. At a time when clarity is required to ensure stakeholders in civil society are able to strategize for success there is continuing confusion if we are to judge by the statements coming from the heads of the Private Sector Association (PSA) and Barbados Chamber of Commerce (BCCI). It is an understatement to suggest confidence has been dwindling in the pronouncements of the Governor of the Central Bank. His most recent projection that the local economy will grow by 2% echoes a similar statement in January 2011, instead, Barbadians have witnessed economic decline.
The sudden cancellation of press conferences post delivery of Governor Worrell’s economic performance briefings has largely gone unchallenged by local media. What we had was a spirited response by the Nation newspaper to the decision to expel them from Central Bank press conferences to which the Governor and his Central Bank Board responded by cancelling press briefings altogether. The Governor has gotten the last laugh with local media receiving a black eye and by extension the public it is ethically setup to serve.
Edmund Hinkson M.P, St.James North
George Payne, M.P, St. Andrew
Dale Marshall, M.P,St. Joseph
The following is the Witness Statement of Dale Dermont Marshall who was Chairman of what BU describes as the tumultuous BLP Parliamentary meeting held on 25 February 2013 to select a political leader.
Dale Marshall Witness Statement (1)
Dale Marshall Witness Statement (2)
Dale Marshall Witness Statement (3)
Dale Marshall Witness Statement (4)
Dale Marshall Witness Statement (5)
Dale Marshall Witness Statement (6)
One of the main factors preventing the political process in many countries from attaining democratic ideals is the influence of money. While money is necessary for democratic politics, it can also be a tool for some to unduly influence the political process by buying votes or influencing policy decisions. For example, interest groups may buy access to the corridors of power or issue outright bribes to decision makers – Funding of Political Parties and Election Campaigns
Submitted by Douglas
Government a tower of strength!
In the interest of the people of Barbados, this Democratic Labour Party administration will remain committed to our goals of restructuring the economy of Barbados. We will also continue to govern by doing what is in the best interest of the people of Barbados. As we go about the process of restructuring the economy and carry out the measures in the fiscal consolidation programme, some of the medication which we have to take may be bitter but in the end it is for a good cause.
The 19-month fiscal consolidation program was introduced in August 2013, thirteen months ago. Towards the end of the presentation by the Minister of Finance, he rallied Barbadians to support the measures recognising that they would redound to the benefit of the nation. He stated, “It is crafted to protect the things we hold dear and create new platforms for future success. It will not be easy nor will it be painless, but it will be worth it in the end. For the pain we bare now, will be the gain we secure in the future.”
In dealing with the Global Economic recession from 2008, this DLP administration insisted that we must maintain the social safety-net. When we look at what we have done during the time, this administration has managed to shield Barbadian from the full blow of the economic downturn.
When the government (National Insurance Scheme) sold a significant chunk of its shareholding in Barbados Light & Power (BL&P) BU disagreed. When Barbados National Bank (BNB) was sold to Republic Bank we disagreed. When Barbados Shipping & Trading (BS&T) was sold for 30 pieces of silver by the White elite seeking to secure their golden parachute, we disagreed.
BL&P (EMERA) is the sole electricity utility provider in Barbados, a strategic asset. One of the largest inputs in the cost of production in Barbados is electricity. The capacity to fund projects by creating financial products and vehicles in the national interest can only be done by an entity if the decision making is influenced by indigenous thought. ALL the commercial banks in Barbados are foreign owned. Barbados has a significant food import bill and to compound the issue, food distribution and retail previously controlled by Barbados Shipping & Trading (BS&T) was ceded to Port of Spain based Massy.
Three main ‘arteries’ of the Barbados economy, power, food, financial are effectively controlled and choked by foreign interest.
Watch from 7 minutes on the video.