Dear Editor,
In 2010, the JLP Government went to the IMF for help in squeezing yet more from the Jamaican taxpayer in order to service the public debt. In 2013, the PNP did likewise, arguing that by giving the debt higher priority than public services, economic growth and jobs would eventually follow. Many have questioned whether the continued austerity will do more than satisfy the creditors' insatiable appetite.
Is growth possible in a contractionary economic environment or will small entrepreneurs continue to struggle, leaving it to the whims of foreign capital to come to our rescue?
Will the sacrifices, felt more by those already struggling on low or no incomes, be worth it?
Can the debt burden, in fact, be reduced significantly in this way or do we need a radical re-think of our strategy?
This strategy would include putting an end to borrowing, a forensic audit and a focus on growth, driven locally, with a redirected primary surplus providing more jobs and an end to personal and national dependency.
The budget debate came to an end last week without these larger issues being addressed. The discussions must continue.
If you want to join a discussion which looks at the wider options, join us at the CVSS, 2D Camp Road, Kingston on Sunday, May 11 at 2pm. Speakers include Ralston Hyman, Danny Roberts, Dorothy Maitland-Price (small entrepreneur from August Town), Paul Jennings, Xavier Malcolm, and Lloyd D'Aguilar (rights activist).
Paul Ward
Kingston 7
pgward72@gmail.com
Stop squeezng the people to pay the debt
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In 2010, the JLP Government went to the IMF for help in squeezing yet more from the Jamaican taxpayer in order to service the public debt. In 2013, the PNP did likewise, arguing that by giving the debt higher priority than public services, economic growth and jobs would eventually follow. Many have questioned whether the continued austerity will do more than satisfy the creditors' insatiable appetite.
Is growth possible in a contractionary economic environment or will small entrepreneurs continue to struggle, leaving it to the whims of foreign capital to come to our rescue?
Will the sacrifices, felt more by those already struggling on low or no incomes, be worth it?
Can the debt burden, in fact, be reduced significantly in this way or do we need a radical re-think of our strategy?
This strategy would include putting an end to borrowing, a forensic audit and a focus on growth, driven locally, with a redirected primary surplus providing more jobs and an end to personal and national dependency.
The budget debate came to an end last week without these larger issues being addressed. The discussions must continue.
If you want to join a discussion which looks at the wider options, join us at the CVSS, 2D Camp Road, Kingston on Sunday, May 11 at 2pm. Speakers include Ralston Hyman, Danny Roberts, Dorothy Maitland-Price (small entrepreneur from August Town), Paul Jennings, Xavier Malcolm, and Lloyd D'Aguilar (rights activist).
Paul Ward
Kingston 7
pgward72@gmail.com
Stop squeezng the people to pay the debt
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