Dear Editor,
The incontrovertible fact is that the Portia Simpson Miller-led Administration was successful in passing 10 consecutive International Monetary Fund (IMF) tests and deserves some credit for stabilising the Jamaican economy over the period. However, the then Simpson Miller-led Government miserably failed to implement sound economic policies that would achieve yearly economic growth; the unemployment rate increased over the period; exports decreased while imports substantially increased, pushing the country’s import bill to an all-time high, using up an enormous amount of foreign exchange; local businesses contracted in some areas, while major infrastructural decline scandalously took place throughout the country; and the Jamaica dollar declined by over $30 over the period between 2008-2012.
No effective fiscal and economic policies were implemented by Finance Minister Peter Phillips that would make it attractive and conducive for existing local businesses to expand, and very few new businesses were formed. Successfully passing 10 consecutive IMF tests alone just won’t cut it.
What is now blatantly tragic, disgraceful and scandalous is that Phillips has the gall to be now lambasting Finance Minister Audley Shaw when, in fact, Shaw presented an outstanding Budget for financial year 2016/17, dutifully fulfilling his promise of a $1.5-million tax-free plan for PAYE workers. Over 200,000 Jamaicans will now financially benefit from the Jamaica Labour Party’s (JLP) plan.
Jamaica Observer columnist Garfield Higgins was absolutely correct when he scholarly wrote recently that, under the previous PNP Government, more Jamaicans drifted into poverty, hopelessness and squalor, having no economic growth, with a missing-in-action prime minister.
The People’s National Party (PNP) should cease from propaganda against the JLP Government and recognise that it is expected to be a sincere, responsible, and constructive Opposition.
The appointment of Jamaican business and banking mogul Michael Lee-Chin to chair the Government’s Economic Growth Council; appointment of Rhodes Scholar Dr Nigel Clarke as an investment ambassador plenipotentiary; and Aubyn Hill as special investment ambassador to India are commendable, bold and first-class appointments by Prime Minister Andrew Holness, and which will undoubtedly benefit Jamaica in tangible financial and investment terms. Why hasn’t the PNP supported these positive appointments?
Kudos to the JLP Government and Minister Shaw for successfully meeting all fiscal targets and for articulating an outstanding budget with significant possibilities for growing the economy and creating new jobs within Jamaica. Shaw should be applauded for restoring the relevant tax incentives to the Junior Market of the stock exchange. Holness, too, presented a first-class, impressive Budget presentation, a masterpiece with new housing policies for implementation.
Robert Dalley, Esq
robertdalley1@hotmail.com
The incontrovertible fact is that the Portia Simpson Miller-led Administration was successful in passing 10 consecutive International Monetary Fund (IMF) tests and deserves some credit for stabilising the Jamaican economy over the period. However, the then Simpson Miller-led Government miserably failed to implement sound economic policies that would achieve yearly economic growth; the unemployment rate increased over the period; exports decreased while imports substantially increased, pushing the country’s import bill to an all-time high, using up an enormous amount of foreign exchange; local businesses contracted in some areas, while major infrastructural decline scandalously took place throughout the country; and the Jamaica dollar declined by over $30 over the period between 2008-2012.
No effective fiscal and economic policies were implemented by Finance Minister Peter Phillips that would make it attractive and conducive for existing local businesses to expand, and very few new businesses were formed. Successfully passing 10 consecutive IMF tests alone just won’t cut it.
What is now blatantly tragic, disgraceful and scandalous is that Phillips has the gall to be now lambasting Finance Minister Audley Shaw when, in fact, Shaw presented an outstanding Budget for financial year 2016/17, dutifully fulfilling his promise of a $1.5-million tax-free plan for PAYE workers. Over 200,000 Jamaicans will now financially benefit from the Jamaica Labour Party’s (JLP) plan.
Jamaica Observer columnist Garfield Higgins was absolutely correct when he scholarly wrote recently that, under the previous PNP Government, more Jamaicans drifted into poverty, hopelessness and squalor, having no economic growth, with a missing-in-action prime minister.
The People’s National Party (PNP) should cease from propaganda against the JLP Government and recognise that it is expected to be a sincere, responsible, and constructive Opposition.
The appointment of Jamaican business and banking mogul Michael Lee-Chin to chair the Government’s Economic Growth Council; appointment of Rhodes Scholar Dr Nigel Clarke as an investment ambassador plenipotentiary; and Aubyn Hill as special investment ambassador to India are commendable, bold and first-class appointments by Prime Minister Andrew Holness, and which will undoubtedly benefit Jamaica in tangible financial and investment terms. Why hasn’t the PNP supported these positive appointments?
Kudos to the JLP Government and Minister Shaw for successfully meeting all fiscal targets and for articulating an outstanding budget with significant possibilities for growing the economy and creating new jobs within Jamaica. Shaw should be applauded for restoring the relevant tax incentives to the Junior Market of the stock exchange. Holness, too, presented a first-class, impressive Budget presentation, a masterpiece with new housing policies for implementation.
Robert Dalley, Esq
robertdalley1@hotmail.com