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Eustace: Worst budget ever!

Eustace: Worst budget ever!

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Opposition Leader, Arnhim Eustace is of the opinion that this budget is the “worst budget ever” presented insofar as content and forming the direction of the country is concerned.

Eustace, in his response to the budget presentation, told Parliament on Tuesday, January 24, the Unity Labour Party (ULP) Government has demonstrated their incompetence and complete lack of understanding of what is required to spearhead the economic recovery of the state.{{more}}

Eustace began his presentation by responding to the Prime Minister’s remarks regarding the aftermath of the December 7, General Elections. He indicated that the decision not to pursue any election petitions was taken on legal advice, but that does not preclude the New Democratic Party (NDP) from bringing constitutional action or private criminal actions, which he said are options the NDP is currently exploring.

Eustace argued that the Chamber of Industry and Commerce, in a substantial paper presented indicated that much of what the government proposes in the budget is essentially politically expedient but not designed to promote fiscal prudence or economic wellbeing in the country.

Eustace said the Government has been claiming that for the year 2004, it recorded economic growth of 5.4 per cent. However, in order to get a sense of where the country is economically, the average growth for a time period 2001-2004 is a better indicator.

The opposition leader pointed out that the average growth for the four years of the ULP Administration was 2.6 per cent. He said if one adds to that the Prime Minister’s figures for rate of growth of the economy in 2005, 5.4 per cent that brings the average growth for their first term to three per cent. Eustace stressed it is clear that the ULP in its first five years with a growth of three per cent is at the level of the NDP when it was at its lowestn