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GROWTH AND JOBS – OUR ONLY SALVATION
Mr Speaker, it is clear from my presentation in this Honourable House today, that
passing 7 consecutive IMF Tests may appear to have balanced the books, but
passing these tests have most certainly not balanced the people’s lives, which is
the stated objective of this PNP government.
It is questionable whether the books have been truly balanced when the private
sector is owed $17 billion for withholding tax on interest, other public sector
entities are also reportedly owed up to $25.0 billion in withholding tax on
interest, the NHT is owed $20 billion for statutory deductions (in addition to a
raiding of $44.0 billion of its resources). The JPSCo is reportedly owed $7.0 billion
and other Central Government arrears stand at some $21.0 billion, totalling $83.0
billion.
This is money that is being kept out of the economy that itself could provide a
stimulus for economic growth and job expansion.
But while the government boasts about passing the IMF tests, it is clear for every
Jamaican to see that they have failed to balance people’s lives – they have
dismally failed the people’s test.
They have failed the test of maintaining adequate social services. They have
failed the test of economic growth. They have failed the test of job creation and
they have failed the test of wealth creation through the growth of personal
incomes.
Mr Speaker, the real test of a nation state, is not how many contrived tests
passed by the IMF or anyone else, the real test to pass is the test of wealth
creation through sustained economic growth over a protracted period of time,
where people enjoy a better life.