{"id":192398,"date":"2023-12-17T12:47:22","date_gmt":"2023-12-17T16:47:22","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=192398"},"modified":"2023-12-17T12:47:22","modified_gmt":"2023-12-17T16:47:22","slug":"opinion-where-are-all-the-financial-and-economic-experts-in-the-ministry-of-finance","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/opinion-where-are-all-the-financial-and-economic-experts-in-the-ministry-of-finance\/","title":{"rendered":"OPINION: Where Are All The Financial And Economic Experts In The Ministry Of Finance?"},"content":{"rendered":"
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WHERE ARE ALL THE FINANCIAL AND ECONOMIC EXPERTS IN THE MINISTRY OF FINANCE?<\/p>

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Please provide me right now with the name of 5 experts in this ministry with an advance degree (master’s and PhD) in related fields like economics, accounting, Social science (economic and financial impact on society or groups), Business Administration, Law (Business, contracts, securities, etcetera).<\/p>\n

Please start with the degree of the Minister in charge of this Ministry, then his second, then the thirds (I think that would be a permanent secretary) and then heads of departments. I then would ask for the degrees for those in the cabinet and regular advisors to the cabinet pertaining to the economy, taxes, accounting). Please promptly provide us with how decisions are made on how to increase revenue for the government without being overly intrusive and burdensome to the public?<\/p>

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Why are the only options it seems for the Government of Antigua and Barbuda is to tax the people, borrow internationally (costing the people exorbitant fees and interest) and beg?<\/p>

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Taxing the poor, constant taxing and increase taxing are outright immoral acts that also shows incompetence of any government or political party who put into law taxes without using other creative, simple and innovative pragmatic form of revenue creation that is less intrusive and less burdensome to the average citizens. It sounds similar to those people who when crimes increase immediately jump to penalty increasing when nearly at no time a criminal who commits vicious crimes considers the severity of the punishment prior to committing the crime, thereby the increase in penalty does not have any deterrence benefits. It only has punishment benefits but not deterrence and crime prevention benefits that the society needs in the long run. That is also how these politicians think of taxes, they increase taxes, ignorantly not considering and increase in taxes has no long-term benefits to the economy and people, which will result in them having to increase taxes again in the relatively immediate future, instead of using the tools I mentioned below that actually will ensure constant flow of current and additional income to the government and Longterm benefits to the people and economy.<\/p>\n

An economy like Antigua and Barbuda should be able to raise money without any direct or harsh impact on the local and average population. I will provide you with examples as my way of helping.<\/p>

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The government should immediately demand that local goods and produce are prioritized for use\/sale in the hotel, restaurant and grocery stores locally. Make it the law these places to have a minimum amount of local produce (my minimum is 50% or all available goods, whichever is highest). I will explain how this becomes income for the government.<\/p>\n

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This becomes income because this assurance your produced will be purchased will increase demand and supply will increase, creating more jobs. This is more income for Social security, medical Benefits, Education and more folks investing in local businesses. Then purchasing locally means more money is being circulated in the local economy instead of overseas, increasing the amount of time cash being spent locally is taxed.<\/p>

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I will give an example of this. I (hotel) spend $10 buying carrots locally which means according to the hypothetical ABLP tax policy being used here, I (hotel) am paying about $4 in taxes (only being used as example here), which means the government just collected $4 from my purchase of the carrots and then the producer went ahead and purchase additional local goods (carrots) with that same $10 paying additional taxes on his purchase locally for resale. Had I (hotel) purchased my bread overseas that would substantially decrease the amount of time that $10 would not be circulated and taxed, which would decrease government revenue but if the government encourage more local spending by passing laws for hotel to purchase locally first and a minimum amount by government using its power (and do not say I cannot help you Antiguan and Barbudan)\u00a0 then there would be more government income and other economic benefits gained from that $10 being spent locally. It is vitally important to have any business or economy or government\/country having a constant flow of cash. Where are the expert economists to have encouraged the ABLP about this since they are in power, if they are saying UPP is incompetent? The hotels, restaurant and grocery stores are making billions locally, let them contribute in a manner such fair manner. Let them push growth, they will benefit substantially too. Provide incentives to these industries to buy locally a large percentage of their needs and wants.<\/p>

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If hotels, restaurants and grocery stores purchased about 50% of their food, drinks and other locally, the government would see and additional revenue from $80,000,000 to about $388,960,000 a year in revenue as a result of the frequency of the money’s circulation in this specific economy, on top of what is already the norm. There are also positive effects from this, economically. Do your calculations on food (just food and drinks in one hotel in Antigua, and you will see my numbers are actually minimal).<\/p>\n

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The other vital tool is to immediately begin to look locally for certain types of borrowing that the government needs that usually comes with high cost overseas. The local government needs to begin borrowing money locally, from the public, and paying a fraction to the public of the unconscionable cost and interest they would have paid internationally. The loan usually costs 25% overseas, then pay locals to borrow their money at 15 to 22% (less than what will be paid overseas), but higher than local banks’ interest but with minimum time bonds can’t be cashed. Terms like cash unavailable for a 1, 2 or 3 years. But before this can happen, the government needs to establish credibility, and trust me, do not have financial credibility (not if you are serious investor and comprehend what credibility is in business and investment). The governments need to build trust and provide proof, keep things simple and find creative and lasting ways of creating revenue and new sources of revenue.<\/p>\n

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The government needs to as soon as possible start selling Antigua and Barbuda treasury bonds with full force and backing of the government with never any problems for locals to cash their bonds when they become redeemable. This bond selling will also keep vital cash flow in the country, and which also substantially and positively impacts the economy and the average man. Bonds can be purchased as small as $10 or $25 to as high as $1,000,000 or more, according to the need and ability of the government.<\/p>\n

 <\/p>\n

Then this would encourage so many international business endeavors to enter into the Antigua and Barbuda Economy. I demand for Antigua and Barbuda to get into the mental and emotional health industry. The Caribbean has always been looked at as a place conducive to TOURIST, as a place of relaxation and remedy for mental and emotional good health. These industries provide billions of dollars from funds (like crime victim funds for emotional and mental support help, workers compensation funds for employee mental and emotional health, and regular insurance policies also provides for such coverage of expenses incurred for mental and emotional health if mental or emotional health resulted from the harm being covered). This is also a way to market the country and bring in those foreign currencies instead of always running to taxing locals every time politicians make a financial problem exist because of their incompetence.<\/p>\n

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The key here, that the government seem to not comprehend, is for there to be a constant flow and circulation of cash in the economy, that is the friend of the government, for revenue. So, taxing decreases spending, when the government actually needs spending to increase revenue collection, so they always have cash to collect, pay, build and develop (more for them to steal, you have to put in a benefit for the politicians for them to want to do the right thing for and help the people ha ha ha ha). The key is “constant cash flow and circulation” in the economy.<\/p>\n

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Always push for small or large business to operate, never say you cannot help, especially when the person has the financial ability to do as he or she is saying they want to do, and when not asking for tax breaks or money from the government, you push for that business to be accommodated and facilitated so that operation can begin immediately, especially it is the kind of business which about 99% of the income is coming from foreign countries, not local. You need to attract every business that is bringing new money into your country. That is just sense.<\/p>\n

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So, it is vitally important to have experts with advance degrees in business, economics and society to be at the helm of the Antigua and Barbuda Ministry of Finance, Ministry of tourism, Ministry of Foreign Affairs and Ministry of National Security. Why is it so hard to convince locals they no longer should put more weight on loyalty to a party but instead put that weigh on progress, merit, and advance degree and knowledge.<\/p>\n

 <\/p>\n

Provide me with workers in these ministries who have turned $1 into millions, but not while working for the government or while in politics. I am now outlawing this increase in taxes on the public and demanding creative ways in increasing revenue and cash flow for the country of Antigua and Barbuda.<\/p>\n

 <\/p>\n

With marijuana selling now becoming legal locally, there should be no increase in taxes on any other product but this, well, alcohol and cigarettes can get a tax increase.<\/p>\n

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PLEASE HIRE EXPERTS WITH ADVANCE DEGREES OR ACCEPT THOSE OFFERING YOU EXPERT ADVISE FOR FREE.<\/p>\n

 <\/p>\n

Stop being so wicked to the average men and women in the country. Give them a breach and use creativity that has long-term benefits.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

WHERE ARE ALL THE FINANCIAL AND ECONOMIC EXPERTS IN THE MINISTRY OF FINANCE? Please provide me right now with the name of 5 experts in this ministry with an advance degree (master’s and PhD) in related fields like economics, accounting, Social science (economic and financial impact on society or groups), Business Administration, Law (Business, contracts, […]<\/p>\n","protected":false},"author":3,"featured_media":192263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-192398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nOPINION: Where Are All The Financial And Economic Experts In The Ministry Of Finance? - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/opinion-where-are-all-the-financial-and-economic-experts-in-the-ministry-of-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OPINION: Where Are All The Financial And Economic Experts In The Ministry Of Finance?\" \/>\n<meta property=\"og:description\" content=\"WHERE ARE ALL THE FINANCIAL AND ECONOMIC EXPERTS IN THE MINISTRY OF FINANCE? 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