{"id":241442,"date":"2025-06-26T08:55:51","date_gmt":"2025-06-26T12:55:51","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=241442"},"modified":"2025-06-26T11:16:38","modified_gmt":"2025-06-26T15:16:38","slug":"lovell-defends-upps-record-on-social-security-blasts-ablp-for-neglect","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/lovell-defends-upps-record-on-social-security-blasts-ablp-for-neglect\/","title":{"rendered":"Lovell Defends UPP\u2019s Record on Social Security, Blasts ABLP for Neglect"},"content":{"rendered":"
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Lovell <\/a><\/strong>Defends UPP\u2019s Record on Social Security, Blasts ABLP for Neglect Former Finance Minister says UPP paid ten times more into pension fund than Labour Party<\/p>\n\n\n\n

Former Finance Minister Harold Lovell has defended the United Progressive Party\u2019s (UPP) record on Social Security, contrasting it sharply with what he described as decades of financial neglect by the Antigua and Barbuda Labour Party (ABLP).<\/p>

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Speaking at a UPP town hall meeting at Freedom House on Monday night, Lovell presented figures showing that during the UPP\u2019s 10-year term in office, the government paid EC\\$122.7 million into the Social Security Fund\u2014more than ten times the EC\\$11.9 million contributed by the ABLP government over a 28-year period.<\/p>

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\u201cFor 28 years, the Labour Party treated the Social Security Fund as a source of cash, not a protected trust,\u201d Lovell said. \u201cThey borrowed from it, failed to pay contributions, and left the fund in crisis. In contrast, the UPP acted responsibly and paid what was owed.\u201d<\/p>\n\n\n\n

Lovell <\/a><\/strong>accused successive Labour administrations of creating massive arrears and leaving the pension system nearly insolvent by 2004. He cited a total debt of EC\\$464 million owed to the fund by the Labour Party government, including unpaid contributions, defaulted bonds, and treasury bills.<\/p>

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\u201cThese are not opinions\u2014these are facts,\u201d he told the audience. \u201cWhen we came into office, we faced a broken system. We made hard decisions, introduced personal income tax to stabilise revenues, and ensured Social Security could meet its obligations.\u201d<\/p>\n\n\n\n

The former minister also reminded attendees that the Social Security Fund was never meant to be used for electioneering or political projects, pointing to the fund\u2019s origin as a progressive reform established in 1973 under the PLM administration.<\/p>

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\u201cWe respected the purpose of the fund,\u201d he said. \u201cWe understood it was not the government\u2019s money. It belongs to the workers of this country\u2014pensioners, the sick, the disabled, and mothers. Our record reflects that respect.\u201d<\/p>

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Lovell\u2019s remarks come amid growing controversy over a proposed government plan to invest Social Security funds into the Jolly Beach Resort\u2014a move he strongly opposes as risky and mismanaged.<\/p>\n\n\n\n

\u201cAfter mismanaging the country\u2019s finances and failing to account for NAMCO, the government now turns to Social Security for another bailout. It\u2019s disgraceful,\u201d Lovell said.<\/p>\n\n\n\n

He urged the current Social Security Board to stand firm and ensure the fund is not further compromised. \u201cDo not repeat the mistakes of the past. Protect the contributors. Protect the pensioners. That\u2019s your duty,\u201d he said.<\/p>\n\n\n\n

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CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP Lovell Defends UPP\u2019s Record on Social Security, Blasts ABLP for Neglect Former Finance Minister says UPP paid ten times more into pension fund than Labour Party Former Finance Minister Harold Lovell has defended the United Progressive Party\u2019s (UPP) record on Social Security, contrasting it sharply with what […]<\/p>\n","protected":false},"author":12,"featured_media":221209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-241442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nLovell Defends UPP's Commitment to Social Security - Antigua News Room<\/title>\n<meta name=\"description\" content=\"Harold Lovell defends UPP's achievements in Social Security, comparing it to the ABLP's neglect of the fund over decades.\" \/>\n<meta name=\"robots\" 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