I reiterate that reducing custom duties on price controlled food items will be not only bad for Government finances, but also adversely impact all distributors of such price controlled goods, including wholesalers, supermarkets and small village shops, in particular; and will force many of those operators out of business. CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.
Such a decision by any Government would represent bad public policy for the following reasons:
1) Most banks depend on Business Plans or Budgetary Forecasts for the purpose of approving business loans, and when Accountants assist businesses in producing such Financial Projections for banks, no one can expect Governments to just suddenly change parameters such as tax levels. So, in effect, when a Government make a decision like that, what they in fact do is to f**k up the businesses and banks in the country.
So, Sir, you are aspiring to become the Prime Minister of the country, there is a serious error in what you are proposing. I cannot recall the Antigua Labour Party (ALP), or Antigua And Barbuda Labour Party (ABLP) ever making a mistake like that. You need to get someone in your United Progressive Party (UPP), who is trained and possibly experienced in subjects like Finance, Accounting, Economics, Mathematics and Statistics to do the Math for you, and explain it to you, so that you don’t keep on presenting such bullshit to the people of Antigua and Barbuda in your election campaign.
2) As someone remarked recently, you are the only one speaking for your party; you don’t have a Shadow Cabinet. This suggests that you lack confidence in your colleagues. But, it’s quite possible that there are some real good guys in your slate of candidates, and you should be exposing them to the electorate.
Man, at least discuss your proposal to reduce Custom Taxes with other qualified people in your party, or talk to a Consultant, and obtain proper advice before you bring this bullshit back to the people of Antigua and Barbuda once again.
3. By the way, rather than reducing Customs Duties, why don’t you consider raising the Minimum Wage or increasing Salaries and Wages in the country generally. Ofcourse, you are ready to do that, because you are afraid that the country will import more than we have foreign exchange to pay for. So, you will need to transform the nation’s economy, like what Democratic National Alliance (DNA) keeps talking about. Think of transformation man: that will provide you with real solutions.
ROY R. JACKSON, PH.D (ACCOUNTING)
CHARTERED ACCOUNTANT, AUDITOR & INTERNATIONAL ECONOMIST
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Roy you are a perfect wet Kunt
Roy Jackson you are really an accountant and not an economist. It is consumer demand that drives an economy so the reduction of custom duties on food cannot destroy businesses. In fact it would have the opposite effect by increasing consumer demand. Remember as well that poor people have a higher propensity to spend and will always spend their extra income on food etc for survival. The best way to boost economic activity through consumption is to give the money to poor people since they are not going to save it. It is people with discretionary income and large salaries that will save. Poor people do not have that luxury.
Who ever took the time to write this you’re talking bull shit,businesses in Antigua only gets support from the upper class or the rich in this country??Ah poor people keep businesses open in Antigua, the rich class in Antigua don’t shop here they import their goods and product………..Mr.lovell and his team is on the right path,price control don’t work in Antigua….The shop keepers or store owners always pay price controllers to turn a blind eye……..Some businesses in Antigua need to close in fact,because daily they gain their wealth by ripping off people with their ridiculous high prices…….An I will say again CLOSE ……DEM WICKED WITH THEM PRICES
Roy…dem #UPPNEARGA ah go get riled up now. Me ah wait fuh see dem attack you like a pit bull. Everyone knows Lovell talking nonsense with their planned policies or should I say folicies.
You keep repeating that line every time one of the minions write a stupid article – goes to show it was all orchestrated!!!!
First of all anyone who come to a public forum to make such an important argument and comes with profanity is a sure sign that the message is Bull shit. I can’t believe that crap is coming out of a PhD but then again I know quite a few PhD’s. Roy Increase in Minimum wage will kill employers. What is needed is to make starting businesses much more easy with light fees and incentives to employ others so we can put more people in the Social Security system so pensioners can get paid. There should be no tax on Food or essential products period and the only reason the country struggles is because of lack of creative ideas and experience and arrogance. I’m out
Writer you are an ass. lowering customs duties will make good more affordable and more people can afford to purchase making the demand higher and the turn around faster putting more money in the business owners pockets.
Please Mr Jackson
Stop masquerading as a Chartered Accountant with a Doctorate.
I worked with you for years at APUA and I know for a fact the credentials that you are claiming are fake- you lacked competence, so much so that you couldn’t even pass a journal entry.
You are no better than the ABLP minions like Troy Allen who presented fake certificates to get a job.
Mr Lovell on the other hand is not only a lawyer but has a Masters in law.
Furthermore, poor people would welcome the reduction in food.
Are you angling for a job with the current incompetent administration.
They are right up your street.
USEFUL IDIOT
Arrr there’s nothing like a little unbiased “Fu*#ed” up cup of☕ tea to start the morning.
What I find very hypocritical is when the ABLP said they will reduce taxes, more jobs, 500 houses in 500 days. There was no questions alot of gullible supports just swallowed everything.
People condemn UPP to go to the IMF but they didn’t see the cause was the ABLP mismanagement and leave the treasury empty, although I was not for the CIP that program helps to counteract going to the IMF by raising monies to pay off the loan.
The most biased thing I found is ABLP will take loans from 6 different entity with high interest but blind supporters talks about IMF. 6 loans is more than 1 loan, it has to be repaid, because of corruption alot of people are not aware of who when and what are the find prints of the loans even the lenders are undisclosed.
When you are hiding something it must be some form of corruption!
Point #1. So based on your enlightened opinion, wouldn’t price changes and fluctuations on the global market also (using your doctorate level words) “f**k up” the businesses and banks the same way as you described? Since one would of submitted a business plan based on corn meal costing $x/lb but the supplier overseas now has a different price after your proposal, before it even reaches here?
Point #1b & #2. Oh, ok. Politics. Yawn.
Point #3. I cant comment on the overall impact of such a move, but using your gripe from #1 Wouldn’t raising the salaries have the same “fxxk up” effect on a proposal just submitted to the bank, since a fancy accountant like you already projected that year’s expenditure?
Point #3b more politics.
For someone who, based on your title at least, spent years studying finances, why was your suggestion on a solution so short in comparison to the rest of your musings.
Anyways let me finish my non highly educated ramblings with something political so I seem relevant. Go Green! Lol, smh.
Power and greed is hard to let go especially when one is extremely greedy. These are paid ABLP writers who are self centered like there masters
One thing the last 2 years has taught me is that a PHD doesn’t mean much when it comes to making decisions that affect other people’s lives.
– How can lowering the cost of importing an item negatively affect a business that sells it?
– Any sensible person working with figures is capable of recalculating their results when any of the figures change.
– Even so, if a bank approves funding for a project based on a certain tax rate, they will be in an even better position to provide funding if the cost of doing that project now decreases.
– I’m not saying decreasing duties will not reduce the amount in government’s coffers but why feed the govt when the people can feed themselves?
– About increasing the minimum wage…sounds nice and socialist but where is the money going to come from? Yes, it means the bigger companies will be able to manage it but what it will do is put the smaller ones out of business, or is that the plan? How about making it easier for people to start businesses, then they can pay themselves as little or as much as they want.
The fact that there’s now a PLETHORA of favourable editorial letters supporting the ABLP, suggests to me that the General Election is imminent.
In recent times, the imbalance of letters hasn’t done any favours for the DNA or the UPP parties. Without a shadow of a doubt there is now a co-ordinated and concentrated effort ABLP acolytes to coerce, indoctrinated and inculcate Antiguans before the election.
WILL THIS LOCKSTEP MOVEMENT WORK?
ONLY TIME WILL TELL …!
Hey Brix: It nar go wuk this time! Me a still wait for me pension!
@jackson
I am a Certified Accountant and I have never read such bull shit from someone purporting to be a certified accountant. Since when reducing duty on food items going to have a negative impact on businesses? All it does is reduce the cost of imported food and this cost reduction should be passed on to the consumers.
You are a fraud and your are making qualified accountants look stupid.
He really took time to write this drivel? Old people just say ” stone under water, no known when sun hot”
Hey Brix: It nar go wuk this time! Me a still wait for me pension!
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