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, securities, etcetera).
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?
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?
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.
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.
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.
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.
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) 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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
PLEASE HIRE EXPERTS WITH ADVANCE DEGREES OR ACCEPT THOSE OFFERING YOU EXPERT ADVISE FOR FREE.
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.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
A very good opinion piece that goes to the root of ABLP’S fiscal, financial and current economic problems. Spot on!
Very interesting points. I am a big believer in seeking council (via researching multiple sources, speaking to relevant informed and educated people, and for me personally even prayer and meditation on the Word) before making a decision. So, I agree that experts should be in many of these positions and that merit should be placed before friendship when hiring for top posts etc. However, I do believe that the average layperson sees life with a different lens than the trained expert and their opinions from their perspective are also important to include and consider. E.g. no country’s economy is perfect despite the many economic theories and trained economists out there so the theories must be lacking something… E.g. Very interesting points were made in this article about increasing circulation of money and government revenues by forcing hotels etc. to use a lot of local produce. Sounds like a great idea. But, I don’t agree that the economy should be based on tourism alone and no taxes. During the Covid pandemic, tourism almost shut down. The country had to take great risks to open early because of this dependence. Otherwise people might have starved. So, because life is not completely predictable, revenues should come from multiple sources and industries, not just tourism alone. There are other ways to attract income from foreign sources these days via online means etc. And, trading within our region is beneficial to strengthen the entire region’s economy and allow goods to be available in case an emergency makes it difficult to produce locally or import internationally. So, more than tourism needs to be considered. Also, over time old hotels should be sold to more local groups to maximise local income. Just my layperson’s opinion.
*seeking counsel – correction
I love your response. Thank you.
I do not believe tourism should be the only way to gain revenue but I do believe it should be used to the fullest of its ability to ease burden on the locals.
I genuinely believe experts should be at the helm with lay person being a part. There are more lay person at the helm in Antigua and Barbuda than experts.
But I do love your logical response to what I have written. Thank you.
https://www.facebook.com/watch/live/?ref=watch_permalink&v=3699837776966280
Writer perhaps you missed the Financial Secretary’s interview on ABSTV
Just click on the link and watch and learn. And if you have questions feel free to call Rosano herself directly at her office at the ministry. I’m sure she would be quite willing to teach you on Finance and Economics. And don’t insult our local professionals in the Ministery. They are very qualified and capable. I sense this is a case of looking down on your own, because of the color of their skin.
“…Writer perhaps you missed the Financial Secretary’s interview on ABSTV”.
Again, look at how @ From The Sideline is quoting from the government’s mouthpiece ABS.
Their so-called journalists never take any ABLP government members or officials to task unlike our female hackette, Nikki Phoenix or other investigative reporters.
ABS’ journalistic questions are way too lightweight, and it’s like dem ‘fraid for dem jobs if they ask any kind of awkward or even challenging questions.
SO ONCE AGAIN, SIDEY’S FIGURES AND QUOTATIONS ARE SUSPECT – AS USUAL!
Leave de studio you myopic fool!!!
@ The Sidekine
I love to learn but at this time they need to learn from us. If they were learning from us, increase in taxes would not be HAPPENING at this time. It is time they listen to regular folks and experts since their way in which you are telling me to listen is causing tax increase at a time I am confident could have been avoided.
IT IS TIME THEY LISTEN. NO STEERING FOR PEOPLE TO BE QUIET AND LISTEN. THEY NEED NOW TO BE QUIET AND LISTEN.
This is why they constantly get it wrong. Listen to someone who made it happen already independently and legally.
You are contridicting yourself. if you really want to learn then YOU listen to them and ask them your questions and make YOUR suggestions to them.
Heheheee🤣🤣🤣 @ From The Sideline ah run from Brixtonian, and attacking others.
Again Sidey, you can run but you can’t hide from people like me who THOROUGHLY enjoys pulling apart your VERBAL DIARRHEA …
heheheeee 🤣🤣🤣
@Sideline, you have to read to comprehend what is being said. I am not hear for lessons om this topic. I am here to educate on this topic.
Why do I want to learn increasing of taxes on poor people? When my ideas are better than that.
The powers that be have no interest in having things grown nor manufactured locally in Antigua. The big money merchants make more when they import carrots, potatoes, tomatoes, etc, so there is no interest in buying from the locals, and so there is no incentive to encourage locals to grow these produce. Unfortunately, those who lead us allow them to kill local production in exchange for campaign funding.
They bring all kinds of snacks into the place and swell up our children with sickness and fat. You could hear them complaining about juvenile diabetes while they clear the big stash of snacks and sodas at Customs.
The Financial and Economic Experts all know what to do to make things right. They did this when the UPP was in power. Hell, they even bullied the minister if they did not get their way. Now, THEY DON’T DARE SAY NO when the bully they have now as a boss tell them it’s yes. They had trang for Lovell but they fraid the Dawg.
Gaston Browne has no desire to listen to them. He is not taxing the hell out of us because he thinks it’s best for us. He is doing this because he has no idea how to create economic opportunities for the people, and like the coldblooded bastard that he is, he takes the path of least resistance.
The money we made from the CIP has disappeared into a black hole in the Middle East, and the money we should earn from fees and charges and good tax stay with those who get all the incentives and concessions and duty free, etc. Score one for the rich people, and zero for the poor people.
And through it all, the bright bulbs among us are busy giving Gaston Browne advice on how to make money and save money for us. But nobody understands Antiguans like Gaston Browne. He even tells us what deeds he plans to commit ahead of time, and he still gets away with it. He tells us what crimes he has committed (like transferring voters to pad another constituency), AND HE STILL GETS AWAY WITH IT. You see, he knows us. He can read us like a book. There are those of us who are still hoping he would change. He lies and says he has a masters degree in economics. But he does not need all that to succeed. He is playing all of us with our big time degrees and high class learning. He’s a master class in con.
Stop trying to tell this Administration how to manage. They have no interest in managing well. There is money and power in maladministration.
Gaston has us right where he wants us. We are busy picketing, advising, being guests on all the talk shows, while he is showboating, lying through his teeth about everything under the sun and still getting away with it.
I am working on two theories about this malevolent leader we have here. One is that he is a great hater of black Antiguans and Barbudans. The other is, according to a devout Christian who does not believe in the occult but is now making an exception, he is the son of Satan.
@Son… Although I understand your perspective that often those in charge are not interested is good governance practices because some gain benefits from some corruption in the system, I disagree that people should stop giving advice. Occasionally the government does implement some of the suggestions made even if it is only to look good or avoid embarrassment. Also, even if they ignore it, other persons e.g. young people are enlightened and will have ideas to use when it is their turn in the future as nothing lasts forever. Finally, persons can create change in the private sector using the ideas. Government does not have to do everything and people don’t always need to sit around suffering waiting for the government to assist. If the government is ignoring you, you can also ignore them by teaming up with others to start businesses and develop the country in the way that you prefer. Eventually they will have to pay attention to you.
@Son Although ideally inappropriate actions by leaders should theoretically be punished when warranted after a proper fair investigation to determine the facts of the situation, there are pros and cons to spending/wasting time and money on such activities. People who are struggling to survive would often rather have those resources spent on creating avenues for them to survive and fixing systems to prevent future misuse. Some parties spend so much time after they win trying to punish their opponents that they don’t accomplish anything useful for the country. Sometimes it is best to turn the other cheek and move on. Everyone knows that power corrupts. So, people don’t realistically expect those in power to behave perfectly as long as they don’t go to extremes of targeting innocent people, committing serious crimes etc.
@ Ideas
Your response is exactly what Son is complaining about.
Your writing is full of all kinds of learned stuff that people don’t care about. They want to hear things that are facts and simply put, not all this highfaluting kind of talk.
Son is right.
You guys are too damn bright and write all this stuff to sound bright.
You are not going to compete with Gaston that way because the ordinary man out there first does not understand you and next does not have any patience with your high sounding talk.
Gaston Brown understands that. As a young man with a family trying to make it I want to hear about now, not later after there is nothing left for me to live a decent life.
The person who wrote this declare ur degree
Absolutely correct @ Son, I also noticed the herranging of the UPP when they were in government by the ABLP and their many detractors on monetary and financial matters.
And now when the boot is on the other foot, it seem like many many people ‘fraid to query, question or quiz Gaston Browne on the same matters, even though the economy is worse, because he’s having to raise taxes.
ECONOMIC POWERHOUSE ME BACKFOOT-SHOE BOTTOM!
When you have a culture where it is forbidden to question the minister’s directives no amount of degrees can help. A former deputy once told he obeys every order given to him whether it is right or wrong. Former MBS accountant said …when the minister say pay he pay. A prominent business man said the whole country belongs to the prime minister. In a country where ham and turkey score points with the population.
ANTIGUA GONE GONE…BARBUDA FOLLOWING BEHIND. ONLY JESUS CAN SAVE US NOW
@Dion Pelle,
You are completely correct. Hopefully I change that. I am taking the abuse to teach some one of the new generations to question and to innovate. No matter how abusive the abusers are.
I would be very blunt as I always have on this very forum about the antics of this current administration, and although each person certainly have the right to voice their opinions and give advice, I will surmise by this very blunt fact.
“Antigua is not going anywhere forward with this current administration, no where”
History has shown us in the last 9 years they have been in power, that the do not have the propensity to listen to anyone outside their circle.
That has been proven over and over again..with the Alpha Nero, with the immigration debacle with Africans, with debacle and tussling trying to resurrect liat with this terrible proposed Air Peace deal , and the lust goes on and on.
So while we here continually advising this current administration and put all these things on the table, this corrupt, inept administration simple does not give a damn, period point blank!!!
I ment to say ” the list goes on and on” but I might as well leave it at ” the lust goes on and on” to backside, because this money 🤑 grabbing administration is just stealing the peoples money for themselves. Antigua is broken (broke) in so many ways because of this lackadaisical and corrupt administration, and that’s a fact.
Comments are closed.