Prime Minister Gaston Browne has cited data from the Financial Secretary’s office showing that government debt to the Antigua and Barbuda Social Security Board increased by about $172 million during the United Progressive Party (UPP) administration.
Speaking on the Browne and Browne Show on Pointe FM, Browne referred to an official document prepared by the Director of Social Security and the Financial Secretary titled “Government Indebtedness 2004 to Present.”
According to figures read on air, the debt stood at $366 million in 2003 at the end of the Antigua Labour Party administration and climbed to $538 million by 2013 under the UPP government — a rise of approximately $172 million. “By the end of 2013, the amount due to Social Security was $538 million,” Browne said. “It started at 366, so that tells you it increased.”
Browne said the data refuted former Finance Minister Harold Lovell’s claim that the UPP never borrowed from the Social Security Board. He argued that failure to make required contributions amounted to a form of borrowing.
“You didn’t borrow, but you did not pay your contribution,” Browne said. “It’s a form of borrowing, because what you’re doing is getting funded by the arrears.”
He added that since taking office, his administration has reduced the debt through regular payments and a pending asset swap involving the Jolly Beach property, which is expected to further lower the government’s outstanding liability.
The figures from the Financial Secretary’s report were used by Browne to illustrate what he described as the difference between “debt creation and debt resolution,” as he defended his government’s record of bringing the Social Security scheme closer to financial stability.
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The Finance Minister and to make it worst, he worked under the WICKED SUNSHINE GOVERNMENT too!
Thee WORST Finance Minister and to make it worst, he worked under the WICKED SUNSHINE GOVERNMENT too!
Gaston Browne’s desperation is here for all to see my fellow critical thinking Antiguans.
The fact is, that if the Honourable Harold Lovell hadn’t re-entered the political arena again, Browne wouldn’t have payed him any mind, because he would have seen Mr Lovell as a defeated UPP irrelevance. I bet he still does.
However, having said this, the candidate for All Saints West has touched a raw nerve by highlighting the Prime Minister’s nonsensical Jolly Beach Resort so-called 10 year “get rich” scheme which is doomed to fail due to his misguided placing of ALL the $75 million of taxpayers money into one basket.
Keep pushing he buttons your Most Honourable Mr Lovell.
WHAT A RETURN TO POLITICS SIR 👍🏾
A drowning man will grasp at a straw.
Did Mathias make that statement of his own free will?
No.
He must have been pressured. He has been on several programs speaking about the Soxial Security.
Never did he make such declaration.
Suddenly as an election approaches he discovers that information.
Really?
It is absolutely untrue. Thats a political statement intended to do harm to Harold Lovell.
It will not work.
Send them rass crazy Harold. Just waiting for the number 1 Ass Licker to come with his spin too, it will happen before the day is over. UPP never barrow not one damn sent and that’s a fact. Gaston can do all the spinning he wants. We understand what is borrowing so you can twis and tun