Criticism of UPP’s Governance Dominates Senator Shoul’s Budget Debate Contribution
Senator Philip Shoul took aim at the United Progressive Party’s (UPP) tenure in government during his contribution to the 2024 budget debate, offering a scathing critique of their policies between 2004 and 2014. He outlined a series of financial and infrastructural challenges that he claimed were created or mishandled by the UPP, leaving the Antigua and Barbuda Labour Party (ABLP) to address these issues.
One of the central points of Senator Shoul’s remarks was the collapse of ABI Bank, the largest indigenous financial institution in the country. He accused the UPP of recklessly borrowing from the bank to finance high-interest short-term bonds. According to Shoul, the UPP’s inability to repay these loans contributed significantly to the bank’s insolvency.
He stated that the Eastern Caribbean Central Bank had issued warnings to ABI Bank’s board of directors to curb borrowing practices and prioritize repayment, but these warnings went unheeded. Shoul noted that upon the ABLP’s return to power in 2014, Prime Minister Gaston Browne had to secure $300 million to stabilize the banking sector and protect depositors.
Shoul also pointed to stalled and incomplete infrastructure projects under the UPP, calling them emblematic of poor governance. He cited the partially built road over Christian Hill and other roads that he claimed were left unfinished or poorly maintained.
He referenced the state of St John’s city, alleging that UPP initiatives, such as closing the gutters and installing ineffective drainage systems, worsened the area’s infrastructure. He dismissed the UPP’s efforts as superficial, describing them as limited to painting sidewalks blue and yellow.
Turning to the Social Security scheme, Shoul accused the UPP of neglecting its responsibilities to statutory bodies, which he said led to arrears in payments. He contrasted this with the ABLP’s record, stating that the Labour Party had contributed over $200 million to the scheme since 2014.
He acknowledged that the government had deferred contributions in 2024 but assured that payments would resume and arrears would be cleared.
Shoul also criticized the UPP’s handling of key assets such as Half Moon Bay and West Indies Oil Company. He argued that the UPP’s decisions led to financial burdens, which the ABLP later resolved. He credited the Labour Party’s leadership for negotiating debt forgiveness and restoring profitability to entities such as West Indies Oil.
Shoul said the ABLP government had inherited significant debts and liabilities, including $140 million owed due to a Privy Council judgment involving the Antigua Power Company. He described these debts as a burden created by the UPP’s mismanagement.
Throughout his speech, Shoul contrasted the UPP’s governance with the ABLP’s policies, which he said prioritized economic growth and infrastructure development. He cited improvements in debt-to-GDP ratios and ongoing road repairs as evidence of progress.
The Senator closed by urging the opposition to acknowledge the challenges created during their tenure and support the current administration’s efforts to address them.
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Shoul the ABLP made sure and is still making sure, that folks like you and family’s slices of bread (Antigua lands and other resources) are buttered on all sides with fat and lard from the pork barrel deals over the years. Why would you say anything less? Folks like you only want to use the base of Labour as always was the case.
WELL DONE AND WELL SAID SENATOR SHOUL!! You hit more runs than brian lara with your budget debate.
Probably does more reaearch and has the facts and statistics all the time. He does not just talk he backs up his talk with facts and figures that cannot be disputed. The UPPites may not like to hear what he has to say and they do not like the truth. Keep it up Senator Shoul. Hopefully our people will learn to understand the message. Facts are facts.
Dude, you are trying so hard to be accepted by the black nearga and dem and it is working. You have them believing you are one of them. That way you can continue to fleece them with their eyes wide open when you get all the good contracts as they cheer you on.
Have to hand it to you. Your plan is working. The idiots believe you are one of them. Including the dumb red kool aid drinking women who make moisture when they hear you call their name on that radio station.
Wat a ting.