APNU cannot deliver on those preposterous financial measures

Oct 08, 2011 Letters

Dear Editor,
So the APNU/PNC plays to the gallery with their announcement of raising the income-tax threshold to $100,000 and reduce the Value-Added Tax (VAT) from 16 per cent to 10 per cent.
I await their proposed salary increase, but from their preliminary announcements, it is clear the APNU has decided that they cannot win the elections so it would be best to promise the sun, the moon and the stars.
I expected better from Carl Greenidge. He comes from a legacy of the Economic Recovery Programme (ERP) which was the foundation that set Guyana up for the recovery under Dr. Asgar Ally.
But being in the position he is, as the losing candidate for Finance Minister, what the heck, why not promise 100% salary increase too, it would not make a difference anyway as the PNC/APNU settle themselves for the worst licking ever in the history of Guyana.
We in the Alliance for Change (AFC) cannot be careless in our financial computations, we are going to be the next Government and thus the people will expect us to act maturely and fiscally responsible. That is why we can only promise the following:
1. Increasing public servant salaries across the board by 20% in 2012 only, costing the country some $7.1 billion per annum;
2. Reducing the VAT from 16% to 12% costing the country some $7.2 billion per annum;
3. Increasing the personal tax-free threshold to $50k and reducing the PAYE to from 33% to 25% costing the country some $4.2 billion per annum;
4. Increasing the old age pension and social assistance by some 50% costing the country some $1.7 billion per annum;
5. Corporation Tax reduction for the private sector costing the country some $2 billion.
This adds up to a total of $22 billion in cost. Of course we have a plan to pay for every single cent of that $22 billion.
If there is anything I know about the next President, Mr. Khemraj Ramjattan, he is the safest, most conservative pair of financial hands I have ever met and he lives his personal life in similar fashion; within his financial resources.
After these elections, there will be opportunities to write books on how he carefully considered dozens of opinions before he supported the 20% salary increase.
He made it clear he will never be the Head of a State that practices PNC type of economics, where the macro-economic fundamentals were dysfunctional and totally populist.
That is why every single item in the AFC’s Action Plan is fully funded with clear streams of funds.
It is our considered view, therefore, that APNU is being fiscally irresponsible and we demand that they produce for the Guyanese people a clear summary of their 2012 Statement of Revenue and Expenditure to justify these reckless announcements.
It is a sin to speak untruths to the people, but it is a bigger sin to mislead the people in the hope of stealing their votes and then when you get into office you cannot deliver. It is clear that APNU cannot deliver on these preposterous financial measures.
In closing, I ask the people to beware of all these sugary-tongue politicians who will promise the world and not deliver. The AFC now has its summary number for the 2012 budget and these numbers will be made public shortly in full compliance with our ambition of practicing politics with principles.
Sasenarine Singh

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APNU cannot deliver on those preposterous financial measures

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