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The rationalised 2013 Budget must put less money into the pockets of the ‘fat cats’

Mar 23, 2013 Letters

 

 

Dear Editor,
We want to acknowledge the Alliance For Change (AFC)’s approach to the 2103 National Budget of “rationalising” the estimates.  What the Minister has now clearly established is that he is no expert on Human Development and thus for seven years he failed to craft a human development budget.
The time to rebuild Guyana’s public expenditure architecture is now; the time for fiscal repair is now; the time for dialogue among all political parties is now.  This National Budget must not be an opportunity to avoid the painful process of bringing competition to the public procurement process, thus generating billions in national savings and more importantly reducing the runaway national deficit.
There are some startling discoveries being unraveled on the National Debt to Venezuela and China. For example, the National Debt to Venezuela moved from G$2,500 million in 2006 to G$59,122 million in 2011. (We chose to use Guyana to resonate the number in the minds of ordinary workers).  The debt owed to Venezuela is enough money to build 11,000 two-bedroom homes for Guyanese families free of cost.  The situation with China is even worse.
We use this opportunity to encourage members of the majority opposition to remain committed to their objective of protecting our children’s future by rationalising the 2013 Budget to ensure we continue to live within our means.
There is certainly no need for an increased budget above and beyond the 2012 National Budget.
Secondly, focused attention must be placed on the Capital Budget to ensure every single project over $50 million in size does have a clear justification and proper feasibility studies to support this justification or else rationalise it and defer it to a Supplemental Budget.
Then there is all the “Others” Categories in the Current Budget.  ”Others” were designed to be small insignificant, miscellaneous expenditure that could not be captured in any other line items.  For example in the 2012 National Budget, the PPP stuffed G$732 million into Other Transport, Travel & Postage; G$1,649 million into Other Goods and Services Purchased and G$2,088 million in Other Expenses. Does G$4,469 million appear to be small and insignificant?  .
In our total estimate, some G$50 billion could have been rationalised from the 2012 National Budget and the affairs of State would have been well intact.
We have similar expectations in 2013, but await the announced numbers on Monday.
As a country, since the arrival of Jagdeo, we have grown accustomed to living beyond our means. The direct effects of this mal-administration contributed to a runaway National Debt and an uncontrollable Budget Deficit.  Such public financial reckless must stop. It’s time to put more money into the pockets of those who really need it and less into the pockets of the PPP ‘fat cats’.
It can be done; it must be done; so let it be done!
Dr. Asquith Rose and Harish S Singh

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