A People’s Budget

Aug 09, 2015 APNU Column, Features / Columnists

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Tomorrow, Monday August 10th, is Budget Day. The 2015 estimates will be laid in the National Assembly by Minster of Finance Mr Winston Jordan MP, in what has traditionally become known as the ‘Budget Speech’. A Partnership for National Unity (APNU) is assured that Budget 2015 will be one that meets the approval of all Guyanese.  APNU believes that all Guyanese aspire to a good life, and that government spending has to be done in relation to the achieving of that good life.
In his address to the 11th Parliament of Guyana, President David Granger said, “Those of us who were elected have work to do.  We have a responsibility to represent the people.  We have an obligation to speak for them.  We have a duty to serve their interests.   They have put their trust in us.   That is why we are here…
Your Government is aware that too many very young and very old persons are still classified as ‘extremely poor’ with an expenditure level that is below what is required to purchase a minimum, daily, low-cost diet. Poverty can be reduced and, perhaps, eventually eradicated with good governance and the sensible public policies that we shall introduce”.
Budget 2015 will begin the process of addressing many of these problems. The budget will also address promises made by A Partnership for National Unity and The Alliance for Change (APNU+AFC) in our 100-day plan, these include a moderate increase in the old age pension and an increase in the wages and salaries for public servants. This budget will deliver on those promises.
Budget 2015 sets the tone for the way in which Guyana will be governed.  The new Coalition government is committed to and will be employing a new approach to the management of the country’s resources with the aim of setting up the framework for how the administration will be approaching the governance of the economy over the next five years.
This new approach includes a focus on better governance, social cohesion, building safer communities, linking the coastland with the hinterland, taking care of the environment, emphasising green technology, support for the implementation of environmentally-friendly processes for the extractive sector and the creation of a sovereign wealth fund. In the words of President Granger, “Government envisages a prosperous Guyana.  We shall craft a long-term, national economic strategy that will ensure economic stability and social security, raise the productive potential of the economy and improve the quality of life for all.”
The economic and social benefits of linking the coastland with the hinterland will be enormous. The lives of Guyanese living in far-flung communities will improve; a lower cost of living, job creation, the efficient and inexpensive delivery of goods and services, are but some of the positive benefits deriving from such a policy.
GREENING THE ECONOMY
There are significant economic opportunities for countries that manufacture and produce clean energy. Greening the energy sector in Guyana, by substantially increasing investment in renewable energy, provides an opportunity to make a significant contribution to addressing the challenges of 1) concerns  about energy security; 2) combating climate change; 3) reducing pollution and public-health hazards; and 4) addressing energy poverty.
By placing environmental protection at the forefront of a ‘green ‘ energy sector the government will send a clear signal to those that are involved in the sector and potential investors that our natural resources can be exploited in a way that ensures sustainability  while becoming an economic driver, which provides cheaper energy sources, creates jobs and ensures public health.
Supporting our Extractive sector is not only good economics but also good common sense. This industry has been the country’s largest foreign currency earner for several years. There should be no doubt that the national economy could be significantly enhanced and the livelihood of hinterland residents and miners enriched if the industry is placed on a surer economic footing.
The establishment of a Sovereign Wealth Fund, derived from revenues from our forests, mines, waters, lands and other natural resources, will ensure that revenues from our national patrimony are not squandered in the short term, but will be put aside to benefit generations to come.
When APNU was launched on the 15th July 2011, we promised a good life for all Guyanese, we have never deviated from that promise; Budget 2015 is another step towards achieving that good life.
At his inauguration President Granger challenged the nation to reach for that good life when he said, “we must undo the damage to our country and undertake the task of rebuilding our economy.  Our engineers must build roads and bridges across our great rivers.  Our scientists must seek solutions to our annual cycle of floods and drought.  Our manufacturers must make more products.  Our diplomats must open more markets for us to sell our goods.  We must make more jewellery from our gold and diamond.  We must make more world-class furniture from our timber. We must make more packaged and preserved food from our fish, fruit, meats, milk and vegetables. We must make them so we can sell them to our Caribbean brothers and sisters if we are to prosper.”

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