3rd time yet no signs of “good life” for Guyanese

Dear Editor,
The National Budget is usually a prime opportunity for the government to showcase its roadmap for a country’s fiscal policies, prudent management strategies and robust plans for social and economic development. The Constitution of Guyana prescribed these fundamental budgetary privileges to the Finance Minister under Article 219 to craft the estimated revenues and  expenditures for a financial year. However, the Government of Guyana, A Partnership for National Unity/Alliance for Change has failed to utilise merit of a budget and keep its promises to the Guyanese people. The nation was optimistic that the Coalition Government would have seized their third opportunity to construct a strong budget and deliver on its assurances of accountability, transparency, inclusionary governance and the materialisation of a good life.
Consequently, Budget 2017 has quickly diminished the optimism of the nation due to its inept policies, privation of strategies, and overabundance on taxation. The country is clearly in a state of discontentment and bewilderment because the “utopian coalition regime” has for the third time failed to produce on their campaigned manifestos. Yet, the Minister of Finance saw it fit to commend his Administration on presenting three budgets in just 18 months.
Editor, Finance Minister Winston Jordan’s budget presentation was dressed with many clichés but I think he forgot to include one: it is not the quantity of but quality. It was the minister’s third budgetary presentation and yet no signs of a good life for Guyanese. As such, what are the commendable things from the 2017 budgets? Is it the 14% VAT ordinary Guyanese will be burdened with on water and electricity? Or were the positives, the increased fees/penalties, the substandard commercial policies, the removal of items on the tax exempted list or the draconian policies on the poor and middle-class Guyanese? Conversely, Budget 2017 clearly lacked any comprehensive policies for job creation, attracting investment, stabilising the economy or ensuring more disposable income for the middle class.
Rather Budget 2017 is a taxation budget, one filled of new taxes and penalties, a budget devoid of programmes for the public sector, a budget with no measures for remediation of the sugar/rice industries, or has no programmes to combat the precipitous increase in crimes.
Perhaps, these are the commendable standards for the coalition governmental but for the mass of Guyanese it is not! More alarming, the minister of finance stated the government will issue bonds to finance public programmes.
This is an ominous indication for the investment and multiple sectors of Guyana. Economically once governmental borrowing increases interest rates will rise and will advisedly affect the borrowing abilities of public/private sectors. Therefore, there will be less accessible capital for the public/private sectors to inject in investment or expanding in business. These events complimented with added taxation can the economy to plummet into a recession with increase in the cost of living, higher prices, and unemployment. These are all ominous signs for national and economy wellbeing of Guyana.
If the Coalition Government truly wants to bring growth and stabilise a failing economy, it must revisit the 2017 budget measures. We must remember, it was the A Partnership For National Unity/Alliance For Change coalition, that campaigned heavily on offering 20 per cent increase to the public sector, revitalisation of the sugar industry, attracting new markets for the rice industry – assuring 00 per bag, and “stamp out” corruption.
However, the reality of 18 months in Government tells a different story on their achievement on campaign words. Many Guyanese now realised they were lured by the Coalition’s malarkey.
Rather, the Guyanese people saw this administration granting themselves a 50 per cent salary increase but for the third time giving nothing to the public sector.
Budget 2017 has all the hallmarks of a dismal future for Guyana and its immediate effects are already evident in many areas of Guyana. What can Guyanese expect over the next quarter if this budget is passed in the National Assembly?
Guyanese can anticipate a deeper recession with economic downturn, rise in unemployment, closure of more businesses, increase in prices, escalation in the cost of living, contracting in the economy and further increases in hideous crime.
Sadly, it is the ordinary and poor Guyanese who will face the brunt of this anaemic budget. I urge the Finance Minister to withdraw this budget before it devastates the livelihood of Guyanese and the image of Guyana! Many Guyanese are bemoaning this budget, even the stronghold supports of the Coalition.
Editor, I apprehensively hope the Government amend the measures of Budget 2017 and before it gets to the appropriation bill and truly deliver a “good life” to all Guyanese.

Yours Sincerely,
Mahendra Hariraj