APNU/AFC has nothing to show for billions spent – Teixeira

…‘it’s not about how much you have, but how you use it’ – Indar on Opposition’s ‘no oil money’ claim

Governance and Parliamentary Affairs Minister Gail Teixeira has highlighted how the A Partnership for National Unity/Alliance For Change (APNU/AFC) Coalition depleted the country’s resources during their term in office with nothing tangible to show for their massive spending.
The Coalition Opposition has been arguing that they were unable to make any major investments or undertake developmental projects in Guyana since they did not have ‘oil money’ during their 2015-2020 term in office.
However, Minister Teixeira has dismissed this as an excuse for the People’s National Congress Reform (PNCR)-led Coalition’s bad economic and development policies.
“Vindictiveness and small mindedness don’t move a country forward, doesn’t help develop a country. You on your own – you, in the APNU+AFC – held back the forward movement of this country. You’ve taken anti-national positions against the people of this country,” the minister noted.
According to Teixeira, the previous PPP/C Administration had left behind sufficient resources back in 2015 when the Coalition took office but they could not account for it by the end of their term. In fact, she disclosed that some $14.2 billion in gold reserves were left in 2015 but this went down to $635 million by December 2019. Similarly, foreign currency reserves in 2015 were over US$700 million and reduced to US$200 million by 2020.
“Where the money gone? Where did the money go – never accounted for… So, don’t tell us you don’t have money…take shame off yuh face and come clean,” she contended.
Moreover, Teixeira pointed out that between 2015 and 2019, the accumulated Budget under the Coalition was $1.2 trillion but there is nothing to show for it.
“What did they do with it? Where is it? What is there to show for it? At least [former PNC President Forbes] Burnham could say he built [the Linden] Soesdyke Highway and he built the Demerara floating bridge. They can’t say one project – not one project is a legacy for them in government; not one.”
The governance minister went on to remind of the state of the country back in 1992 when the People’s Progressive Party/Civic (PPP/C) took office and even in that “hard guava season” with nearly all sectors collapsed, they were still able to remove Guyana as one of the most indebted and poorest countries in the hemisphere.
“How is it that every time PPP/C is in government, this country moves forward even in the most difficult times… I don’t know if we got good juju but somehow when the APNU gets in there, the country starts removing,” she posited.
The minister explained that as a young democracy, Guyana’s economy needed to be treated a certain way in order to ensure progress – something which the PNC-led Opposition has failed to learn over the years.
“In order to have money or spend money, you have to invest money; money has to circulate. Giving subsidies without agriculture, housing, infrastructure – you are building on quicksand… The last time in government, your formula for development was taxes. You taxed… and it shows the amount of tax [revenues] you were making; however, where did it go?… It cannot be explained. Not one legacy project…”
Minister Teixeira further noted that the Opposition’s 2025 Manifesto is devoid of any economic strategy and has nothing to offer Guyanese. She stressed that the Opposition needs to keep abreast with the fast pace of development that the country is undergoing otherwise they would just be holding back Guyana’s progress.
“You’re a bunch of spoilers… The party that says it got 217,000 votes in 2020 has come with such a hackneyed, myopic approach to the economic and social development of our country. I would like to see my friends on the other side, rise to the occasion. This country is moving forward like never before and if they don’t see it then it’s a problem because the rest of the Guyanese people see it every day. They see opportunities…”
“The Guyanese people have seen change, smelt it and they want more. And they will get more under this People’s Progressive Party/Civic… APNU+AFC needs to wake up and smell the roses… Whether you support or not, this country is moving. Nobody is going to stop it now. Our beautiful Guyana, our blessed nation has gotten a taste of progress and movement forward. People have a taste for the future – hope, optimism and they ain’t gonna want it reverse at all,” the government minister declared.
Failing to deliver
Meanwhile, Minister within the Public Works Ministry, Deodat Indar has mocked the lack of oil revenues claims, reminding that the former administration collected $90 billion annually from increased taxes and yet, there is nothing to show for how they spent it.
He made the remark during his contribution to the 2025 budget debate on Wednesday evening.
“Yuh stifle growth, you tax everything under the sun…incompetence was the height of it under their management. It’s not how much money you have, it’s how you use the little that you have…,” Indar said.
“They were collecting $90 billion more in taxes and did nothing with it. You know what $90 billion can do Mr Speaker? $33 billion building 121km of roads in the hinterland, $90 billion cudda build 333km, you know what they did? Zero!”
After entering office in 2020, the Irfaan Ali-led government had reversed over 200 taxes which were imposed under the former APNU/AFC coalition.
Successive budgets of the current PPP administration were financed by no new taxes.
Among other things, the APNU+AFC had imposed taxes or increased taxes on a number of products and services such as tax on private healthcare and private education, Value Added Tax (VAT) on water, electricity, health products, food, drainage and irrigation fees, agriculture land lease rates, mining and agriculture machinery, domestic travel, etc. (G8)