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Budget is a cocktail of “barrow-nomics”, says Lead PUP Senator

Following Senator Lizarraga’s presentation, Lead PUP Senator Eamon Courtenay made his presentation. Senator Courtenay says that the budget has no vision and no plans. He says it is a prime example of a UDP administration of nothing more than a cocktail of “barrow-nomics”.

Eamon Courtney, Senator: “A visionless budget Mr. President. Misleading figures, unsatisfactory program budgeting and once again we have a budget that is lacking in transparency and accountability. What we have before us today on paper but not in reality is a proposal for a primary surplus of 2.22%. And it is noteworthy Mr. President that for the last fiscal year the budget proposed a primary surplus of 3.14% but actually achieved only a surplus of 1.82%. But Mr. President we have to look critically at this proposed 2.22% primary surplus because it is a fiction. It is the product of voodoo accounting. According to the Prime Minister $208 million dollars and I quote “were not factored into the computations of the primary and overall balances.” According to the Prime Minister some IMF regulation says that they can do this and I’m sure Senator Barnett is going to identify it for us because we couldn’t find it. In short Mr. President we are facing a fiscal crisis and those who have drank the red Kool-Aid will say that is PUP’s fault,  that is what we will hear shortly. Well we on this side say it is time to man up UDP, time to man up. Mr. President we say the government must accept responsibility for the present state of affairs because unless it does so, unless it does so we cannot be led out of the economic darkness.”