Tweet
The anticipated show down between Finance Minister Audley Shaw and Opposition Spokesman on Finance, Dr. Omar Davies, took an unexpected turn in the House of Representatives Tuesday.
Instead of delivering a scathing criticism of a $15 billion deficit that the government inherited from the People's National Party's administration, the Finance Minister instead delivered a rather tame recital of facts and figures.
After Mr. Shaw's presentation, however, Dr. Davies seized the opportunity to launch a blistering attack on the government.
The fire power anticipated in Mr. Shaw's statement was not forthcoming.
"Until September of this year a number of factors have impacted the previously estimated term for the fiscal year. These include the impact of Hurricane Dean, interest rate movements, exchange rate movements, and in addition we have identified several items that were non-discretionary expenditure that were clearly not budgeted for in this fiscal year into some $15.4 billion," said Mr. Shaw.
Forewarned by the government Dr. Davies came prepared to take the fight to Mr. Shaw.
In what was clearly a strategic move, Leader of Opposition Business, Dr. Peter Phillips, asked the House for latitude to allow the former Finance Minister to respond to Mr. Shaw.
Permission was granted by the house.
Dr. Davies acknowledged that the Finance Minister had steered clear of the issue of concealed fiscal deficit.
But he said other government ministers now faced with the burden of unrealistic election promises, were making unfounded statements.
This gave Dr. Davies the ammunition he needed. He grabbed the opportunity to demand answers from the government.
"This piece of data that I wish to present to the house and to the country relates to the finances and balances on Monday September 3, 2007, bank balances, cash," said Dr. Davies.
"The consolidated fund had a balance of $9.5 billion. The expenditure clearing account had a balance of $4 billion, the revenue accounts had a balance of $1.5 billion and other miscellaneous accounts had a total of $2 billion. I challenge anybody to refute the balances on that day," he continued.
As he continued he was accused by House Leader Derrick Smith of abusing the privilege of parliament.
This claim was refuted by Dr. Phillips.
Later, Prime Minister Bruce Golding told the house that Mr. Shaw's statement had been modified on his instruction.
Instead of delivering a scathing criticism of a $15 billion deficit that the government inherited from the People's National Party's administration, the Finance Minister instead delivered a rather tame recital of facts and figures.
After Mr. Shaw's presentation, however, Dr. Davies seized the opportunity to launch a blistering attack on the government.
The fire power anticipated in Mr. Shaw's statement was not forthcoming.
"Until September of this year a number of factors have impacted the previously estimated term for the fiscal year. These include the impact of Hurricane Dean, interest rate movements, exchange rate movements, and in addition we have identified several items that were non-discretionary expenditure that were clearly not budgeted for in this fiscal year into some $15.4 billion," said Mr. Shaw.
Forewarned by the government Dr. Davies came prepared to take the fight to Mr. Shaw.
In what was clearly a strategic move, Leader of Opposition Business, Dr. Peter Phillips, asked the House for latitude to allow the former Finance Minister to respond to Mr. Shaw.
Permission was granted by the house.
Dr. Davies acknowledged that the Finance Minister had steered clear of the issue of concealed fiscal deficit.
But he said other government ministers now faced with the burden of unrealistic election promises, were making unfounded statements.
This gave Dr. Davies the ammunition he needed. He grabbed the opportunity to demand answers from the government.
"This piece of data that I wish to present to the house and to the country relates to the finances and balances on Monday September 3, 2007, bank balances, cash," said Dr. Davies.
"The consolidated fund had a balance of $9.5 billion. The expenditure clearing account had a balance of $4 billion, the revenue accounts had a balance of $1.5 billion and other miscellaneous accounts had a total of $2 billion. I challenge anybody to refute the balances on that day," he continued.
As he continued he was accused by House Leader Derrick Smith of abusing the privilege of parliament.
This claim was refuted by Dr. Phillips.
Later, Prime Minister Bruce Golding told the house that Mr. Shaw's statement had been modified on his instruction.
Comment