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If you're not pro-business, then you're anti-Jamaica, says Stewart
By Julian Richardson Assistant Business Co-ordinator richardsonj@jamaicaobserver.com
Wednesday, March 18, 2009
Observer chairman Gordon 'Butch' Stewart has said that a history of "anti-business" policies by government are to be blamed for Jamaica's current economic plight, and said that the only solution out of the conundrum is if the bureaucrats facilitate a vibrant business environment.
Stewart made the comments yesterday at the launch of the Business Leader Awards at the Observer headquarters on Beechwood Avenue.
"I don't believe that most people in government have a clue what they are playing with when they go and sit from cabinet to parliament," said Stewart. "If you believe that you are going to make a country better, one of the first things you need to attend to is the health and strength of businesses, the environment in which they operate, and what you can do to support those businesses."
Stewart said that Jamaica's economic troubles have only been exacerbated in the current financial crisis. He said that the root the country's woes lied in its crippling debt burden, which currently stands at $1.16 trillion, "This country of Jamaica has borrowed too much money and it is the families that are going to pay it back; not the government," he emphasised. "You won't find the people who are borrowing the money today when the time comes to pay it back; they are only looking to bridge ship with the budget or solve their own problems at a particular time."
Stewart went on to further argue that "demonissing of the business community" by politicians contributed to the collapse of the productive sector in the 1990s, a period in which average interest rates were 53 per cent and over 40 financial institutions folded. He said the country is still suffering from that meltdown today.
"The demonizing of the business community was done by people who never understood business and never understood what their own jobs were all about in terms of nation-building, business-building and economic-building," said Stewart.
The chairman said that the catalysis of exports, through stimulation of the productive sector, is the only way Jamaica will be able to grow its way out of its current economic problems.
"Our way forward can only be through exports; if you can't learn to export you are going to die," he said. "We do it through production, manufacturing, farming and developing enough food to feed ourselves."
He specifically highlighted the agriculture as a sector of of great potential due to the availability of vast, fertile land in Jamaica.
"We can literally feed ourselves in Jamaica; our soil is so fertile that if you leave your finger in the ground for a little while it will start to grow leaves," said Stewart. "If we can genuinely, genuinely feed ourselves, we would be ahead of the game; we can export some of it and we will be buying less from importers."
By Julian Richardson Assistant Business Co-ordinator richardsonj@jamaicaobserver.com
Wednesday, March 18, 2009
Observer chairman Gordon 'Butch' Stewart has said that a history of "anti-business" policies by government are to be blamed for Jamaica's current economic plight, and said that the only solution out of the conundrum is if the bureaucrats facilitate a vibrant business environment.
Stewart made the comments yesterday at the launch of the Business Leader Awards at the Observer headquarters on Beechwood Avenue.
"I don't believe that most people in government have a clue what they are playing with when they go and sit from cabinet to parliament," said Stewart. "If you believe that you are going to make a country better, one of the first things you need to attend to is the health and strength of businesses, the environment in which they operate, and what you can do to support those businesses."
Stewart said that Jamaica's economic troubles have only been exacerbated in the current financial crisis. He said that the root the country's woes lied in its crippling debt burden, which currently stands at $1.16 trillion, "This country of Jamaica has borrowed too much money and it is the families that are going to pay it back; not the government," he emphasised. "You won't find the people who are borrowing the money today when the time comes to pay it back; they are only looking to bridge ship with the budget or solve their own problems at a particular time."
Stewart went on to further argue that "demonissing of the business community" by politicians contributed to the collapse of the productive sector in the 1990s, a period in which average interest rates were 53 per cent and over 40 financial institutions folded. He said the country is still suffering from that meltdown today.
"The demonizing of the business community was done by people who never understood business and never understood what their own jobs were all about in terms of nation-building, business-building and economic-building," said Stewart.
The chairman said that the catalysis of exports, through stimulation of the productive sector, is the only way Jamaica will be able to grow its way out of its current economic problems.
"Our way forward can only be through exports; if you can't learn to export you are going to die," he said. "We do it through production, manufacturing, farming and developing enough food to feed ourselves."
He specifically highlighted the agriculture as a sector of of great potential due to the availability of vast, fertile land in Jamaica.
"We can literally feed ourselves in Jamaica; our soil is so fertile that if you leave your finger in the ground for a little while it will start to grow leaves," said Stewart. "If we can genuinely, genuinely feed ourselves, we would be ahead of the game; we can export some of it and we will be buying less from importers."
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