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Published: Thursday | April 30, 2009
ALREADY SADDLED with names such as Man-a-Yard, One-Third and Big Daddy, Finance Minister Audley Shaw could get yet another moniker if Dr Omar Davies' attempt sticks.
"The Trillion-dollar Man, label him that way, the Trillion-dollar Man," Davies said in the House of Representatives on Tuesday.
"When he was over here, he used to tease me about debt approaching one trillion dollars. Him just run past it ... run with it ... run past it," Davies jeered while staring at a pale-faced Shaw.
Davies admitted that when he left office as finance minister in 2007, the country's debt was approximately $950 billion. The country's debt, as at March 31, 2009, stood at $1.2 trillion.
Local policy errors
In his contribution to the Budget Debate Tuesday, Davies blasted Shaw's economic policies.
"A significant percentage of the projected increase in interest payments on domestic debt can be linked to local policy errors leading to loss of investor confidence," Davies argued.
He added: "... The Government's appetite for debt has led to a virtual doubling of interest rates on government paper, from under 12 per cent in October 2007 to the present levels," Davies said.
The opposition spokesman also urged Prime Minister Bruce Golding to get help for Audley Shaw with negotiations with public-sector workers.
Need for support
"I humbly suggest that there is an immediate need for support to be provided in this regard," Davies said.
He added: "It cannot be in the interest of the administration, or indeed the country, for the minister to be bogged down for much of the fiscal year haggling out various issues related to wage settlements, which should have been attended to prior to the beginning of the new fiscal year."
Shaw earned the name One-Third after Prime Minister Golding sandwiched him with Senator Don Wehby and Senator Dwight Nelson in the Ministry of Finance and the Public Service.
Nelson was recently promoted to the post of national security minister and Wehby will be returning to private enterprise in three months.
Davies' proposal was accompanied by laughter from the opposition benches. North West MP Dean Peart laughed and said "Still room for Clive," (
clever) in reference to Clive Mullings, who was recently relieved of his ministerial duties.
daraine.luton@gleanerjm.com
http://www.jamaica-gleaner.com/glean...ad/lead10.html
ALREADY SADDLED with names such as Man-a-Yard, One-Third and Big Daddy, Finance Minister Audley Shaw could get yet another moniker if Dr Omar Davies' attempt sticks.
"The Trillion-dollar Man, label him that way, the Trillion-dollar Man," Davies said in the House of Representatives on Tuesday.
"When he was over here, he used to tease me about debt approaching one trillion dollars. Him just run past it ... run with it ... run past it," Davies jeered while staring at a pale-faced Shaw.
Davies admitted that when he left office as finance minister in 2007, the country's debt was approximately $950 billion. The country's debt, as at March 31, 2009, stood at $1.2 trillion.
Local policy errors
In his contribution to the Budget Debate Tuesday, Davies blasted Shaw's economic policies.
"A significant percentage of the projected increase in interest payments on domestic debt can be linked to local policy errors leading to loss of investor confidence," Davies argued.
He added: "... The Government's appetite for debt has led to a virtual doubling of interest rates on government paper, from under 12 per cent in October 2007 to the present levels," Davies said.
The opposition spokesman also urged Prime Minister Bruce Golding to get help for Audley Shaw with negotiations with public-sector workers.
Need for support
"I humbly suggest that there is an immediate need for support to be provided in this regard," Davies said.
He added: "It cannot be in the interest of the administration, or indeed the country, for the minister to be bogged down for much of the fiscal year haggling out various issues related to wage settlements, which should have been attended to prior to the beginning of the new fiscal year."
Shaw earned the name One-Third after Prime Minister Golding sandwiched him with Senator Don Wehby and Senator Dwight Nelson in the Ministry of Finance and the Public Service.
Nelson was recently promoted to the post of national security minister and Wehby will be returning to private enterprise in three months.
Davies' proposal was accompanied by laughter from the opposition benches. North West MP Dean Peart laughed and said "Still room for Clive," (
clever) in reference to Clive Mullings, who was recently relieved of his ministerial duties.daraine.luton@gleanerjm.com
http://www.jamaica-gleaner.com/glean...ad/lead10.html
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