Tweet
Hotelier slams administration’ approach to business sector
BY PATRICK FOSTER Observer staff reporter fosterp@jamaicaobserver
Wednesday, August 11, 2010
‘BUTCH’ Stewart does not share the view that Jamaica is a failed state. However, the Sandals Resorts and Jamaica Observer chairman feels the country could become one if the Government does not change its approach to businesses and curtail its borrowing habit.
Speaking yesterday at the launch of the Observer’s annual Business Leader Awards, Stewart said that the Government had to unburden the business sector through more investmentfriendly policies that were “properly thought out”.
“I don’t believe that Jamaica is a failed state,” Stewart told business leaders attending the launch held at the newspaper’s Beechwood Avenue headquarters. “I believe, though, that if we continue doing much of the same that we continue to do from an economic point of view then we will become a failed state. You can only borrow for so long”.
“We keep doing more of the same and continue to expect different results,” Stewart declared.
He strongly argued that the Government had to recognise the role that the business sector played in the local economy, and address the problems affecting the sector.
“The money that we keep borrowing these days to bridge the budget we only borrow it because the businesses are not doing well enough to support the needs of the country,” charged Stewart, who is also chairman of the Government’s investment arm JAMPRO.
“We [Jamaica] are not doing well because the businesses are not doing well,” he said, adding that the country is made up of businesses and “the living standard of the country is only as good as the businesses”.
According to Stewart, a reduction in taxes from the business sector significantly curtailed government’s ability to provide basic services such as the repair of roads. “There is nowhere else to get taxation to build roads, to build hospitals, nowhere else than through businesses,” he said. Stewart further contended that while some ills in the system were repeatedly blamed on bureaucracy, strong leadership at the Government level should deal with those problems. He argued that it was almost impossible for small entrepreneurs to survive in the current business environment. “A small man starting business cannot succeed in this country unless he is willing to play all sort of games,” said Stewart. He added that the money needed to finance imports on the wharf was inflated as goods are kept up to three months before being cleared.
“With all the different costs they force you to keep it on the wharf, then they force you to pay storage,” said Stewart. “By holding up businesses you are holding up progress,” he added. At the same time, Stewart described the Government’s recent announcement of the complete removal of waivers as one policy that was not properly thought through. He contended that the manufacturing sector had to be facilitated in order to be competitive. If the Government cannot get its act together, he said, then it will fail on the economy just like the previous Government and others before did. The Observer Business Leader Awards will this year recognise the contribution made to the local economy by foreign companies.
http://www.jamaicaobserver.com/news/...h--tells-Gov-t
BY PATRICK FOSTER Observer staff reporter fosterp@jamaicaobserver
Wednesday, August 11, 2010
‘BUTCH’ Stewart does not share the view that Jamaica is a failed state. However, the Sandals Resorts and Jamaica Observer chairman feels the country could become one if the Government does not change its approach to businesses and curtail its borrowing habit.
Speaking yesterday at the launch of the Observer’s annual Business Leader Awards, Stewart said that the Government had to unburden the business sector through more investmentfriendly policies that were “properly thought out”.
“I don’t believe that Jamaica is a failed state,” Stewart told business leaders attending the launch held at the newspaper’s Beechwood Avenue headquarters. “I believe, though, that if we continue doing much of the same that we continue to do from an economic point of view then we will become a failed state. You can only borrow for so long”.
“We keep doing more of the same and continue to expect different results,” Stewart declared.
He strongly argued that the Government had to recognise the role that the business sector played in the local economy, and address the problems affecting the sector.
“The money that we keep borrowing these days to bridge the budget we only borrow it because the businesses are not doing well enough to support the needs of the country,” charged Stewart, who is also chairman of the Government’s investment arm JAMPRO.
“We [Jamaica] are not doing well because the businesses are not doing well,” he said, adding that the country is made up of businesses and “the living standard of the country is only as good as the businesses”.
According to Stewart, a reduction in taxes from the business sector significantly curtailed government’s ability to provide basic services such as the repair of roads. “There is nowhere else to get taxation to build roads, to build hospitals, nowhere else than through businesses,” he said. Stewart further contended that while some ills in the system were repeatedly blamed on bureaucracy, strong leadership at the Government level should deal with those problems. He argued that it was almost impossible for small entrepreneurs to survive in the current business environment. “A small man starting business cannot succeed in this country unless he is willing to play all sort of games,” said Stewart. He added that the money needed to finance imports on the wharf was inflated as goods are kept up to three months before being cleared.
“With all the different costs they force you to keep it on the wharf, then they force you to pay storage,” said Stewart. “By holding up businesses you are holding up progress,” he added. At the same time, Stewart described the Government’s recent announcement of the complete removal of waivers as one policy that was not properly thought through. He contended that the manufacturing sector had to be facilitated in order to be competitive. If the Government cannot get its act together, he said, then it will fail on the economy just like the previous Government and others before did. The Observer Business Leader Awards will this year recognise the contribution made to the local economy by foreign companies.
http://www.jamaicaobserver.com/news/...h--tells-Gov-t
Comment