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Arthur Hall, Gleaner Writer
PRIME MINISTER Bruce Golding has vowed that his Government will not embark on any wild spending in an attempt to influence the outcome of the general election due next year.
The governing Jamaica Labour Party (JLP) is trailing the Opposition People's National Party (PNP) in all public opinion polls, leading to speculation that the Golding administration will resort to extravagant spending to ensure a second term in office.
But Golding declared on Thursday that his administration will not embark on the kind of spending, which has been dubbed 'run wid it' by some local commentators in reference to former finance minister Dr Omar Davies, whose comments following the 2002 general election suggested that he allowed some ill-advised spending to ensure that the PNP was returned to power.
"We can't afford it. I have grandchildren living here and I have to protect them," Golding told The Gleaner shortly after he addressed a group of private-sector leaders at the Jamaica Conference Centre in downtown Kingston.
Golding promised the business leaders that his Government would not resort to ill-advised spending because of the looming election.
Gov't under tremendous pressure
According to Golding, the Government is facing tremendous pressure to spend money it does not have to satisfy interest groups, including business operators requesting tax waivers.
"My ministers know that we have walked too hard a road and we have come too far and we are too close to the point at which we can get the real benefits of this effort to now allow it to be lost," said Golding.
"(Not) because there are demonstrations out there somewhere about the need to spend more money, or because there is some event that is due by September of next year that must inform our decisions. I am very, very clear on that," added Golding.
The prime minister argued that his Government has now achieved "macroeconomic harmony" with low interest rates, inflation down and the foreign-exchange market stable.
"This is something that doesn't happen automatically. We have had to work hard at it and make some serious sacrifices, and we worked hard at it every day to keep it where it is."
Golding pointed to the latest publication by the Statistical Institute of Jamaica that shows interest rates for the first eight months of this year at under four per cent as proof that the Government now has all its ducks in a row.
He said the country is now at a period where the broad macroeconomic conditions are conducive to long-term investments by the private sector.
The prime minister was speaking at a forum on the 'Redevelopment of Downtown Kingston: Investment Opportunities and Challenges' hosted by the Urban Development Corporation and Scotia Investments.
The forum was used to highlight the investment opportunities in downtown Kingston, which is experiencing a makeover.
arthur.hall@gleanerjm.com
PRIME MINISTER Bruce Golding has vowed that his Government will not embark on any wild spending in an attempt to influence the outcome of the general election due next year.
The governing Jamaica Labour Party (JLP) is trailing the Opposition People's National Party (PNP) in all public opinion polls, leading to speculation that the Golding administration will resort to extravagant spending to ensure a second term in office.
But Golding declared on Thursday that his administration will not embark on the kind of spending, which has been dubbed 'run wid it' by some local commentators in reference to former finance minister Dr Omar Davies, whose comments following the 2002 general election suggested that he allowed some ill-advised spending to ensure that the PNP was returned to power.
"We can't afford it. I have grandchildren living here and I have to protect them," Golding told The Gleaner shortly after he addressed a group of private-sector leaders at the Jamaica Conference Centre in downtown Kingston.
Golding promised the business leaders that his Government would not resort to ill-advised spending because of the looming election.
Gov't under tremendous pressure
According to Golding, the Government is facing tremendous pressure to spend money it does not have to satisfy interest groups, including business operators requesting tax waivers.
"My ministers know that we have walked too hard a road and we have come too far and we are too close to the point at which we can get the real benefits of this effort to now allow it to be lost," said Golding.
"(Not) because there are demonstrations out there somewhere about the need to spend more money, or because there is some event that is due by September of next year that must inform our decisions. I am very, very clear on that," added Golding.
The prime minister argued that his Government has now achieved "macroeconomic harmony" with low interest rates, inflation down and the foreign-exchange market stable.
"This is something that doesn't happen automatically. We have had to work hard at it and make some serious sacrifices, and we worked hard at it every day to keep it where it is."
Golding pointed to the latest publication by the Statistical Institute of Jamaica that shows interest rates for the first eight months of this year at under four per cent as proof that the Government now has all its ducks in a row.
He said the country is now at a period where the broad macroeconomic conditions are conducive to long-term investments by the private sector.
The prime minister was speaking at a forum on the 'Redevelopment of Downtown Kingston: Investment Opportunities and Challenges' hosted by the Urban Development Corporation and Scotia Investments.
The forum was used to highlight the investment opportunities in downtown Kingston, which is experiencing a makeover.
arthur.hall@gleanerjm.com
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