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If you think education is expensive, try ignorance, says Misick
The Government, Opposition and members of the private sector agree that education is the most critical component needed to jump-start Jamaica's development, emphasising a desperate need to reform the country's mostly unskilled labour market.
The consensus was aired at the Private Sector Organisation of Jamaica's (PSOJ's) annual economic forum, themed 'Equipping the Private Sector for Growth', which was held at the Hilton Kingston Hotel yesterday.
Opposition Leader Bruce Golding, in his address, blasted the Government for failing to create an economic environment which adequately stimulates development. Saying that of the $1-billion the Government of Jamaica spends daily, a high percentage is spent running the country and paying off debts, Golding argued that this left little to be invested in developing the education system.
"In 15 years, the economy of Jamaica has grown by less than three per cent. the truth of the matter is that over the last 15 years we have worked in an economic environment that has not been conducive to growth" said Golding.
"Where this financial constraint has a more (adverse) effect is in our ability to fund the education system... when we look at investments and how do you grow and create growth, the impediment is our inability to create a workforce that this will require," he said.
Guest speaker at the event, premier of the Turks and Caicos Islands, Michael Misick, emphasised just how important a good education system is to a country's development.
"Education is the most important component in building a nation," said Misick. "If you think education is expensive, try ignorance."
Under Misick, whose full job title is premier and minister of planning, tourism, development, and district administration, the Turks and Caicos, a 30-island British dependency of 32,000 people, managed to achieve per capita income of US$12,500, negligible unemployment, real GDP growth of 4.9 per cent, and hold inflation below 4 per cent.
Jamaica's minister of finance, Dr Omar Davies, though countering that 2006 was a positive year in terms of the country's growth, inflation and foreign exchange stability, agreed that the education system is in desperate need of overhaul. He said that a plan was being put in place to consolidate statutory deductions and redirect funds to the education sector.
"The challenge which we now face is with the improvement in the quality and standard of our education system," said Dr Davies. "We are all dissatisfied with our training system... we are now looking at ways at how to improve the value added product.
"In the new administration we will work with the Opposition towards the consolidation of statutory deductions," added the minister. "The consolidation of statutory deductions will provide society with the opportunity to reallocate resources to fund the education system... It's still work in progress, it hasn't even reached green paper status."
Golding, echoing the sentiments of many private sector interests, also pressed for the Government to make the business environment more friendly. He argued that there is too much red tape involved in doing business in Jamaica.
"We have a problem that bureaucrats find hard to accept (in Jamaica), and that is the bureaucracy," said Golding. "It is way too cumbersome to do business in Jamaica, there are just too many things that have to be done. We have to accept that the majority of a business person's time has to be used towards running the business, not filling out forms."
Misick supported Golding's assessment by alluding to his success in running his country by "replacing the red tape with the red carpet".
PSOJ president Christopher Zacca, in his address, said: "We must learn from the example of other successful economies and make changes that will be beneficial for all stakeholders...the PSOJ stands ready and willing to work with all stakeholders to effect real and positive change."
The Government, Opposition and members of the private sector agree that education is the most critical component needed to jump-start Jamaica's development, emphasising a desperate need to reform the country's mostly unskilled labour market.
The consensus was aired at the Private Sector Organisation of Jamaica's (PSOJ's) annual economic forum, themed 'Equipping the Private Sector for Growth', which was held at the Hilton Kingston Hotel yesterday.
Opposition Leader Bruce Golding, in his address, blasted the Government for failing to create an economic environment which adequately stimulates development. Saying that of the $1-billion the Government of Jamaica spends daily, a high percentage is spent running the country and paying off debts, Golding argued that this left little to be invested in developing the education system.
"In 15 years, the economy of Jamaica has grown by less than three per cent. the truth of the matter is that over the last 15 years we have worked in an economic environment that has not been conducive to growth" said Golding.
"Where this financial constraint has a more (adverse) effect is in our ability to fund the education system... when we look at investments and how do you grow and create growth, the impediment is our inability to create a workforce that this will require," he said.
Guest speaker at the event, premier of the Turks and Caicos Islands, Michael Misick, emphasised just how important a good education system is to a country's development.
"Education is the most important component in building a nation," said Misick. "If you think education is expensive, try ignorance."
Under Misick, whose full job title is premier and minister of planning, tourism, development, and district administration, the Turks and Caicos, a 30-island British dependency of 32,000 people, managed to achieve per capita income of US$12,500, negligible unemployment, real GDP growth of 4.9 per cent, and hold inflation below 4 per cent.
Jamaica's minister of finance, Dr Omar Davies, though countering that 2006 was a positive year in terms of the country's growth, inflation and foreign exchange stability, agreed that the education system is in desperate need of overhaul. He said that a plan was being put in place to consolidate statutory deductions and redirect funds to the education sector.
"The challenge which we now face is with the improvement in the quality and standard of our education system," said Dr Davies. "We are all dissatisfied with our training system... we are now looking at ways at how to improve the value added product.
"In the new administration we will work with the Opposition towards the consolidation of statutory deductions," added the minister. "The consolidation of statutory deductions will provide society with the opportunity to reallocate resources to fund the education system... It's still work in progress, it hasn't even reached green paper status."
Golding, echoing the sentiments of many private sector interests, also pressed for the Government to make the business environment more friendly. He argued that there is too much red tape involved in doing business in Jamaica.
"We have a problem that bureaucrats find hard to accept (in Jamaica), and that is the bureaucracy," said Golding. "It is way too cumbersome to do business in Jamaica, there are just too many things that have to be done. We have to accept that the majority of a business person's time has to be used towards running the business, not filling out forms."
Misick supported Golding's assessment by alluding to his success in running his country by "replacing the red tape with the red carpet".
PSOJ president Christopher Zacca, in his address, said: "We must learn from the example of other successful economies and make changes that will be beneficial for all stakeholders...the PSOJ stands ready and willing to work with all stakeholders to effect real and positive change."
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