In the prevailing economic circumstances facing Barbados, the Opposition Leader should not have had to go for a no-confidence motion in the Minister of Finance to trigger a debate on the economy on matters that are critical to our current survival and our capacity to prosper in the future. This debate should have been triggered by the failure to finance Government’s excessive spending without recourse to an alternative way of printing money by the Central Bank that does not have to be approved by the Parliament of Barbados. It is a fundamental flaw in the budgetary process. As far back as September 2011, the Central Bank of Barbados revealed that the Government had been unable to make some payments on schedule. In short, the Government was having difficulty financing its excessive spending.
Posted on: Thu, 31 Oct 2013 17:32:10 +0000