The 2021 budget blast can quickly transform into a budget blue
Dear Editor,
Kaieteur News – I like some things in the 2021. budget. There’s a lot to cheer about, and I commend the PPP government for the positives, some of which were expected.
The everyday basics that almost all Guyanese eat will be a little easier in the pocket, a little more within reach. Guyanese are rice eaters and bread-eaters, and in some form or another, wheat and wheat products enjoy national appeal. Lower water bills help to chase the bread; thanks. That zero VAT could make a difference between one bag of tennis role or two, one pack of noodles, or the other. Those mean something to me, and I’m serious. The increase in Elderly Pension was a bit of a bummer, as I think the recipients were expecting another nudity. What the Hon. The Minister in the Office of the Presiding Officer has responsibility for Finance (no wonder he tried to get a little bit of hand before the elderly already accepted, and what was announced in last year’s small budget , to consider it as an increase ancient history has presented as the generosity of PPP 2021. Please refrain from this.A $ 3-5,000 increase in this large budget would have been nice; many pensioners were in it The proposed help of $ 15,000 per child is a helping hand in the right direction, and for the right people, but what about the others, Mr Minister? More than a few parents – some of them heads of homes singles want the best for their children, and sacrifice to make it possible by scraping them to send them to private schools I think the Hon. , which locks those who are not in the public school system from eligibility, although it is a sharp shadow on my part, I still say: have a heart, sir! Oh! another thing, let’s scrap that ‘proposed’ qualifying word before ‘budget’ and move on. This thing is over and done. Sealed and secure, given parliamentary numbers.
Also, I read about relief to the private sector in many areas, which I think is positive and worth a word of appreciation, although I have no business of my own. In considering all of this, which I consider to be citizen friendly, I commend planners, budget makers, and decision makers; they did well. I award B for effort, especially during an extended period of stagnation and COVID-19 pain. Some of this could go a long way. No new taxes are good; fewer taxes is even better.
Editor, considering all this, with spending in a number of areas, I’m confused about how inflation can be calculated and estimated at 1.6%, and that takes into account VAT reductions, and so forth. When heavy inflows of foreign currency and foreign spending are expected (way more) in this country, that inflation figure seems tame. Further, I read that the economy is forecast to grow at 20.9%, and I think it is possible if all cylinders are firing, if the pandemic is cooperating and retreating, and if Exxon does not blow us up. I think that the opposition can be accounted for in doing her part, as she is as happy as a pig in a shill; political stability, as the politicians are happy with their own budgets, especially the revenue side.
And now, for the rest of the best. Oil revenue is slated to rake in (maybe I should use a less sweeping verb) US $ 1M, which in my small mathematical mind is just GY $ 220M, or thereabouts. On the other hand, the properly and proudly unveiled budget (I, too, would take 4 hours to spread peacock feathers before the national audience) would finish at just under US $ 2B. I’m running into some serious removal and reconciliation difficulty here. That is, a huge flaw, a deficit, a gap, call it whatever pleases. It’s no mystery about how and where that will be filled. While I tremble, I must brave and bell the barracuda: borrow. If we continue on this scale, that ‘B’ word will be a dirty word here. As I praise the Hon. Minister, I respect leaving this one for His Excellency, the president: being pawn or puppet does not just include military bases. There is something called debtor bonding. Ask those with intolerable mortgages. And look at those Third World countries and leaders who carried on like drunken sailors and hit pork. The 2021 budget blast can quickly transform into a budget blues, where this association would be condemned to deal with financial pawnbrokers. How about that kind of pawn, big boss man? Better make those puzzle guys.
Truly,
Lall GHK