UNEP’s leader criticises feasibility of 2009 Budget
By Melissa Bryant
Reporter~SKNVibes.com
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Leader of the UNEP Dr. Henry Browne
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BASSETERRE, St. Kitts – LEADER of the United National Empowerment Party (UNEP) Dr. Henry Browne has blasted the 2009 Federal Budget, calling it a clear indication that the government does not appreciate the impact a deeper global recession would have on the residents of St. Kitts and Nevis.
In an exclusive interview with SKNVibes on Monday (Jan. 12), Dr. Browne stated that the economy was in need of a total reconfiguration and the existing budget did nothing to address this need.
He pointed to remittances and earnings from the tourism industry as two components of the Gross Domestic Product that would suffer as a result of the global crisis.
“People of the country rely on remittances from abroad, but if they are being laid off there will be no remittances. The people in the country rely on tourism, but if there is much recession investors who are inclined to come here will not have the banking wherewithal to invest in St. Kitts and Nevis,” warned the UNEP Leader.
In order to offset the negative effect on consumers’ pockets, Dr. Browne revealed that he would implement a programme whereby the island’s commercial banks would undergo an assessment of their mortgage finances. ~~Adz:Right~~
“As the government is the major shareholder in the St. Kitts-Nevis-Anguilla National Bank (SKNAB), should I be elected into power, I would instruct the SKNAB to examine their delinquent loans and refinance them.
“I would encourage other banks to follow this lead, and if they do not I would instruct the SKNAB to tell all the people who are in peril at other banks to come to them for refinancing of their loans,” he explained.
Dr. Browne added that he would also stop the sale of local lands to foreigners and initiate government consultation with experts who would create a plan to redistribute the land and plant food, rather than depending on Europe or North America for the majority of the nation’s food intake.
He stressed that the answers to the Federation’s economic problems cannot be found in macroeconomic initiatives.
“It was a long budget eruditely spoken of by Dr. Harris, but it finds itself under macroeconomic terms at which he is excellent. But St. Kitts and Nevis is a microstate. We have breadfruit, sweet potato, herbs, pines and other little crops which can serve this country. The macro approach to a macro problem in a micro environment does not work,” Dr. Browne declared.
