BASSETERRE, St. Kitts – THE state of the local economy and other developmental issues were the focus of a public forum held Tuesday evening (May 25) at the Methodist Church Hall.
“The Economy – Fiscal and Development Issues” was the topic of the inaugural forum held by community group The CARE (Country Advancement through Responsible Expression) Initiative.
Dozens turned up to hear frank and forthright dialogue on the cost of living, the implications of Value-Added Tax and the country’s economic performance over the past year.
The panellists were Financial Secretary Janet Harris, General Manager of the Bank of Nevis Everette Martin and accountant Schneidman Warner.
Harris revealed that the local economy contracted by nine percent in 2009, different to a lower figure given by Prime Minister Hon. Dr. Denzil Douglas last week.
She also highlighted measures the government is taking to spur growth, which includes public sector reorganisation and tax reform.
Martin addressed the economic situation from a banking perspective, noting liquidity had tightened and banks were being more stringent on loans, while Warner focused on the social effects of the country’s almost EC$3B national debt.
Warner, who is also CARE’s Chairman, called the turnout “very encouraging” and said public feedback had been “extremely positive”.
“People were pleased with the matter-of-fact, non-partisan way the topic was handled and said they anticipated our future events. It confirms to us our belief that the public is interested in serious discussion on serious issues rather than the typical shouting matches.”
He explained why the economy was chosen as the subject of CARE’s inaugural forum, and said the group would announce the theme and date of its next discussion within a week.
“The economy is the issue, apart from security, that affects everyone in St. Kitts. In fact, it is a global matter of concern because all around the world countries are undergoing severe economic strains,” Warner noted.
According to the Chairman, CARE was formed in early 2010 with the objective of promoting reasoned, balanced and informed discussion on issues of national importance.
Its membership spans representatives from youth organisations, civil society and the financial sector.
