Sealy claims ‘draconian’ measures planned by BLP post-election

Former Minister of Tourism Richard Sealy is raising concern about the possibility that thousands of pensioners in Barbados could be at risk of having their pensions reduced under a new Barbados Labour Party (BLP) Administration.

And he has called on Prime Minister Mia Mottley to come to the people, before the upcoming January 19 General Election, and let them know if this is in fact one of the measures to be introduced that she referred to as “tough decisions”. Speaking to a large crowd at Haggatt Hall, St. Michael Sunday night where the Democratic Labour Party (DLP) paraded its full slate of candidates for the upcoming polls, Sealy referred to the International Monetary Fund’s (IMF) December 2021 Article IV Consultation, the Sixth Review Under the Extended Arrangement Under the Extended Fund Facility, which he said reported that Government will need an ambitious fiscal adjustment with six per cent of GDP going forward from 2022 to 2025.

“Now if the same report is complaining about the fiscal situation, in essence we are spending too much money and you’re pushing pension reform that is only one thing it means. They want to cut pensions,” Sealy maintained.

“Come out and tell the pensioners of this country and tell the families affected by pension income, the households that rely on that, what is it yuh plan to do? I’m asking questions because the macro-economic indicators are not good. The question of the National Insurance Scheme, it was not in the greatest of shape even before COVID, how do you plan to recapitalise it? Where is the money coming from? More deductions from workers? Or are you going to worsen an already bad fiscal situation in government? How are we going to protect pensioners so that they can make ends meet in an environment where the cost of living is horrid? I genuinely want to know what the government’s plans are,” the former minister said.

The former-St. Michael South Central MP, who is aiming to recapture the seat from BLP incumbent Marsha Caddle, posed several other questions to the Mottley administration. These surrounded the potential for increased taxes, the privatisation of state-owned enterprises, the future of the international business sector, the current state of the Central Bank of Barbados’ balance sheet and the White Oak deal.

“Our current IMF programme will end in October of this year, based on all of the indicators we probably will have to go in another programme and I don’t think that one is going to be as accommodating as this one. So, the simple question is, what is it you plan to do in this IMF programme that is about to be implemented?” he asked.

Sealy continued: “Are you imposing more taxes on people who are already over-taxed? I see that the silly season has seen her talk about providing land tax relief, mind you, having put land taxes on top of people early in the term now coming back to correct the wrong that you did and calling it an election promise. But we need to know what is it that you plan to implement within this IMF programme or beyond this IMF programme that has so scared you that you felt you had to have an election first?

“Could it be you plan to sell off statutory corporations? . . . I’m asking a question, 60-odd state-owned enterprises and the IMF has always, even when we were in government, had some concerns about whether or not Barbados can afford to subsidise these enterprises. Is it that you plan to sell these things off and if you’re selling them, who are you selling them to? Friends and family? And if you’re selling them, what about the workers? Are they going to be retrenched? Don’t they have families to feed? How many people will be on the breadline? That is a question. . .  come and explain. I want to know what other draconian measures are planned?” (KC)