Statement from Jack Warner: Is the Treasury dry?

Chaguanas West MP has issued a statement asking whether the Trinidad and Tobago treasury is running out of funds.

Warner says a recent decision to scale back the Etech ICT Park at Tamana raises serious questions about government’s policy, method of operation and the cash flow position of the national purse.

He said the Etech ICT Park is just the latest project to be adversely affected by what government is slowly and reluctantly admitting to be cash flow problems.

"Government’s construction projects have been slowed and the housing program is at a standstill. Citizens have been waiting indefinitely for critical infrastructure such as new hospitals as existing services remain shoddy.

"Pensions and wages are frozen. Almost every sector has experienced reduction in funding in the 2010 National Budget.

"Most notably, the Judiciary suffered a further reduction in funding from the paltry $48 million allocated in 2009 to the less adequate sum of $42.5 million for 2010.

"This means the judicial arm of the justice system has even less resources to deal with the worsening problem of crime.

"The explanation by the Minister of Finance...is simply that government had to cut funding in all ministries and each Ministry got no more than 15 per cent of the sums requested since this is a “challenging year”.

"The nation remembers the days when the Prime Minister would mock the population and berate the economic experts with arrogant sneers of "the sky is not falling", as they urged him to curb wild, wasteful spending, review the development agenda and to save for the rainy days.

"Today, he is cutting back everywhere and mounting every soap box in sight to tell the public to tighten their belts.

"Meanwhile, the wastage and corruption continues unabated. Hundreds of millions of dollars are going down the drain next month when the Commonwealth Heads of Government Conference takes place.

"This adds to the hundreds of millions flushed away in the Summit of the Americas last April.

"What is astonishing is that the government never has money to implement the infrastructure, systems and programmes that will improve the quality of life of the population but it always has money to throw a fete.

"But the rate of recent cutbacks raises the question: How healthy is the Treasury really? Government has not saved any money in 2009. It incurred a $7 billion deficit.

"I do not believe they have suddenly grown a conscience and started to become prudent overnight.

The only reason the PNM would stop its spree is if there is no money in sight or none that they can get their hands on.

Respectfully Submitted | Jack Warner, MP Chaguanas West