Tuesday, September 25, 2012

VAT Is (Almost) Here

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9 comments:

Anonymous said...

Anyone with half a brain left among St. lucians should know that Keysiansian economics has failed all over the world.

You cannot prime pump an economy with government spending. Kenny Anthony tried if throughout his political career by borrowing foolishly and spending recklessly.
Obama and the Federal Reserve in the USA tried it endlessly with trillions in "quantitative Easing" I, II and now III and printing of money.

In both cases the countries have been worst off than ever before.

Kenny is now apply VAT to squeeze more blood from an endangered middle class in keeping with his failure to ever massage our economy to produce more and grow.

The VAT is to pay for the NICE 2,000 people they say they have "employed" and they are whipping the working class to get more money to pay for the Menissas and Hillaires with their fat salaries.

the VAT is to make sure that Chastanet gets enough money from all his businesses in St. Lucia for which he gives back NOTHING in return.

The VAT squeeses the average St. Lucian so Kenny and Phillip can fool the people by passing out "goodies" to their party hacks even while squeezing the life water from the economy.

Poor desperate St. Lucia.

September 25, 2012 at 9:34 AM
Ezra Dollin said...

The VOICE really needs to control those bloggers. People should understand that although they have the right to say and do as they please that right comes with responsibility.

why is The VOICE letting someone write such nonsense in the blogger above. The VOICE needs to screen those bloggers and delete anyone who writes nonsense.

It is sheer stupid for someone to say that the VAT is to pay for the NICE programme, to make Chastenet get richer and for the prime minister to fool people.

The VOICE needs to stand up and dod what is right or else i will go on a campaign to shut The VOICE down for the nonsense it allows on its webpage.

September 25, 2012 at 2:07 PM
AC said...

Ezra everybody has a right to their opinion, as dumb as it may be. I don't think The Voice should muzzle anybody for stating what they think. As long as its not disrespectful to anyone.

September 25, 2012 at 2:22 PM
Anonymous said...

Ezra, knows that there are large numbers of dumb Saint Lucians who believe everything that is written in black and white, and everything that the party they love would tell them.

Those uncritical believers are just dumber than dumb!

VAT is being implemented to make up for our rudeness when we joined the WTO. You have to play by the rules, that is, remove import tariffs. Russia has only recently just joined the WTO after protracted negotiations.

Removing import tariffs means loss of revenue. Loss of revenue means budget gaps and deficits.

To reduce the deficits, governments have to raise taxes and/or have better revenue collection and drive exports.

To fund imports of critical supplies (food imports, etc) and have the cushion of at least 3 months of foreign exchange to pay for those, you have to earn hard currency.

If you cannot earn the hard currency and have to obtain the necessary foreign exchange you have to go to the IMF. A stand-by loan arrangement may be entered into.

If you go to the IMF. You have to play by their rules to get and access the funds for balance of payments support.

To get the funding or drawdowns of funds, you have to face 'conditionalities'. Some of those include greater revenue generation and collection through a VAT (to replace the revenue lost by the removal of the tariffs) removal of ALL government subsidies, and the privatization of government held businesses and services like water, electricity, etc.

We have seen one such removal in the recent weeks already. The removal of the kerosense subsidy comes to mind.

The VAT is just another 'conditionality'. Although you may hear the equivocation that implementation is 'voluntary' on the part of governments.

However, these conditionalities are not exactly 'voluntary', especially when governments facing huge debt, see the IMF and World Bank as lenders of last resort.

They soften the impact by first carrying out some of the expected conditionalities long before going to 'lender of last resort', namely, the IMF.

September 25, 2012 at 9:02 PM
Anonymous said...

Lets us face. we will all just suck it up.

Our media do not give us the true story so we do not know where to turn and do not realize what trouble we are in. The politicians all do not have answers but spend, spend and spend. The big shots are just satisfied to bleed us dry and complain.

We will just accept the destruction of the economy and Kenny's bleeding of the middle class.

September 26, 2012 at 6:08 AM
Anonymous said...

Ezra is clearly one of those socialist big government beggars waiting for his piece of the pie. The same kind that has dragged down the Caribbean since Independence and offered nothing of substance to move us along the path of development.

He wants to silence the blogger above because aside from mob rule the only thing these types understand is repression and stifling freedom.

Just the kind of socialist the slp like.

September 26, 2012 at 6:13 AM
Anonymous said...

Ezra should go back to Cuba or Venezuela ot Tehran.

September 26, 2012 at 6:15 AM
Anonymous said...

The ingeneous scamp known as kenny/tony has struck again You have to give him kudos for how his brain is so easy to come up with "6 for a 9" answers and deflections.

Now he says that St. Lucia has to keep stable as this is the economy that is holding up the rest of the OECS.! Lol!
What he really means is that - St. Lucia is just ONE of the best of the economic and social basketcases known as the OECS. In other words as far as he is concerned he is the "one eyed king in blind man country" !!

He and the other thousand Prime Ministers since independence in the Caribbean have been hopeless and inept socialist/liberal/ progressive spendthrifts without a clue of how to run a country.

Now that all kenny and phillip pierre's rampant borrowing and sensless policies are coming back to bite then they have no answers for anything.

so now he is the least of all the drunks rolling about in the bar!

September 27, 2012 at 5:52 AM
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