Thursday, November 23, 2017

No way to escape austerity*


The recent budget has stirred a lot of heat, but not much light on our difficult situation. Finance Minister Colm Imbert made a compelling case about the macroeconomic mismanagement, wastage, and corruption of the former government. But most of us knew that—which is why we voted them out.  He also made a clear statement about the financial difficulties we face. While his presentation has been widely criticised for the tax increases that affect the population, many commentators have missed the point that there is no light at the end of this tunnel and few have suggested credible alternatives.

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