Budget 2017 wins the economic mannequin challenge
Dear Editor,
Budget 2017 has been labelled one of the most controversial budgets to be debated in Guyana’s 50 years of independence. It was reported in Parliament that Guyana’s economy declined to 2.6 per cent in 2016, which is lower than this Government’s projected four per cent and the lowest growth rate for the nation in nearly a decade.
It is my view that this $250 billion Budget lacks creativity and a sturdy plan for modernising Government systems. There is a minimal effort to generate any revenue other than through taxation.
It is my opinion that this Budget should have cornered and forced tax evaders and tax avoiders into making their contributions to the economy. Stricter measures should have been placed on businesses who fail to pay the NIS contributions of their workers, and at least harsher penalties for those who steal electricity and water causing great danger to their neighbourhoods.
This Budget should have campaigned for citizens to make things right with the law. Instead, the Budget will penalize those who already pay taxes and pressure law abiding citizens into a life of hardship. Further, the proposed taxation measures will reduce burdens on the wealthy and big businesses, while sadly increasing the burdens on the poor.
I believe that it is not sufficient to reduce VAT by a mere two per cent just to fulfil a 2015 election promise. By taking away the status of most zero-rated goods and broadening the scope of goods and services which attract VAT, consumers will face higher prices and a significant increase in the cost of living. Yes, VAT is a tax that can reach everyone, but with a declining economy, the Government should have seriously considered adding some benefits to those in the low income earning bracket.
But what is this mannequin challenge? And why is it relevant? It is a viral Internet video trend where people remain frozen in action like mannequins while being filmed, usually with the song “Black Beatles” by Rae Sremmurd playing in the background. Justifying Guyana’s Budget 2017 winning this challenge economically, is outlined by Finance Minister Winston Jordan in his speech to the National Assembly where he said that mining, forestry, rice, sugar, agriculture, hydro-power, technology, construction and other sectors are expected to remain still in 2017.
So for an entire year, Guyana’s productive sectors will do the economic mannequin challenge while its neighbours and diplomatic partners watch on. This is a challenge that Guyanese (local and abroad) will start feeling sick and tired of very soon.
The theme of the Budget: “Building a diversified green economy: delivering the good life to all Guyanese” does not correlate with the contents documented within it, rather this Budget is delivering more expenses to all Guyanese.
In the speeches from the Government Ministers on Budget 2017, many of them tried to highlight that the Opposition was pulling wool over the eyes of the public and that we should study the Budget independently, but even without an Opposition, Guyanese are matured and capable enough to decipher good from bad.
I urge the Government to review this Budget, incorporate the Opposition in policy decisions and coordinate with them on revenue -generating projects and finally, always keep in thought, the livelihood of low income earners.
