July 21, 2022 | By Hopeton O’Connor-Dennie |
A recent comment on the direction of the JLP administration and supported by former Finance Minister and Opposition Leader Dr. Peter Phillips is in opposition to the position being taken by his party leader Mark Golding.
Dr. Peter Phillips said inter alia:
“The best gift that we can bequeath to the next generation is low debt. The greatest legacy we can leave to the next generation. It is important that we continue to manage our debt downward. There are shocks awaiting us on the horizon. It depends on how we trade-off long term problems. There is a crisis down the road. It may be a hurricane, or some other crisis “
So stated the former Finance Minister, Dr. Peter Phillips.
40 Billion Dollars
Noteworthy is the fact that Dr. Peter Phillips has distanced himself from Hon. Mark Golding as it relates to reducing the debt as is being done by current Finance Minister, Dr. Nigel Clarke instead of spending 2 percent or 40 billion Jamaican dollars. This is the two percent of GDP on local spending to hand out same to the people.
Dr. Peter Phillips between 2012-16 did a great job of prudent fiscal management.
He must have resisted, as Finance Minister, the temptation to spend recklessly as did Dr. Omar Davies, then Finance Minister, under the PNP, and being urged to do so by Hon. Mark Golding, Opposition Leader of the said PNP.
This position taken by Dr. Peter Phillips as articulated by him is most instructive. The enormity of Dr. Phillips’ s utterance is bound to cause a mini earthquake in the People’s National Party (PNP). I was unable to contain myself from laughter when I heard Dr. Peter Phillips’s comments. The radio repeated his comments in his own voice on at least four times.
We think this is bound to cause a major fallout in the Opposition ranks. They are trailing Holness in the polls by at least 20: percentage points.
Hon. Mark Golding wants the Holness led JLP administration to give away money or spend same carelessly. This is not good money management.
This is quite a slap from Dr. Peter Phillips to Golding from In his face. Good for him.
Dr. Peter Phillips is cementing his legacy.