Prime Minister Anthony States Six Imperatives for National Development
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Prime Minister Anthony States Six Imperatives for National Development |
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Contact: Claudia Monlouis
Thursday, April 21, 2005 - Prime Minister Honourable Dr. Kenny Anthony, in his capacity as the Minister responsible for finance and economic affairs in Saint Lucia, has short listed six national imperatives for government and citizens to accomplish over the next financial year.
Dr. Anthony says the right choices must be made now in order to capitalise on the invaluable economic opportunities which are now knocking. In order to seize these opportunities and lay a long-lasting economic foundation, Dr. Anthony, in his presentation of the 2005/ 2006 Estimates of Revenue and Expenditure on Tuesday, April 19th, announced a reduction of the corporate tax rate by a further two percent down to 30 percent. This reduction aims to facilitate the expansion of the private sector.
Secondly Dr. Anthony urged all productive and service sectors to get down to the business of making good on investments that are critical to long term growth. Once again, the Prime Minister highlighted Cricket World Cup 2007, as providing a timely launching pad for entrepreneurs.
“Cricket World Cup 2007, provides us with a singular opportunity to propel the economy on a higher growth path and to achieve higher future potential growth rates. We need, however, to make the required investments now to benefit fully from Cricket World Cup.”
He says Government has already fully appreciated the economic significance of hosting World Cup and will also make necessary investments to fully benefit from the hosting this historic event.
“This requires the upgrading and expansion of the Beausejour Cricket Ground, the rehabilitation of our road network an improving our water supply. As I shall point out later these investments are significant but necessary. They will lead to additional borrowing. These short term increases in government borrowing will in no way jeopardise our long term macroeconomic stability, provided that we make appropriate adjustments in subsequent years.”
Thirdly Prime Minister Anthony says the workforce must be developed to possess the prerequisite skills to enable them to take full advantage of the Caribbean Single Market and Economy. The fourth imperative is to continue to facilitate the growth of sectors considered to be of strategic economic importance. In this regard Dr. Anthony says government will continue to utilise grant resources and provide concessions for private sector growth. The fifth national imperative deals with the need to improve the delivery of social services. Dr. Anthony says the social services must be designed to provide social protection for those persons who have been adversely affected by changes in the economy. “This government will continue to ameliorate the conditions of those who are affected, through our poverty reduction strategies and self employment opportunities created through the institutional support provided by the Small Enterprise development Unit (SEDU), Belfund and the youth Apprenticeship Programme”. And the sixth goal that the nation has been called to work towards is the improvement of the justice system and the reduction of crime in the country. The Prime Minister assured, proposals in support of these objectives will be fully articulated later. |
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