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A cautious and measured budget presentation, Dr Clarke
A number of initiatives were announced by the Government in its 2024/2025 budget presentation.online
Columns, Opinion
March 20, 2024

A cautious and measured budget presentation, Dr Clarke

By now one has come to expect that budget presentations by Dr Nigel Clarke, minister of finance and the public service, are not given to hyperbole and bombast. He speaks with a certain passion, especially when he has to defend himself against baseless accusations, but by and large, his views are cast in pragmatic terms.

On this basis, his budget presentation last Thursday was governed by the kind of sobriety you would expect from a finance minister who knows what he is doing and the fiscal constraints under which he is operating. His presentations, to date, are characterised by the need for probity and judicious appreciation of the facts as they present themselves. Thus, his presentation was measured, cautious, and driven by a strong sense of responsibility.

Having been stung by the less-than-impressive showing of his party in the just-concluded local government elections, the minister found himself struggling with the need to uphold fiscal prudence or bow to the demands of the political culture that the country has indulged over the years.

He could have announced reckless spending to please the masses. It is a tribute to his fiscal integrity that the minister did not announce any “run wid it” schemes, which such a culture craves. Instead, he looked at what he could do within the confines of the macroeconomic stability the country is presently enjoying to see how he could ease the burden of the most vulnerable in the society. For example, there are those who were looking for a bigger increase in the income tax threshold, but the minister placed emphasis on the long-suffering pensioners who needed relief. Unemployment insurance, which is long overdue, will become a part of the financial and labour landscape.

A budget is a balancing act in which a prudent minister has to literally juggle competing demands. I believe the minister scored well in this regard and that is why many believe that the country is in safe hands under his stewardship. There are policies, programmes, and projects which are the remit of the prime minister to announce in his presentation. One does not look to the finance minister for these announcements. He certainly cannot steal the prime minister’s thunder or he might be struck by his lightning. So we will await the prime minister’s presentation to see the extent to which the Government is prepared to spend the people’s resources in the context of a general election which has already been engaged.

In contrast to Dr Clarke’s presentation, I found the presentation of Dr Julian Robinson, Opposition spokesman on finance and the public service, to have been, in the main, very lethargic and uninspiring. Not only was it lacking in vigour, but there was absent the cut and thrust that one would expect from an Opposition party that has put its opponents on serious notice that they cannot take the next general elections for granted. The phlegmatic approach seems to be characteristic of Dr Robinson’s public speeches, even when he is on the political platform. Insofar as this is so, one cannot hold this against him, as he has to operate as authentically as he can within the confines of his personality. But…

I did find his concern for productivity to be very compelling. Frankly, there was not much that the Opposition could criticise in the macroeconomic variables that the country is experiencing. What should be exhilarating for the Jamaican people is to see the level of congruence between the views of both parties on these variables. The fact that the Opposition for now could not offer any trenchant rebuttal of what the Government is doing is good for the country, although we await Opposition Leader Mark Golding’s presentation. He may have a few more things to say. We will see.

It is clear that both sides of the political spectrum are seized of the need to spur production and productivity and ensure that Jamaicans begin to feel the effects of the macroeconomic viability which, for the moment, appears to be an elite conversation. The tangible outflow of benefits consequent on their own sacrifices over the years must be seen in their roads being fixed, water distribution enhanced, health delivery improved, and a host of other immediate benefits that affect their day-to-day existence.

Ways must be found to train and enhance the skills of the large population of young people, many of whom are adrift on a sea of illiteracy. These are not easy tasks to be fulfilled by any Government, especially over the short term. But people expect to see a start being made. Without this, telling them about strong macroeconomic indices will be tantamount to selling someone a piece of real estate on Mars.

 

Dr Raulston Nembhard is a priest, social commentator, and author of the books Finding Peace in the Midst of Life’s Storms; The Self-esteem Guide to a Better Life; and Beyond Petulance: Republican Politics and the Future of America. Send comments to the Jamaica Observer or stead6655@aol.com.

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