Continuing good policies and programmes makes sense
There was a time when newly installed governments would either scrap or make drastic changes to programmes implemented by their predecessor simply because the ideas didn’t emanate from them.
The fact that some of these programmes were good for the country and, by extension, the Jamaican people, was of little concern to those politicians. What appeared to be more important to them was their ego, and so they wallowed in political pettiness.
While there are some in the political directorate who are still seized with that mentality, thankfully we have seen a shift away from that nonsensical thinking over the past 15 years at least.
The upshot is that Jamaica is starting to benefit from the acceptance that continuity from one governing party to another — once there is general consensus that programmes and/or policies are working — makes sense.
Management of the Jamaican economy over the last decade is easily one of the best examples of this.
Prime Minister Andrew Holness and Finance Minister Dr Nigel Clarke can take a bow for the Government’s achievements in bringing the ratio of debt to gross domestic product (GDP) to less than 80 per cent currently. That was coming from an appalling high of close to 150 per cent in 2013 when the then just over year-old People’s National Party Government agreed to an economic reform programme with the International Monetary Fund.
No one can challenge that the tough fiscal discipline shown by the Portia Simpson Miller-led Government of that time, with Dr Peter Phillips as finance minister, laid the platform for the current Government’s admirable achievements which are being hailed worldwide as an economic success story — “arguably one of the most remarkable and radical but under-appreciated turnaround stories in economic history” was how the highly respected Financial Times newspaper put it in January this year.
With the economy recovering well, we are now hearing of a surge in interest from international real estate investors who are attracted by our history of political stability.
Mr Roger Williams, interim CEO of Spectrum Capital Holdings, the parent company of RE/MAX Elite Realty, made that observation at a recent Jamaica Observer Monday Exchange.
According to Mr Williams, the growing investor interest resides mainly within the Jamaican Diaspora. That interest, he pointed out, mushrooms as those Jamaicans have their own network of people abroad — some of whom are not Jamaicans.
Mr Williams said that when people contemplate investing abroad they want to make sure that their investment is not at risk due to political instability.
It seems fair to say that Jamaica scores high in that regard. In general terms, this country boasts a record of smooth, peaceful transfer of power, regardless of the intensity of political campaigns.
That we have been able to preserve our democracy and are demonstrating maturity in governance and political leadership gives credibility to the argument that Jamaica is among the world’s best locations for investors to do business.
Maintaining and improving the policies and programmes that have got us to this stage must be among our primary objectives.
Also, crime remains a major challenge. Criminals have slowed our nation’s progress for as long as most of us can remember, endangering social stability. Working hand in hand, we must deal with them.