Tuesday 31st May, 2011: Former Minister of Finance Senator the Honourable Anthony Boatswain has taken the NDC Government to task on what he has described as bad policies and bad economic management of the Grenadian economy. Senator Boatswain speaking at the NNP’s rally on Sunday in the northern parish of St. Patrick stated that these two issues together with spiteful and vengeful behavior on the part of the NDC have caused Grenada’s economy to go into decline.

Boatswain stated that the NDC on assuming office in 2008 should have continued the programmes and projects started under the NNP Administration in particular the various safety net programmes for the poor and vulnerable. He spoke of an increase over the past three years of some ten thousand persons joining the ranks of the Indigent in Grenada, earning less than EC$200.00 a month. He spoke of the number being around two thousand under the past administration. This was so he said because of the many safety net programmes which had been implemented to assist such persons.

The Former Minister spoke of Grenada falling in the Organization of Eastern Caribbean States (OECS) rankings for economic performance from first place in 2008 to third place in 2011. He indicated that Grenada is expected to fall even further in the rankings due to the continued negative growth of the Grenadian economy. He pointed out using three indicators that the productive sectors of the Grenadian economy are in decline. Senator Boatswain pointed out that the tourism sector saw a 20% decline in revenue in 2010. This has caused some hotels and guest houses to convert short term accommodation into long term accommodation as well as either retrench or rotate workers. Boatswain also spoke of the construction sector as having a 90% decline over the past three years and the agricultural sector meeting several challenges from markets to the high price of inputs.

Senator Boatswain also spoke of the high level of unemployment in Grenada presently. He further went on to say, that on demitting office in July 2008, the rate was below 25% but now it is estimated at around 40% with a 55% rate among youth of working age. He stated further that contrary to what is being said by the NDC Government, the global crisis has very little to do with the state of Grenada’s economy as this is not a new factor; for it was existing in the NNP’s last year in office. The NNP Senator stated that it has been the NDC’s inability to start major projects, for which funding was already secured under the NNP.

He sighted the US 85 million dollar St. Patrick Port Project, the 35 million dollar CDB funded Greater Grenville Developmental Project and the US $20 million dollar Kuwaiti funded Farm Roads Rehabilitation Project. Had only the NDC Government did not adopt this reckless policy of reviewing every contract of the NNP, over 3000 Grenadians would have being employed. Thus preventing our people from going through this pain and suffering they are experiencing at this time.

Senator Boatswain also declared that the present administration, seem incapable of attracting Foreign Direct Investment and in fact have caused Grenada to lose over $4 billion in such investment along with over 3000 jobs. He spoke of the NDC administrations constant attacks on investors which have created a climate of mistrust in the present regime.

Describing the Value Added Tax (VAT) as ‘draconian’ Senator Boatswain called on the NDC Government to rethink their fiscal policies as the burden of the tax remains heavily on the backs of the poor and vulnerable citizens of the country.