THE EDITOR, Sir:
WHEN A horse breaks a leg and is no longer useful you are required to shoot it and end its misery. When a Finance Minister like Dr Davies gives the portfolio his best policy options and applications for 10 years and only makes matters worse every year, why does he not resign or be fired along with his entire economic team? Why must we prolong ours and Dr Davies' agony any longer?
Until the erroneous policies to which Dr Davies is still chained, are changed, there will be no progress in our economic situation. The continuous policy of reckless borrowing and spending create a high interest rate regime, which sucks up all the money for potential investments into hugely profitable short-term investment papers.
IRRESISTIBLE INCENTIVE
Then after giving this irresistible incentive to investors, he insists on playing the role of the naive by painting them as little red devils for forsaking long-term investments capable of producing much more goods and services which can generate employment and genuine economic growth.
Our poor Prime Minister is another clueless/hopeless person. He keeps exhorting the private sector to join the government in a partnership to create investment and employment. But investors are sensible, very practical people. You cannot be offering 35 per cent interest rates or anywhere near that and ask anybody to invest anywhere else. How long have the Prime Minister and the Finance Minister taken to grasp Investment 101 fundamentals?
Thereby the country is denied its best opportunities: people with bright ideas and entrepreneurs who need financing to go into good productive enterprises.
When are we going to get Dr Davies off our backs? Our economy is being damaged to a point near beyond repairs.
I am etc.,
JOHN BUNTING
P O Box 1080
Kingston 8
