The Chief Minister will present the Montserrat budget on Thursday and someone who contributes so many wise thoughts which often go so unnoticed, that it is embarrassing to think that there are such minds.
AS we are caught somewhat by surprise, we have no time to offer our own thoughts but concur with many that are here.
He writes:
Some highlights from the UK Budget as presented today.
http://www.bbc.co.uk/news/uk-politics-12829433
Notice that the UK budget includes fiscal measures designed to help individuals and companies. The tax threshold is being raised and the company tax is being lowered. Tax on fuel is being lowered ever so slightly so that people get an ease at the pump.
Can we expect any such measures in Montserrat’s budget on Thursday? Or will it be just another disjointed speech day exercise to fulfill a procedural requirement?
For example the old UK Corporation tax of 28% is being reduced to 26% in this budget; and UK Gov is targetting a maximum rate of 23% for Corporation Tax by 2014. What is Montserrat’s Corporate tax rate 30%+?
Note also that the UK Government is freezing Council Tax. The Councils need more money to operate, but the Coalition Government is not allowing them to raise the local taxes; instead they are being topped up from Central Government borrowing.
http://news.uk.msn.com/uk/articles.aspx?cp-documentid=156635276
Live within your means we were told; and sage advice that is of course. This is how the Mother Bird lives within its means;
“Forecast borrowing of £146bn this year, £2.5bn lower than anticipated. Borrowing to fall to £122bn next year, dropping to £29bn by 2015-16
National debt forecast to be 60% of national income this year, rising to 71% in 2012 before falling to 69% by 2015”
Bottom line is that the UK Government understands that even while tightening the belt, there are a number of things that must be done in order to encourage economic growth.
What are we doing (What are we allowed to do?) to foster growth and stability in Montserrat?
Meanwhile we must pay attention to the plans the FCO are working on for us; and note their stated committments.
See the FCO Secretary of State’s written statement at the link below.
http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm110310/wmstext/110310m0001.htm
Hague says inter alia; “I also plan to bring all aspects of the Government’s policies on the overseas territories together in a new White Paper in the course of the year ahead. We will want to consult widely on this. I am working with relevant Departments on a new strategy to underpin this Government’s approach to the territories.”
So do we know what WE want the relationship to be like?
Are we going to make submissions for a more mature partnership (or integration) (or independence); or are we happy with the Bird and Chick type of relationship that the DfID Secretary of State seems to think we have?
