By Raffique Shah
Sunday, March 15th 2009
Trinidad and Tobago News Blog
www.trinidadandtobagonews.com/blog
When she entered the political arena and accepted the Cabinet position of Minister of Finance, Karen Nunez-Tesheira must have been familiar with the adage, “In politics, perception is reality.” She would also have been aware that politics exposes office holders to intense scrutiny, and more than that, all politicians are presumed to be corrupt and liars unless or until they prove otherwise. In other words, politics is downright dirty business.
Continue reading Karen’s dilemma
During the RIC hearings that subsequently resulted in the current electricity rate hike I made it abundantly clear that the net effect of the proposed unit rate increase from 15 cents to 35 cents per unit would result in a 45% hike in electricity bills. T&TEC and the RIC under Professor Dennis Pantin used every statistical trick in the book to deny and discredit this percentage increase.
FOR too many years we have haggled over what the minimum wage should be in this country: should we pay the poor buggers $9 an hour, or $10? That would amount to less than $2,000 a month, but it’s worth fighting over. For those trapped in this gloomy underworld-not so hidden, since we shop at groceries and stores where they labour every day-it could mean being able to afford an extra “doubles” for lunch, or buying their children the toys they so covet. As far as I am concerned, what we call a minimum wage is in fact starvation wage, a kind of semi-slavery endured only by those who have no other options, except perhaps to turn to crime.
It is patently clear to me that had not CL Financial magnate Lawrence Duprey made his pre-emptive approach to Government in mid-January to mobilize State injection of liquidity into his cash-strapped investment bank, CIB, CMMB and insurance giants CLICO and British American it would have been business as usual to date.
The handing over of prime Caroni lands to selected companies certainly raises cause for concern about the government’s agricultural policy and who benefits from it.
It is imperative on the Manning Administration having regard to the current global financial and economic meltdown that is ravaging all Latin American economies to appreciate that it cannot spend over $2bn to provide an April platform for the conduct of hemispheric multilateral diplomacy as if it is business as usual. Since May 2008 when the T&T Concept Paper detailing the agenda of the Fifth POS Summit of the Americas was accepted, the economic, social and trading conditions in the 34- membership of the OAS including in the USA and the Summit Host, T&T, have deteriorated radically. Latin America is not the same today.