Jamaican Prime Minister Bruce Golding says
the cost of government is way beyond what the country can afford and has hinted
at wide-ranging re-structuring and re-organization of government departments in
the next fiscal year – a situation that could lead to job cuts.
In fact the total public sector wage bill
this year is twenty-eight percent of the total budget and is only second to
debt payments in the amount of money it eats up.
Prime Minister Golding in a late night (September 29, 2009) address
to the Jamaican Parliament revealed that the government is to establish a
high-powered unit within the Office of the Prime Minister geared towards
modernizing the machinery of government and improving efficiency.
The Prime Minister emphasized that
government’s ability to pay has exceeded the limit and that the wage bill
burden cannot be sustained. He acknowledged that it will be politically
unpopular to do so but says his administration will have to trim the size of
government which overall employs one hundred and seventeen thousand workers.
The Prime Minister emphasized that some
government agencies and departments will have to be merged to achieve greater
efficiency and processes simplified thus reducing a stifling bureaucracy.
It’s a politically courageous stance on a
problem that has dogged Jamaica
over the last two decades. The Golding administration has a razor-thin majority
in Parliament and the last time any significant effort was made to trim the island’s
burgeoning civil service, it administration was overwhelmingly voted out of
office.
Ironically it was a former JLP
administration headed by Harvard-trained economist Edward Seaga who in the
nineteen eighties had to trim what was generally acknowledged as an inefficient
and bloated civil service. His reward was political oblivion.
Our Young Investors Stock Market Competition has ended for 2011 and the highlight of the year was of course, Dexter Smith's dominant display. Smith won each of the four quarters impressively with [ ... ]
Pan
Caribbean believes that even with the changed interest rate regime; the
impact of the Jamaica debt exchange; and the buffeting Jamaica has
taken from global recessionary trends, there [ ... ]
A confident Dexter Smith has taken a break, maintaining a cash-only portfolio worth over JA $1.2 million and a virtually unassailable lead in the final quarter of the Young Investors' Stock Market Co [ ... ]