Dear Editor,
Mr Sherwood Lowe seems to be advocating that the Government should spend more now and worry about the National Debt later in his letter `Our large political parties have not shown much big match temperament’ (SN, 29th June 2021).
I am advocating incremental spending in keeping with increased Government Revenues.
We all want the total elimination of poverty in the quickest time possible.
But this can only happen with job creation on a grand scale nationwide. For this to happen the Private Sector (deemed the engine of economic growth) should be given the incentives to expand their operations creating local jobs in the process for Guyanese.
One way to do this is to reduce taxation and to reduce interest rates. This gives our Private Sector the opportunity to raise capital for expansion.
The spendthrift approach by Mr Sherwood Lowe would lead to big infrastructure projects, many of which would be given to foreign contractors who would hire few Guyanese.
So while Guyanese would be burdened with increased debt there would be little to show for it.
Personally, I would like to see the resources we currently have being better utilized.
As a priority, we should be aiming to tackle the COVID-19 pandemic, flooding, electricity and water problems nationally.
Yours faithfully,
Sean Ori
