How will Gov’t repay?
Every worker in Barbados, as a natural right, should have such five-star office accommodation as can be found in the Omni Tower, Government’s newsest office complex.
It would be quite wrong, and possibly discriminatory or even unconstitutional, to have only some government ministers and workers enjoying the view over the fields and hills that are now our very own (or else, the unions should “take whatever action is necessary” to ensure this happens).
As Eric Williams might have said, the cost of building these palaces is no problem: these are “good investments” for NIS funds. Ergo, the more such buildings, and the more they might cost, the better the investment, right?
These investments yield “dividends” from Government, (either by way of rents, or dividends, or coupons on the NIS bonds etc) as the loaned funds are repaid to NIS. Clearly, a win-win-win and everyone is happy, right?
But wait: How does Government find the money to: (1) repay the principal debt? (2) Repay the interest debt? (3) Pay for the air-conditioning and general upkeep of these offices? and (4) Pay for the folks who work there?
I seem to recall that when NIS itself departed their old “digs” on Fairchild Street, where some 400 folks quietly did their jobs, that their new place up at Culloden was said to usher in a computerised and highly efficient workforce — with room for about 800. This estimate was evidently inadequate, hence the additional NIS building later to grace the traffic-lights junction.
I dunno… I suppose the cash to pay for all these things will continue to arrive at GAIA on weekly flights from heaven, along with all the other manna that we can be sure BIM will always be blessed with. Doan worry; be happy.
— Tony Webster