We’ll fix CLICO
It’s failure to deal with the CLICO debacle is one of the clearest signs that the Democratic Labour Party Administration has failed Barbadians.
Barbados Labour Party leader Owen Arthur last night knocked Prime Minister Freundel Stuart, his predecessor, the late David Thompson and other Government officials who had assured 35,000 policyholders they would get their money back, but had “taken four years to do nothing”.
A new BLP administration, he said, would immediately move to resolved this major financial problem.
“You can’t take four years to leave people in the lurch, it must be dealt with. There is a way we can fix this problem through a combination of cash, through a combination of investment instruments and giving some element of tax relief to those who don’t get cash, companies especially,” Arthur said during the official launch of the BLP’s campaign at the Bay Street Esplanade.
“I feel strongly that people who are pensioners and who look for that little money to live off should get the money in cash and get it right now.”
Arthur said while there were suggestions that when he was Prime Minister and Minister of Finance he was aware of the insurance company’s problems and had done nothing, this was untrue.
“Believe me I would have been very, very glad if when I was Minister of Finance any news would have been brought to my attention that a [CLICO] company was not following the law, the law would have been followed,” he said.
Arthur said the system had failed CLICO policyholders, adding that if there was no bond of trust between the government and the governed the “law of the jungle” would obtain.
“We must not accept these things that a government gives it word and then breaks its word to the people,” he stated.
“I got a lot to say and there is a lot that must be said from this platform, but I bring you a message of hope. We are going to take charge we are going to give you a good government [and] where there are problems we are going to face it and fix it.” (SC)