Slp fact checker #2

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Another Saint Lucia Labour Party Fabrication Fact Checked

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Slp fact checker #2

  1. 1. SLP PROPAGANDA FACT CHECKER – LIE DETECTOR SLP TELLS YOU THE TRUTH UWP is responsible for the current fiscal and economic storm visiting Saint Lucia UWP brought you growth in 2006-2011 except in 2009 when the whole world suffered decline. Growth was impossible. Growth was projected for 2012 by the IMF. It was on the basis of this projected growth that VAT could have generated more VAT for them to fund the expanded levels of expenditure of their deficit budget. But VAT windfall won’t come because on the day following his victory the new PM sent us into economic panic warning us of hard times to come and suggesting belt- tightening to us. We obeyed and starting cutting on consumption. VAT on goods and service came in which increased the prices for us further causing us to spend less, border line small businesses folded, but not without increasing unemployment. Those losing their jobs would consume less fearing a long period of unemployment. Further, those remaining in the work force responded with further spending cuts to save more in the event that they lose their jobs like their less lucky former colleagues. With consumption tax/VAT revenues falling as a result of the contracted consumption levels; government revenues decreased while expenditures increased over 2011 figures. With the above, don’t you expect a fiscal crisis? Duh! If that was not bad enough millions were spent on social programs like cutting grass which has negligible position impact on economic growth. After a year of economic decline in 2012, we were bound to get worse in 2013 as the 2012 decline would have scared households even more forcing them to further cut on consumption.

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