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**Just Sayin** » 2012-06-04 10:30

Quote:

Lovell credited the rise primarily to an increase in the number of land title transfers executed during the first quarter of 2012.

These will be all the foriegners fed up with the high cost of living and corruption selling their houses and leaving the island. If you disagree just take a look at the number of houses and boats being sold at Jolly Harbour, and of course a lot of these foriegners had businesses that are now closed.

Congratulations Mr Lovell, your strategy for destroying Antigua is working as planned!

**Veronica Roberts** » 2012-04-27 13:26

A Question to the Minister of Finance: Why the Government want to take 25% out of poor people gratuity after working so hard for thirty odd years?
Man that is total wickedness to the the highest degree not even a 10%.
Persons need to go on government's website to see these brackets that they have. Not even the Opposition looking into this. Only in Antigua, if someone is not affected they dont care about the week. Lord help me

**John French II** » 2012-04-27 01:02

Notes From A Native Son Of The Rock. Now for the Side Shows. The Board Chair of the ABIA and The Comptroller of Customs. This "mere voice in the wilderness" advised that the Good Doctor was not to be taken lightly. JF suggested that he not be ridiculed but that his words be taken seriously. Many did not heed the advice and savaged him mercilessly. This was his coming out party.
Again, it was pointed out that The Comptroller of Customs was taking his Strategic Imperatives from the IMF. The venom spewed from some quarters at this commenter was downright ridiculous given that the Raj identified: that he was untouchable and selected because he knew where to ferret out the hidden revenues: that he would be governed, guided and directed by the dictates of the IMF and working to ensure that the Businesses would see the Benefits of his operations.
Hear the words of the Good Hon Dr. Min. Of Ed. "TEK DAT!"
"My Dear People" "Pay Attention!" Literacy and Numeracy are Twins. They are not Mutually Exclusive.
Many Men, Many, Many Men wish Death Pon Us! Don't Look to the Sky No Mo! Don't Cry No Mo!
Heaven Help The Nation Of Antigua & Barbuda including Redonda.

**John French II** » 2012-04-27 00:38

Notes From A Native Son Of The Rock. Focussing on the Messenger leads to poor communication and receipt of the Message. It was noted that ABIB's woes, unknown before 2010 caused some irritants with the Bretton Woods Cabal. It was also noted that the resolution was in the hands of the ECCU. You have been there and done that. The Red Rabble Rouser Senator has been shouting from the Mount Obama without naming names since the RAS debacle. Where were the PS, Bureaucrats, Technocrats? Do you think that the FSRC may have had a clue? Where was the Board Chair, The Legal Beagle & The Good Lady Senator of the House of Sober Second Thought? The IMF issued a severe whipping or some would say a swift kick to the solar plexus chakra. Sir Dwight now has the green light to move swiftly. Those IMF tranches are needed. The FSRC has placed ABOB in receivership. The board is now set for Sir Dwight to Run The Tables and Clean Out The House. Sir Dwight is rubbing his hands with **in like glee and echoing the words of Quote:

Rahm Emanuel: "You never want a serious crisis to go to waste."

This will satisfy the IMF and the Standy Funds will once more begin to flow to GoAB.

**John French II** » 2012-04-27 00:07

Notes From A Native Son Of The Rock. It is instructive that this exercise compares 2010, 11 & 12. Why is 2010 the year when everything seems to begin?
"My Dear People" that is Time Zero: In the End, there was the Beginning, Year One of Living In The IMF's NEST. The Vendor says "Pay Attention!" The Total Revenue collected has increased to $162.7M and expenditures are at $165.3M with a small deficit of $2.6M. The Bretton Woods Cabal is smilling. The North Atlantic bankers will be repaid. This was "Show & Tell" for the IMF and to provide the fig leaf of "Transparency & Accountability" . "My Dear People" the "Medium is the Masssage". There has been a decrease in Pensions, Gratuities and other Transfers! Salaries & Wages are Down! Goods and Services are DownI "Pay Attention!" Public Debt Servicing is UP. Transfers & Grants are UP. Do You Get The Message? The Populace must be brought fully into the IMF's NEST. Tenman has noted that the Debt has been reduced from approx $4.2B to $2.9B. "Pay Attention!" Don't let the swiftness of the Hand Deceive the Eye. "Smoke & Mirrors!" There is more to come from the IMF and PRoC. U No The Numbers! Have Mercy Pon Us.

**John French II** » 2012-04-26 23:33

Notes From A Native Son of The Rock. Excellent Communication exists when the receiver fully comprehends what the sender has directed her/his way and the sender is fully satisfied that his message has been accepted by the receiver.
The Hon. Min. Of Fin. has advised that Quote:

the government's recurrent revenue had increased by $13.1 M in the first quarter of 2012, compared to the same period in 2011. This improvement, the finance minister said, was due to a $14.3 M increase in revenue collection from stamp duties.

Was this due to a reenginereed Structure or redesigned systems or restructured processes to effect an efficient collection? Can this be attributed to Structural reforms or some new Fiscal Policy? Quote:

Lovell credited the rise primarily to an increase in the number of land title transfers executed during the first quarter of 2012.

Who bought or transferred these lands in this economic downturn? Who is keeping watch? DCA? Realignment of Land and Money? "Pay Attention!" says the Vendor at the Market.

Read more: http://www.caribarena.com/antigua/news/economy/100341-lovell-provides-1st-quarter-financial-report.html#ixzz1tCutKk2Z

**Morris** » 2012-04-26 22:23

Thanks for the suggestion.

**ANTIGUAN WOMAN** » 2012-04-26 22:16

The picture is very telling,they look uneasy and confused,except for the one sitting beside Miss Imhoff.Lovell looks like he is having a Hemorrhoids flare,he seem to be in pain. Lying do not pay.

**fnpsr** » 2012-04-26 19:09

Morris, I concur. Here is something else.

“The finance minister did not provide an update on the financial standing and performance of the individual ministries, crediting the setback to his ministry's inability to secure timely financial data from the respective ministries.”

How can the Hon Min. provide a consolidated financial statement if the ministries have not provided timely financial data?

Maybe we should have used some of the money from the “fencing scheme” and the like and invest in a computer system that would tie everything together in real time. C’mon, this is the 21st century.

Morris said, “It is not the citizens who are unable to handle the truth, which they yearn for, it is the leaders who are afraid that the very truth will expose their incompetence.” This is very prophetic!

Morris, if I were you I would end all of you posts with that statement; it is almost akin to mine – Let’s fix the little……….

“Let’s fix the little things before we attempt to fix the big things.”

**Morris** » 2012-04-26 17:53

You are absolutely correct. I will add that the citizens have been fed so much lip-service for the longest that they have become desensitized to the realities. Mr. Lovell very well knows that the current system and his subsequent actions are flawed, yet he determined on presenting skewed data. It is not the citizens who are unable to handle the truth, which they yearn for, it is the leaders who are afraid that the very truth will expose their incompetence.

**tenman** » 2012-04-26 17:51

Antigua Woman, the APUA PP prod. summary for march:

..

**fnpsr** » 2012-04-26 17:32

If your FOIA is working, Caribarena should now be able to go to the various departments and verify the information. That would be world class reporting!

Gentlemen ask yourselves, what is the purpose of the Budget if you are not going to use it? And herein lies one of the major problem in the Antigua financial process. Unless this is fixed, we will be spinning our wheels for a long time to come.

With this information, suppose you were at the press conference, think of a few questions that you would have liked to ask the Hon. Min and his team and see if you would have gotten the answer.

“Let’s fix the little things before we attempt to fix the big things.”

**fnpsr** » 2012-04-26 17:31

Morris & Dadliman, I thank you for your input. Suppose I am the CEO of a Company that has been struggling for several years and the CFO brings me a report such as the one presented here, comparing the end of the 1st qtr to the 1st qtr of a year ago and tells me that we have made progress. I would say, that is good, but I want to know how we compare to the current Budget. By comparing to Budget, I will know exactly how we are doing. Since I already know what my annual Budget is, I now have 1st qtr actual numbers to extrapolate to project what the year would look like, way in advance. The numbers will not lie. With this information in hand, I will be able to make appropriate decisions. The detail report that I suggest is more transparent and would serve as a basis for the internal audit team, which reports directly to me or for any independent third part to verify what, was presented. This is the key – verification. One should be able to replicate what was told or presented. If the audit team finds that I was given “sixes for nines”, heads would roll.

**tenman** » 2012-04-26 17:26

Antiguan Woman, part of the problem is you live in Antigua. If you lived in Barbuda, according to the Power plant production summary for march, published in yesterdays Daily Observer (attached to this comment), you would have gotten to pay, for electricity, (Average Tariff) on average 53 cents per kilowatt hr, instead of the $1.17 charged in Antigua. Strange thing is power generation in Barbuda cost APUA more there than it does in Antigua due to the plant using the more expensive fuel (Diesel)

http://www.freeimagehosting.net/ofvt5

**Morris** » 2012-04-26 16:10

I like your detailed format, but we all know too well that, like many other suggestions, it will be ignored.

**DadliMan** » 2012-04-26 16:00

Do you think it was an accident that no specifics were provided? Had specifics been provided, someone may have asked a question that would put King Lyad on the spot. That is Harold Lovell for you. He has the ability to snow you over with BS. I listened to the guy at their press show, and it amazed me how he could so eloquently say nothing.

**maximum** » 2012-04-26 13:00

@ ANTIGUAN WOMAN, well said!

**fnpsr** » 2012-04-26 12:32

My suggestion is just a working document and has to be tweaked to put in an acceptable format. While I have a fair knowledge where category items go, i.e., direct or indirect, I choose not to do that at this time.

“Let’s fix the little things before we attempt to fix the big things.”

**fnpsr** » 2012-04-26 12:29

Summary:

Item Budgeted Actual Diff +/-

Current Acct Bal
Primary Bal
Overall Balance

This format is performance based and at the same time will give you the opportunity to extrapolate to the end of the year. While this format is more macro or more detailed, I believe it is more meaningful.

With the above information, you can now put it into its essential components, i.e. all items that make up direct taxes would be listed under direct taxes and those that make up indirect taxes would be listed under indirect taxes and those that make up the non- tax revenue would be listed under this category. The same would be done on the Expenditure side.

**fnpsr** » 2012-04-26 12:27

Expenditures:

Item Budgeted Actual Diff +/-

Salaries
Wages
Pensions
Gratuities
Goods & svcs
Rent
Travel
Utilities
MBS
SS E-levy
Grants
Capital grants
Debt Svc - Domestic interest
Debt Svc - External interest
Capital expenditure
Net Lending
Power plant
New airport

Total Expenditures:

**fnpsr** » 2012-04-26 12:26

Revenue continued:
Other inflows:

Item Budgeted Actual Diff +/-

IMF
CDB
RGSM Auction
Loan - Power plant
Loan – New Airport
Grants

Total other inflows
Total revenue & inflows

**fnpsr** » 2012-04-26 12:22

Here is one format that I would have liked to see:

Revenue:

Item Budgeted Actual Diff +/-

Stamps
Sales tax
Corp. tax
Capital grants (?)
Capital Contributions
Crown land sales/assets
Port duties & fees
Embarkation tax
Dividends
Property tax

Sub-total revenue

**fnpsr** » 2012-04-26 12:21

I must commend the GOAB for taking the necessary steps to provide financial information to the public. With that said, I did not get a lot of meaningful information out of the numbers. The effort here is to compare the current period to the same period a year ago. From that information, I cannot tell if the GOAB is making progress or not, especially since they have not produced any reports for several years and want to “leap-frog” to the present.

The GOAB has presented a 2012 Budget, which is the current working document. This is the document that I would have liked to see the GOAB compare its performance against. This comparison would have revealed if the government was making progress.

In simple terms, taking the information that was in the report, so that the ordinary person can determine if progress is being made.

**tenman** » 2012-04-26 11:07

Quote:

Minister Lovell noted that Antigua owes some $2.7 billion to creditors as of March 31. This represents more than 90 percent of the country's GDP, but also records a reduction from 140 percent two years ago.

The GDP for 2009 was 3.097 billion (see IMF article IV 2010 page 22 www.imf.org/external/pubs/ft/scr/2010/cr10279.pdf), since Lovell claimed the debt represented 140% of the GDP, it then means the national debt 2 years ago was 4.3358 billion. Persons should recall the debate some years ago when MP Lovell claimed MP Browne was overstating the debt which Lovell then claimed was 3.1 billion. Anyone can help me in understanding when to beleive anything from MP Lovell?

..

**ANTIGUAN WOMAN** » 2012-04-26 09:34

In terms of seeing a reduction in the cost of food,where are the plans? I am tired of working to pay Light bill and buy food only,what are your plans to change that depressing scenario which in most parts were created by your Govt through your tax policies. Where are the plans for the creation of jobs? Are you only a Govt to generate Revenue by taxes,then tell us we,re living above our means? You are now working for the IMF,and must adhere to all they demands,was that our future interest to turn us into Charity cases,you,ll truly disgust me.

**ANTIGUAN WOMAN** » 2012-04-26 09:26

What interest of Antigua,s future are you referring to Mr Lovell? After making us all paupers,killing off all the small businesses, increasing cost of living threefolds,what future do you leave us with? So far we have not seen any major devlopment in the economy that says we are heading in a direction towards a bright future,so what do you have planned for our future? More taxes right? I really think you,ll are living on some other planet,because the struggles we face to survive from day to day,seem not to be understood from your quarters.Absolu tely nothing is going on in A,gua in terms of the economy moving out of the doldrums its in,what are your plans for that?

**POOR WOMAN** » 2012-04-26 08:27

DONT YOU EXPECT TO BE COLLECTING MORE MONEY WHEN YOU TAKING IT OUT OF THE POOR PEOPLE'S POCKETS???

**Jackie Spent** » 2012-04-26 07:39

This is excellent Hon Lovell! Now, Remember, Please don't you dare to explain the spending of the Romantic Rhythms, Willi Fences, Wdadli Power Plant, Public Sidwalks and Drains just to name a few!

Do that and you will be making a mockery of PM BS and the rest of you! So stay focused and ignore Wilmouth, Carib Arena, Lone Wolves, Magic and Hon Maulwyn Joseph!

And as long as Lester stays there we can bang them again!

**DadliMan** » 2012-04-26 06:29

When I see King Lyad seated next to the NY C*x xrxist, that represents a pictorial synopsis of the UPP – all fluff and no substance. I listened to the “show” and Lovell kept saying “I believe that...”. In managing an economy, we cannot afford to rely on Lovell’s hunches. He has enough raw data and financial formulae to speak definitively without telling us what he believes.

Yesterday’s “show” reinforces that as long as that guy’s lips are moving, he is lying.

**OO7** » 2012-04-26 05:26

ASKING QUESTIONS ABOUT THE AMOUNT OF REVENUE CDOLLECTED AND THE TOTAL EXPENDITURE IS ONLY A HALF OF THE COIN. THE ONLY HALF THAT EVERYONE SEEMS TO BE IGNORING IS THE QUESTION OF CONCESSIONS AND THE TOTAL AMOUNT OF REVENUE THAT REMAINS UNCOLLECTED FOR VARIOUS REASONS.
SOME PERTINENT QUESTIONS ARE:
1. WHAT AMOUNT OF TAXES REMAINS UNCOLLECTED AND WHY?
2. WHAT IS THE TOTAL AMOUNT OF CONCESSIONS GRANTED BY GOVERNMENT?
3. A FOLLOW UP TO QUESTION 2. OF THE TOTAL CONCESSIONS HOW MUCH ARE PURELY MINISTERIAL DISCRETIONAL WAIVERS?

THE TAX PAYERS OF THIS COUNTRY HAVE A RIGHT TO KNOW

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