Where has the money gone?

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July 25, 2012

Dear Sir,

A month ago I asked the PLP to support its claim that it had spent $1.38 billion on capital projects since 1999, because I just couldn’t see it. Silence has been the response. Other commentators have used Government’s own records to confirm that over the last 14 years the PLP has actually spent around $650 million on capital projects, about half of its claim.

I doubt we have obtained value for money based upon many well publicised and mismanaged projects given to friends and family, but at least we have a figure.

That of course means that the other $650 million or so of the monies borrowed from overseas and approximately $9.5 billion received in tax revenue has been spent just running the country. This sum averages about $2 million a day.

Where, oh where, has all this money gone? Services are being cut, charitable support is being cut and infrastructure maintenance is being cut. In fact the PLP is cutting everything possible, short of risking votes. I do know where about $1 out of every $10 of all Government revenue does go — to pay the interest on the PLP-generated debt.

It is quite obvious that the PLP don’t know how to budget and follow their own financial toolkit advice. It is all about retaining power for the party at all costs and to hell (or at least third world status) for Bermuda and her people.

CAN’T WAIT FOR PATI

Pembroke

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