PLP debt claim `Downright silly' says Saul
Ministry to question him on Government finances.
His challenge followed Opposition charges that Government had concealed the true size of the national debt and failed to produce up-to-date accounts.
The Hon. David Saul said the PLP had been "downright silly'' to allege the national debt could be double what Government had said it was.
They had shown an "apparent complete lack of understanding''. He said claims from the NLP and PLP about Government accounts were made from political motives and ignorance.
Dr. Saul did admit reports from the independent watchdog, the Auditor, had not emerged for four years running. But he said Government's own "handsome'' financial reports, published every year, accounted for every penny of taxpayers' cash.
Dr. Saul's comments came after a speech by Shadow Finance Minister Mr. Eugene Cox which attacked Government handling of the economy.
Dr. Saul said Mr. Cox had tried to mix up Government's pension liabilities with the national debt, when the two were kept separate by all other countries.
The national debt was a "minuscule'' $75 million, he said. "Our credit worthiness is excellent.'' He said Government's "Report and Accounts of the Consolidated Fund'' had been produced for the last four years by the Accountant General, a Government employee.
They contained a certificate of correctness from the Auditor, said Dr. Saul.
The most recent report was for 1991-92, he said. "You could rest it on the coffee table at home and scan it every now and then.'' Anyone with questions on the report could call him, he said.
The 1992-93 report would be available in a few months, and it would show "we're living right within our means''.
The independent Auditor's report had not appeared for four years, he conceded.
This was a report on "how Government departments have performed in their accounting practices'' and possible improvements.
The Auditor had said he was short of staff to produce reports, but he was now fully staffed and would produce the backlog.
The Accountant General worked with the Auditor and heard any problems he raised.
The Auditor had "no qualms about how things are being run'', he said. Dr.
Saul also rejected Mr. Cox's statement that Government had neglected training.
It had run many training courses during the recession and put tens of millions into Bermuda College.
NLP chairman Mr. Geoff Parker said yesterday the last Auditor's report "raised more questions than answers''.
Mr. Cox, as public accounts committee chairman, should have ensured the reports came out, he said.
"The PLP and the UBP have jointly put this Country into the position we are in today -- the PLP because of their inability and the UBP for taking advantage of the PLP's inability.''