The Tribune editorial of Thursday, December 27, 2008 lead us through the recent 'debate' in the House of Assembly over the FNM governments appropriations bills that were presented to Parliament to clear up the PLP's budget over runs during the government's fiscal year 2006 - 2007. If I remember correctly the budget over runs were reportedly in excess of $150 million dollars.
Of course the PLP did look bad as a result of the appropriations - as they should - and they felt it was important to defend their honour. Unfortunately they did not express remorse, just the usual symbolism over substance.
However, the problem goes deeper than PLP or FNM budget deficits. And Dr. Milton Friedman explains why as follows:
There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money. Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost. Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch! Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government. And that’s close to 40% of our national income. More...
Until our government, FNM, PLP or any other group understand this it is doubtful things will change, leaving future generations of Bahamians saddled with mountains of debt. A debt that now totals almost three billion dollars.
And so The Tribune editorial is correct that in spite of the PLP defending the indefensible, "the exercise was certainly worthwhile. An accounting to the people of this country as to how their taxes are being managed was long overdue".
To that I say three cheers. Now it's in the FNM's court to continue to properly account to the Bahamian people on a regular basis, even when they might be as embarrassed as the PLP felt over their lack of consideration for being accountable in the recent past.
In the FNM's first two terms as the government of The Bahamas, they brought the country a long way where transparency is concerned. Like most governments they went off the tracks on several issues their last two or three years in power.
The FNM paid the price and were voted out of office. After spending five years in the political 'wilderness' they were re-elected in May this year and now have the opportunity to institutionalise accountability through legislation.
I wonder if they have the political will?
