British High Commissioner Tim Stew
US$2.6 trillion. That's the figure the World Economic Forum estimates corruption costs the global economy each year. If, simplistically, you were to split that figure by the world population that means the cost to each of us as global citizens each year is US$351, or TT$2,350.
I mention global citizens because corruption affects us all, wherever we live. None of our countries are immune. Corruption runs counter to our shared human values. It rewards those who don't play by the rules. It creates a system of patronage where resources are shared by a small elite, while the majority are denied the benefits and proceeds of growth which are rightfully theirs.
But tackling corruption isn't just morally right. It's economically right too. Companies complicit in paying bribes find they face higher costs, or–operating in an unpredictable environment–begin contracts which aren't honoured or completed. Services and people suffer. Companies face legal or reputational damage for being complicit in a corrupt system.
Still more importantly perhaps, over the long term it is the societies which create and enforce stable rules which attract high-value investment. Investors are prepared to risk more of their money in those environments.
Governments have a significant role to play in tackling corruption by passing legislation, promoting transparency and accountability, and providing efficient services which reduce the risk of fraud.
But what about personal responsibility? When faced with a question of whether to pay a bit more to someone to help us jump a queue, or accept a discount in return for a favour, or avoid paying a tax, we each have a choice. We can just go along with it, same old. Or we can say no and help break the chain of corruption. Perhaps that sounds idealistic. The cynics certainly argue there will always be corruption in society, because people are too used to taking "shortcuts". But while that may look attractive immediately, we should think harder about it. In practice each "shortcut" is contributing to a greater cost which falls on all of us: US$2.6 trillion each year.
This is why David Cameron described corruption as one of the greatest enemies of progress in our time and the cancer at the heart of many of the world's problems. And why earlier this year Britain hosted in London the first global anti-corruption summit.
Following from this summit, at the British High Commission we're marking International Anti-Corruption Day on December 9 in several ways. These include funding an anti-corruption workshop organised by GovRisk to share good practice amongst organisations across the Caribbean. And hosting a public anti-corruption debate, featuring Minister Stuart Young, Dion Abdool Chair of the T&T Transparency Institute and Richard Blewitt Resident Representative of UNDP. You can follow and join the debate. It will be live on Twitter between 1100 and 1215 on December 9 under the hashtag #BreakthechainTT. Follow #BreakthechainTT and @HCTimStew and tweet your comments and questions to our panellists.