Former Prime Minister Patrick Manning often boasted of his Government's management of the economy. Manning, industrially ambitious and in pursuit of a larger vision (2020), set his Government's agenda during his budget presentation of August 2007. Manning, aware of criticisms of "overspending and injudicious use of taxpayers' money" by his administration, denied it was an election budget. He said it was "couched within a medium-term framework that represents the second five year span on our longer term journey."
Two months after his budget delivery, his party was re-elected to serve a second term earning five more seats in the Parliament. Those goals were cut short by Manning himself. Billions have been spent on projects that have yet to be completed, some are still on the drawing board and some controversial ones (property tax and revenue authority) have been shelved. As the country awaits its new financial plan from the People's Partnership Government, how much did the former administration achieve?
How much of the last administration's agenda will be retained and pursued by the new government? The multi-billion dollar Rapid Rail was the first to be discarded. The campaign promise to stop work on the Alutrint smelter plant is said to be under review by the Energy Minister. Some projects will be pursued: the Licensing Authority and the National Highways Programme. And a few will be retained in reduced capacity: the Water Taxi service.
And just what will the new Government do with the skeletal remains of Manning's vision, the multi-storeyed buildings in the city centre? Many questions. Even less answers. This week the Business Guardian presents its condensed review of the past three budgets. The 2007-2008 budget was an instructive starting point as it not only highlighted the PNM's previous five-year governance but set the lead for the following two budgets.
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