Dookeran hits Govt on economy

He made the point on Friday in the House of Representatives during debate on the Fair Trade Bill 2006 which was eventually passed with one amendment and which now heads back to the Senate for further debate.

The Bill establishes a Fair Trading Commission and promotes fair competition in the economy.

Dookeran said the Government is the biggest distorter of fair competition in Trinidad and Tobago. He said the purpose of the Bill is to improve people’s lives by removing distortions in the economy. “But the real source of distortion, inefficiency and welfare loss is not through competition or lack of competition, but through the Government’s economic programme.”

This distortion, he said, was reflected in shortages of labour, materials, goods and services. “The drug economy is also a major source of distortion.”

He said Trinidad and Tobago’s economy was now characterised by “good economic indices” but “poor economic fundamentals.”

Ordinary people now face the burden of the Government’s poor economic fundamentals, he said, by paying higher prices variously for food and house construction.

He slammed the Government for blaming people for its shortcomings. “They say the inflation rate in Trinidad and Tobago is the result of consumer exhuberance. They are making excuses!”.

Minister of Trade, Ken Valley, hit back at Dookeran saying he had chaged his tune since the first time he had spoken on the Bill. “Did he read this Bill?”, pondered Valley. Lambasting Dookeran for not staying to hear his reply, Valley scoffed at him: “All show and no substance.”