TT is collapsing, says Opposition

He also charged that the present People’s National Movement Government has not presented an economic plan for its recovery.

“Standing and blaming the People’s Partnership Government does not change the fact that this Government has failed to manage the economy in the interest of the people,” he said.

He said this was evident in the March 17 report of the Central Bank.

Supporting the motion calling on the House of Representatives to condemn Government for rising levels of unemployment and increasing poverty in the country, Rambachan on Friday said, “The gross incompetence we have seen in the PNM has been unparalleled.” It was disturbing that as they speak of unemployment, he said, the Minister of Labour, “over and over” cannot tell the country how many people have lost their jobs.

The minister keeps hiding behind the formal requirements of companies have to report retrenchments, he said.

“Did you become a minister to enjoy the ride as a minister? To get a fat salary? To dress up every day? To drive in a big car but you cannot tell the country how much people are losing their jobs?” he asked.

The government cannot put an economic plan of action to deal with the level of unemployment when it does not know how many people have been displaced and in what areas of the economy.

“If you don’t have that information. How can you plan?” he queried.

Declaring that Government cannot continue to borrow to stabilise the economy and that budgetary balancing was not an exercise independent an economic plan, he said, “The danger we are facing in Trinidad and Tobago under this Government is that it continues to put all its eggs in the energy basket.” Due to rising unemployment and poverty, Rambachan said, “There is a very serious social upheaval in this country that has not found physical expression, but mentally and psychologically people are deeply affected.

He said, “One wonders if the way people are psychologically and mentally affected is not leading to the frustration that is bearing out in violence to persons even in homes, and children against children in schools.” Someone has to take charge of what is happening to the social fabric of this country, he said. Claiming that the First Citizens Bank (FCB) initial public offering (IPO) under the PP administration was a success, he said, Government has to explain why a public relations excuse was being used to extend the FCB additional public offerings (APO) has been extended for two weeks after it was due to close on Thursday.

“Is it because people are losing confidence in the economy? When there is a loss of confidence by consumers and business people you are looking at a horrendous situation for the country,” he said.