Shoul Defends ABLP’s Record While Slamming UPP’s Governance Failures

Senator Philip Shoul took aim at the United Progressive Party’s (UPP) tenure in government during his contribution to the 2024 budget debate, offering a scathing critique of their policies between 2004 and 2014. He outlined a series of financial and infrastructural challenges that he claimed were created or mishandled by the UPP, leaving the Antigua and Barbuda Labour Party (ABLP) to address these issues.

One of the central points of Senator Shoul’s remarks was the collapse of ABI Bank, the largest indigenous financial institution in the country. He accused the UPP of recklessly borrowing from the bank to finance high-interest short-term bonds. According to Shoul, the UPP’s inability to repay these loans contributed significantly to the bank’s insolvency.

He stated that the Eastern Caribbean Central Bank had issued warnings to ABI Bank’s board of directors to curb borrowing practices and prioritize repayment, but these warnings went unheeded. Shoul noted that upon the ABLP’s return to power in 2014, Prime Minister Gaston Browne had to secure $300 million to stabilize the banking sector and protect depositors.

Shoul also pointed to stalled and incomplete infrastructure projects under the UPP, calling them emblematic of poor governance. He cited the partially built road over Christian Hill and other roads that he claimed were left unfinished or poorly maintained.

He referenced the state of St John’s city, alleging that UPP initiatives, such as closing the gutters and installing ineffective drainage systems, worsened the area’s infrastructure. He dismissed the UPP’s efforts as superficial, describing them as limited to painting sidewalks blue and yellow.

Turning to the Social Security scheme, Shoul accused the UPP of neglecting its responsibilities to statutory bodies, which he said led to arrears in payments. He contrasted this with the ABLP’s record, stating that the Labour Party had contributed over $200 million to the scheme since 2014.

He acknowledged that the government had deferred contributions in 2024 but assured that payments would resume and arrears would be cleared.

Shoul also criticized the UPP’s handling of key assets such as Half Moon Bay and West Indies Oil Company. He argued that the UPP’s decisions led to financial burdens, which the ABLP later resolved. He credited the Labour Party’s leadership for negotiating debt forgiveness and restoring profitability to entities such as West Indies Oil.

Shoul said the ABLP government had inherited significant debts and liabilities, including $140 million owed due to a Privy Council judgment involving the Antigua Power Company. He described these debts as a burden created by the UPP’s mismanagement.

Throughout his speech, Shoul contrasted the UPP’s governance with the ABLP’s policies, which he said prioritized economic growth and infrastructure development. He cited improvements in debt-to-GDP ratios and ongoing road repairs as evidence of progress.

The Senator closed by urging the opposition to acknowledge the challenges created during their tenure and support the current administration’s efforts to address them.

Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]