APNU+AFC MP says Budget 2020 neglects working class
APNU+AFC Member of Parliament Juretha Fernandes on Tuesday criticized the 2020 National Budget as one which makes no provision for equality.
Fernandes during her maiden speech in the National Assembly said the working class was “completely neglected” in the national budget.
“Members on the opposite side of this House is selling a dream to the Guyanese people, a dream that seeks to convince us that giving tax breaks to corporations will result in prosperity for the working-class family. But this dream will not be sold as such a concept is riddled in fraud,” the new Parliamentarian said.
The 2020 ‘emergency’ budget has been criticized several times during the ongoing debates in the National Assembly as one which caters more to the private sector and business owners.
“This budget was not put together with the ordinary Guyanese people at heart. This budget lacks compassion for our people, it wreaks of crude capitalism, a system in which the wealthy gets wealthier at any cost,” Fernandes added.
She noted that businesses are not obliged to share their profits with workers.
Referring to comments made by Billionaire Warren Buffet and others, she said: “giving tax breaks to the rich and large corporations does not create jobs.”
Further, she said the claim that cuts in taxable items and business taxes would reduce the prices of items and ease the burden on the poor is a “misunderstanding of basic economic principles.”
Using data from the 2012 census, Fernandes said a budget which caters to borrowing some $75B will equate to a national debt of $357,000 per household.
As such, she criticized the $25,000 promised to every household as COVID-19 relief.
“If their plan for prosperity is a one-off payment of $25, 000 per household, with no focus on equity vs equality, then there is absolutely no prosperity to look forward to,” the APNU+AFC Member of Parliament said.
The budget was presented under the theme “Our Plan for Prosperity”.