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The Saint Lucia government has embarked on a reckless and destructive path, prioritizing the interests of foreign corporations and wealthy elites over those of its own citizens, especially the poor and working class who make up more than 50% of the country’s population. The recent 2.5% health and safety levy, purportedly imposed to improve the country’s weak healthcare system and address rising crime rates, was later revealed to be a ruse to obtain loans from international financial institutions. This levy is nothing short of a regressive tax that disproportionately affects the poor and working class who are already struggling to make ends meet.
The government’s fiscal management has been marred by reckless borrowing and a lack of accountability, with the debt stock increasing by $388.4 million in 2023 and the debt burden increasing by another $400 million this year. Since taking office in July 2021, the current government’s total borrowing has reached a staggering total of more than $1 billion.
The government’s pricing policy for petroleum products was too high, with gasoline prices still at an alarming $16.50 per gallon despite a 20% drop in global crude oil prices. This had a devastating impact on the economy, reducing consumer spending and dampening economic growth.
The poor and working class spend a large portion of their income on energy costs, and now they are forced to spend an even larger portion of their income on energy costs, leaving them with limited or no resources for other basic expenses.
In addition, the government has leased the major cruise ports of Castries and Soufriere to a foreign company, Global Ports Holdings (GPH), for 40 years in a raw deal. GPH invested a measly $130 million and is expected to receive about $1 billion in revenue, while the government gave $5.50 of the $6.50 cruise head tax to GPH, leaving only $1 per head to SLASPA and the people of Saint Lucia.
The cumulative effect of these decisions is an economic disaster marked by reduced consumer spending, stunted economic growth, and a crushing debt burden that will be passed on to future generations. The impact of these policies on the poor and working class, who were already struggling to make ends meet, has been exacerbated by spiraling prices for basic necessities such as food and transportation. The government’s actions are a stark reminder of their utter disregard for the welfare of their citizens and their willingness to sacrifice the country’s economic sovereignty for foreign interests. The people of Saint Lucia must hold their government accountable and reject these destructive policies that are pushing them into poverty and despair.
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