JAMAICA | Opposition Blasts Government's Economic Record: "Nine Years of Mediocrity"

KINGSTON, Jamaica, March 13, 2025- In a blistering attack on the Holness administration's economic stewardship, Opposition Finance Spokesman Julian Robinson has denounced the government's much-touted ASPIRE Jamaica initiative as nothing more than "5 in 4 repackaged and rebranded" — a stinging reference to the government's previously failed economic growth promise.

During his fiery contribution to the Budget Debate in Parliament on Thursday, Robinson painted a picture of an administration adrift, "out of ideas and out of time," while presiding over what he described as a perpetual cycle of "low-wage, low-tech, low-productivity, and ultimately low-growth" economic policies that have left ordinary Jamaicans struggling.

"The fact is that, if all we do is tinker around the edges, which this Government continues to do, our economy will remain stagnant—trapped in a low-value-added, low-income system that simply cannot deliver a better quality of life for the majority of the Jamaican people," Robinson declared to the House of Representatives.

The Opposition Spokesman took particular aim at what he characterized as the government's misleading narrative about its borrowing practices. "There's been this narrative that the government doesn't need to borrow money or has not borrowed money; that somehow the government is funding all its programmes from tax revenues.

Well, let me just set the record straight, Mr. Speaker. For the upcoming fiscal year the government plans to borrow $158 billion to help finance the the J$1.3 trillion budget," Robinson asserted.

"The current fiscal year ending, they borrowed approximately J$198 billion. So, they must be honest with the Jamaican people—they are borrowing to
fund the budget. Stop pretending that the entire budget is covered by tax revenues.

"And for full transparency, Madam Speaker, let me share this with the House. The total public debt stock is estimated to reach J$2.22 trillion by the end of FY 2025/26.

"By the end of FY 2028/29, the government projects that it will rise to J$2.34 trillion. For full context, by the end of FY2015/16, the total public debt was estimated at J$2.07 trillion. So despite their claims, the absolute value of the debt has actually increased under their administration," Robinson declared.

This claim prompted an immediate point of order from Finance Minister Fayval Williams, who accused Robinson of misleading the House. Williams insisted that her budget presentation had clearly outlined the debt due in the upcoming fiscal year, the portion of the budget the government expected to finance, and how much would be covered by the country's own resources.

Robinson also took issue with what he described as a "strawman" argument from the Finance Minister, challenging her claim that there had been suggestions for the government to use Net International Reserves to address current issues — an assertion Robinson flatly denied.

In perhaps his most pointed criticism, Robinson mocked the government's penchant for grand announcements that fail to materialize into tangible results. He specifically highlighted the Economic Growth Council established by Prime Minister Holness in 2016, which promised 5% growth in four years but delivered what Robinson sarcastically termed "a measly" 1.25% over that period.

"The highest growth figure in the four years was less than two per cent. It was 1.8 per cent," Robinson noted, using these figures to bolster his argument that despite nine years in office with "record-high tax revenues and macroeconomic stability," the Jamaica Labour Party government has failed to make the investments necessary to create a new economic model capable of spurring meaningful growth.

Robinson characterized Tuesday's budget presentation from Finance Minister Williams as "more of the same old approach" that has left Jamaica trapped in a cycle of "low growth and high hardship."

"We heard no serious, coordinated strategy to grow the economy and no aggressive push to improve productivity. Instead, it was more tinkering around the edges while Jamaicans continue to struggle," Robinson concluded, leaving little doubt about the Opposition's stance that after nearly a decade in power, the Holness administration has delivered little more than economic mediocrity to the Jamaican people.

"Without serious investment in skills training, innovation, and modern infrastructure, we will never break free from this cycle of mediocrity," warned Robinson, presenting a stark assessment of Jamaica's economic future under current leadership.

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