Manning: UNC wage subsidy bad for TT

PNM San Fernando East candidate Brian Manning said the wage subsidy being proposed by UNC political leader Kamla Persad-Bissessar is unworkable, unsustainable and can jeopardise TT's economy. Manning, the son of former prime minister Patrick Manning, made this observation during a virtual meeting in St Joseph Village, San Fernando on Saturday

He said, "I would challenge any economist who wants to protect his professional integrity and reputation to tell us if they approve of a wage subsidy." Manning said the reality which everyone in TT knows is "we have been trying to strip this economy of subsidies for at least the past eight years." He said it is public knowledge that this is being done "because of how inefficient and unproductive it is." Manning explained that this kind of policy being promoted by the UNC "is exactly why Venezuela collapsed." He said the Venezuelan government "started to subsidise everything." Manning added that when oil and gas prices fell," the subsidies which the Venezuelan government was providing to its people "became unsustainable."

'We have to avoid that at all cost." He reminded PNM supporters that the Government has been working to gradually reduce the fuel subsidy. Manning said if money has to be spent to create jobsit must be in a creative and productive manner. He praised the PNM for its efforts to stabilise the economy after the collapse of oil prices in 2014.

Citing TT's ability to produce low cost energy as one of its competitve advantages, Manning said TT can be attractive to energy intensive industries. "We should be producing iron, steel, plastics and aluminum." Recalling opposition to a proposed alumimum smelter proposed by his father's former administration, Manning said the risks of people being poisoned by aluminum smelting have been exaggerated by local critics of the smelter. Saying it is a fact that aluminum is the metal of choice from planes to kitchen utensils, Manning said people opposed to the development of a local aluminum industry "should take the principled stance of not using anything made with alumium." He added that "aluminum is the number one industrial metal used in the world."

Manning argued that through the creation of sustainable downstream industries, "we have the possibility of creating thousands of jobs." He also praised the establishment of the Heritage and Stabilisation Fund and said it has saved the country from economic anarchy. Manning suggested ways be examined to strengthen the fund for the benefit of the population. Noting the plethora of challenges facing the country, including the covid19 pandemic, Manning said this is why he chose to become involved in electoral politics. He declared now is not the time to take a chance with people desperately seeking political power and offering proposals to the population which they themselves cannot prove are workable.

"Some of the decisions that we make in the next few years are really going to determine the future of this country for generations to come."