Special Feature
October 28, 2005

PM: Where did Eustace get Economics degree?

Prime Minister Dr. Ralph Gonsalves is questioning where did Political Leader of the New Democratic Party, Arnhim Eustace, get his degree in Economics.

On Sunday night at the launching of Selman Walters at North Union, Dr. Ralph Gonsalves lashed out at Eustace labeling him as being “intellectually dunce”.

The Prime Minister expressed concern at charges Eustace leveled at him with regard to the implementation of the capital budget.{{more}}

Dr. Gonsalves also described Eustace’s claims as “intellectual dishonesty”.

On Saturday, October 15, Eustace, addressing NDP supporters at Dauphine, said the $450 million budget presented by Dr. Gonsalves in 2004 was bloated and could not be implemented.

“I told him last year that he could not reach a hundred out of the 207 ($207 million of the capital budget), but it looks like it would be even less than I thought,” said Eustace.

“When it comes to Law, I will listen to him, but what I forget about Economics he ain’t learn yet,” said Eustace of Prime Minister Gonsalves.

“Eustace said I am not spending enough money on the capital budget. He said by the end of August we have spent $40 million out of $200 million. As Eustace knows when I gave him the figures to the end of August of $40 million that money does not take into account the monies which have not yet been journalized, you have about $15 million or more not yet journalized.

Dr.Gonsalves pointed out that at his administration’s current rate of implementation over $100 million will be spent.

He lamented that sometimes with capital projects administrations do not get all the money when they are supposed to get it from international countries.He added that although this is a challenge there is no government in the history of St.Vincent and the Grenadines which has spent the capital budget as well as the Unity Labour Party.

“And the crux of the matter is this, even up to the end of August, even where you don’t journalize the other $15 million or so the $40 million up to the end of August is more than Eustace spent in the whole of 2000 which is the last year of the NDP administration,” said Dr. Gonsalves.

The Prime Minister noted that in 2000 with all the monies journalized the NDP administration could have mustered only $35 million.

Dr. Gonsalves said he wants to know how Eustace can call himself an Economist.

“Do not come to me with intellectual dishonesty, Arnhim Eustace, I will unmask you,” Dr. Gonsalves warned.