Golding Slams Govt’s Economic Track Record

Mark Golding interacting with the people of East Rural St Andrew during a visit on the weekend. (Image: Mark Golding/IG)

An abysmal failure!

That’s the assessment from Opposition Leader, Mark Golding, regarding the performance of the Ministry of Economic Growth and Job Creation under the leadership of Prime Minister Andrew Holness.

Golding made the remarks at a recent constituency meeting in East Rural St. Andrew.

Mahiri Stewart reports.

The opposition leader is taking Prime Minister Andrew Holness to task over his handling of the economy.

Mark Golding points to the sharp slowdown in economic activity and criticises the prime minister’s recent attempts to shift direction.

This, despite the establishment and management of a so-called Ministry of Economic Growth for nearly a decade.

The Jamaican economy shrank by 3.5 per cent in the July to September quarter of 2024, following flat 0.2 per cent growth in the previous quarter.

To address this apparent stagnation, Prime Minister Holness unveiled a new growth initiative called ASPIRE Jamaica in November.

According to Holness, ASPIRE Jamaica marks a fresh chapter in the nation’s drive for meaningful development, claiming the initiative will break the cycle of weak economic growth.

However, Golding, addressing comrades in East Rural St Andrew, boldly stated that when the People’s National Party assumes office, it will inherit a severely underperforming economy.

It’s important to note, however, that according to the Economic Programme Oversight Committee, EPOC, tax revenues for the fiscal year 2024-25 were revised upward from an original forecast of $899 billion to $905 billion as at October.

This upward revision suggests that, rather than declining, tax revenues have exceeded expectations so far for the year.

Golding didn’t stop there. He also slammed the government for neglecting the country’s road infrastructure until very recently.

On December 30, the government kick-started the $45 billion SPARK programme, marking the beginning of a significant infrastructure push.

It’s one of the largest investments in Jamaica’s roadways in recent history.