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To the Minister of Finance, The Hon Pravind Kumar Jugnauth

29 avril 2017, 11:58

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You’ve asked for budget suggestions although most will be from vested interests. Economists don’t help much; they never agree on anything. Still, most understand that money doesn’t grow on trees – although there could be an opportunity for Mahen to really innovate. By using 3D printing, a money tree could be a real winner, especially at a time when illusions count far more than reality. Incidentally, why do journalists interview people in the street? It borders on sadism to reveal how poorly financially-informed so many Admirables are.

Around the world, public indebtedness has reached absurd levels. Whoever wins the French presidential election will inherit public finances in a calamitous state – but try telling the French they need to slash public spending. Backed by La Marine, populism is having a field day, but, without a sea change, there’ll eventually be a repeat of the Greek situation, which even Zeus couldn’t prevent.

City states did borrow money in ancient times but Athens preferred to raise money through wealthy sponsors or naval ventures. Sponsorship is addressed by the CSR system although the new arrangements need scrapping. Those dastardly capitalists were making a far better job of helping the disadvantaged more than state bureaucracy will ever do, even if it creates a few jobs for the boys. Above all, firms have been providing not just funding, but encouraging their employees to join in with hands-on assistance to the community.

The second option is unrealistic. Ancient Greek triremes were a thousand times more impressive than a flotilla of pirogues, however vast. What is needed is a government that is statesmanlike and avoids populist measures that lead to greater indebtedness. Politicians, who promise the moon – or four additional public holidays and more state intervention – should take a holiday in Venezuela.

Without trying to emulate Cassandra, many pension systems face bankruptcy. France’s already is. According to rumour, paying the state pension here from the age of 65 has been ruled out – because it might be unpopular – although it’s the obvious solution when people are living longer and the age of retirement is about to become 65. Especially when there’s meant to be a shortage of workers. It’s clearly insidious to take state pensions away from those who’ve made regular payments by introducing a ceiling; too many who’d continue to receive payments haven’t paid a cent.

The alternative would be to follow the Athenian legal requirement that children care for their ageing parents – or lose their citizenship. The ancient Greeks also used donkeys to help care for the elderly and disabled. Your part-time advisers might be able to find a moment to research further into the subject…Their findings might distract the Opposition, whose role seems to have been reduced to populist agitation rather than to contributing any new ideas. A logical increase in fuel prices has led to a barrage of criticism. Although people love having things for free or for as little as possible, most governments use tax on fuel to boost state revenue. It only impacts on those who can afford a car, it’s environmentally friendly and fairer than VAT or the simplistic approach of taking more money away from the entrepreneurs who create the country’s wealth. Still, as you might make an ass of yourself in importing donkeys, raising the state pension age to 65, even if gradually over four years, is a no-brainer. Mind you, politicos seem to be currently displaying more ass than brainpower.

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