Indeed, those big cuts will leave many unhappy - part of the grim future that is in store for government finances generally. This year alone, the economy is expected to contract by 20%, leaving the debt to GDP ratio at a catastrophic 130%.
I'll say that again: By next year April, our national debt could be 130% of our GDP.
That's dire in the extreme - and it begs the questions who would want to lead a country at such a difficult juncture? Well, bet your bottom dollar that Patrick Faber would! He's been aiming for the top job since he was a teen, and even though he suffered a major setback earlier this year, today he told us that he still has his eyes on the prize, no matter how difficult the days that lie ahead:
Hon. Patrick Faber - Minister of Education
"I have gone on the record to say, and it remains my position, that this takes a back-burner to our fighting the COVID-19. Yes, things are looking to return as normal as we can get it after such a fight against COVID. But, my position remains. As I've said, we've just put it on the back-burner a little bit. But, my aspiration is still to become the new leader of the UDP, and of course, by extension, to lead this country."
Reporter
"Last week, the Prime Minister said that the next PM is going to have to deal with the issue of the wage bill, and the economy going forward. Seeing that you have that ambition to become the Prime Minister, where are you in terms of, how would you deal with something like this. I know people have been pushing out the idea of retrenchment of all different kinds of things."
Hon. Patrick Faber - Minister of Education
"I side perfectly with the Prime Minister in that regard that we want to do anything like that absolutely as a last resort. I think history has taught us, as a country, but more specifically as a party in Government, that retrenchment is never an ideal thing. There is no secret, as you've mentioned - the Prime Minister has also hinted to it - that it's going to be a tough road forward. But, it is all the more reason why you need good sound leadership at the helm of the ship. You need somebody who understands that it's not going to be easy, that there are certain things that you can't whitewash, and you can't pretend. It's going to be a tough time forward. And whether it is - whichever party is in power, a leader who does not embrace that, and understands that this is the case, and does his best to ensure that people understand that right away. You know, we don't want to scare people. I don't want people to go away, after listening to the news this evening feeling that well, if Faber comes, it's all pain and doom. But, we are experiencing tough times, not of our own making. The measures that are needed to fix things might not be as pleasant. Where it is that we can give a spoon full of sugar, then okay. But, by and large, it's going to be a tough road. It is a challenge that I am prepared to take."
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