Difficult times for Gibraltar and life globally
Gibraltar’s economic output, appears to have been a major drag on the economy which now resembles a heavy lead weight travelling downwards into deep water. Our health service is in disarray and GHA staff morale, again I have been told, sinking just as fast. It’s also, where the government refuse for whatever reason, to bring the civil service out of Covid Habitation. This has created a dangerously negative widespread situation, causing untold damage on public confidence against official institutions that has already generated strong criticism in areas of duty of care and services provided to the community.
As I have mentioned, this is a vastly important issue and none of it is easy. Particularly, as we attempt to turn the pages on recent (Covid) events and start a new unprecedented economic chapter for our country with a ‘UK and Gibraltar out of the European Union’. It is a defining chapter in our history that will serve as the prototype for future governments to follow, without doubt. However, this will not happen if political posturing overtakes the will to do what is right for our nation!
But I repeat, these are indeed historical and difficult times for Gibraltar and life Globally. I and countless other people I have spoken to last week, including professionals in the world of local finance, businesses and commerce, but importantly, the ordinary worker generally agree, that they see no sign or evidence that Gibraltar is effectively readying itself to face a new post-Covid and Brexit future. It is more confusing, when people know there is a ‘National Economic Plan’ in place ready and primed to be activated. But the plan, one of the most important government commitments contained in their election manifesto, is still to see the light of day, 10 months after the election took place?
From our own perspective, we will not know exactly, how our GDP has fared until sometime next year it seems. This mainly due to the manner this economic data is worked out because how our small economy operates. Which in my humble ignorant opinion, I would have thought it would have been easier and much faster to ascertain information. But who I am to argue with the financial gurus who help create the current muddled and confusing situation.
The Chief Minister, has been warning for months, even as far back as last year about the negative economic consequences for Gibraltar. I recall last year, Mr Picardo challenged a report in the Times newspaper on the ‘Yellow Hammer’ report. The negative economic consequences are NOW HERE!
The Government, is anxiously waiting on a 500-million-pound loan announced in Parliament in March. At the time, it was said they could borrow this huge amount of money and obviously pay back. Though it appears, things are not as clear cut as first thought, as this money still remains in the bank until the UK government who is guaranteeing this financial loan, is satisfied that all normal loan formalities have been met. As I understand it, much is riding on the completion of this loan. Though where, how and what direction, loan funds once received will take, is another ‘economic unknown’ in the grand scheme of things?
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17-08-2020 PANORAMAdailyGIBRALTAR
