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PNG Govt's Economy Manifesto flawed, say O'Neill

Former Papua New Guinea Prime Minister Peter O'Neil says   new treasurer's economy is fake as it contains figures that are flawed, or in reality simply made-up. "This supplementary budget appears to be a turn out the lights budget. The only way we will advance this country is through investment in key sectors and this requires the support of the National Government.

This ridiculous cost cutting for the sake of politics will bring our country to its knees and hurt our people who are in the most challenging circumstances. We must have a Treasurer that thinks long term and works to build our economy for the future.

Ian Ling-Stuckey condemns the eight years of economic management under myself, and James Marape as Finance Minister and his party leader Patrick Pruaitch as Treasurer.
This is just political opportunism from the new Treasurer and is causing a great deal of internal conflict in the Cabinet.

No one can deny that during our Government we change the Nation by building the infrastructure that our country badly needed. Certainly during that time our Cabinet with James and Patrick, saw a rise in debt, but you just have to look around and ask if we advanced the country.

Did we build the infrastructure that Port Moresby needed – the roads, bridges, the flyovers and port facilities? The answer is yes we did. Right around the country did we build new hospitals and care centres, did we build we teacher training colleges, did we build new air strips? Yes we did.

The new Treasurer initially said under his management of the economy there would be no more debt, but the Prime Minister has overruled him and said debt would be consolidated in Australia and China.

When it comes to the DSIP, I do not believe Ian Ling-Stuckey will not deliver a 20% cut, but it will be a 100% cut. This is a cut to essential services in our districts that are badly needed by our people and the blame will be firmly fixed on local representatives.

It appears that the new Treasurer is missing a very key point when it comes to the economy, and that is that for the economy to advance we must create economic stimulus. All he is talking about is economic contraction. As we saw when the global economy was facing trouble in recent years, the best thing for our economy was to stimulate business. Now we have a situation where the Gulf LNG project is on hold indefinitely and business investment is drying up. The number one job for this new Treasurer is to get out and promote the quality and value of our economy to the global investment community instead of talking the country down.

Now is the time to bring investment into our country, not push it away as the new Treasurer is doing."

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