The rich are getting richer and the poor, poorer.
So said MSJ Political Leader David Abdulah.
Speaking on Sunday, he said major conglomerates and banks have been posting record increases in revenue and profits while ordinary citizens haven’t seen improvement in their personal circumstances.
He quoted the Mighty Sparrow saying, “too many are ketching their backsides!”
Abdulah said Ansa McAl and Massy posted increases, “the income of the vast majority of citizens –workers, small and medium size business-people, the self-employed, farmers and fisher-folk – remained the same,” he said. “And most have not had an increase in 10 years!
“In simple terms the information about how well the big conglomerates are doing compared to what is happening to the wages of workers, and the incomes of the majority, is that the rich are getting richer and the poor, poorer.”
Abdulah said the Minister of Finance’s boasting of the improvement in the economy does little unless what is really discussed is, who is beneftting most from the “improved economy.”
He said, “All the big companies in T&T – the energy multinationals; the big conglomerates; the banks and insurance companies; the big food importers; the large contractors; and others – are favoured by whichever party is in office. This is why these companies thrive regardless of who is in office.”
Abdulah pointed out that people don’t feel like they have a fair stake in the country and they don’t feel like they have an opportunity to benefit from its wealth.
He said until this changes, “we will have some, mostly young men, who feel so dispossessed that they will stop at nothing to dispossess others of everything including our lives.”