Editorial: Tight corner

POSTED: 01/8/13 11:51 AM

Financially the country remains in a tight corner, or so it appears from the frank information Finance Minister Roland Tuitt gave during his press conference yesterday. The financial supervisor Cft has given a negative advice on the draft 2013 budget, yet the minister remained confident that an agreement will be reached once the additional information he submitted is taken into account.

The matter of the insurance premiums where the government managed to bring the cost for insuring buildings down by around 50 percent and for the vehicle fleet by an astonishing 62 percent warrants closer inspection, though Minister Tuitt (probably wisely) stopped at the rhetorical question: How is this possible?

The real question is why governments over the years have allowed the previous insurer to fleece the public treasury to this extent. We understand that this government wants to move forward, but these almost criminal price differences are screaming for an investigation.

While the amounts involved are in the big scheme of things not all that shocking, one may well wonder which other services are charged to the government at outrageous prices – and who shares in the profits.

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