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Showing posts with the label BORROWING

FUTURE PAPUA NEW GUINEANS WILL PAY FOR O'NEILL RECKLESS BORROWING

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by PONOWI SIWI REMO

WHEN PEOPLE NEED TO BORROW OTHER PEOPLE'S MONEY FAST, THEY ALWAYS PAY THE PRICE: 

They get less money at more cost and this is what Peter O'Neill is doing right now. He's not mortgaging PNG's wealth, he will be destroying it.

China is a massive sea of humanity, 1.35 billion out of the total world population of 7.4 billion. Much of China's land is desert. There is a massive concentration of population along the coasts and fertile river valleys. As the population has continued to grow, land has become more short, and people struggle just to grow enough food to eat. The massive rural impoverishment has caused a spillover into urban areas. People are packed like tinned mackerel in many of the cities. They have virtually no living space and certainly will never own any land. They will never own their accommodation in most cases, unless it is a tiny little apartment where an entire family is packed. Think of how you would feel if you were forced to live …

PRIME MINISTER KEEPS LYING ABOUT THE MOUNTING NATIONAL DEBT

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by MICHAEL J PASSINGAN

Prime Minister Peter O’Neill reckless, corrupt and unnecessary borrowing is hurting families and crippling the nation with debt that future generations must pay. In 2015 actual Government debt reached K18,571.40 per household under O’Neill. That number will increase with new borrowings proposed by the Prime Minister, including the $1 billion sovereign bond issue. Families must repay O’Neill’s debt whether they like it or not. Repayment will require new domestic revenue-raising and cost-savings: Higher personal and corporate taxes as well as a 50% increase in the GST Increases in SOE fees and charges such as O’Neill’s secret rises for all MVIL services including registration and insurance A further decline in government services and outsourcing of service provision to the Prime Minister’s colleagues and cronies A fire sale of government assets and equity including SOEs such as PNG Power and Air Niugini to the Prime Minister’s colleagues and cronies Further cuts to essentia…