GOVERNMENT EXPENDITURE of over $42 billion has been credited for the over 50 per cent decline in poverty since 1992, according to Dr. Jaslin Salmon, national coordinator for the Poverty Eradication Programme in the Office of the Prime Minister (OPM).
At the same time Robert Buddan, lecturer in the Department of Government at the University of the West Indies, has called for the establishment of a Ministry of Human Development to bring Jamaica's poverty to single-digit level.
Dr. Salmon made the call during a panel discussion entitled 'Fighting Poverty, the Past and the Future' which was hosted by the Cabinet Office at Jamaica House yesterday. The poverty level for 2004 stood at 16.9 per cent, declining by more than half from 35.2 per cent in 1992, Dr. Salmon pointed out, quoting from the Jamaica Survey of Living Conditions Report.
The OPM official argued that the phenomenal growth in the informal economy, the impact of activities in the National Poverty Eradication Programme (NPEP) and Government policy contributed to the significant decline in poverty.
GUIDING PRINCIPLES
He said the Government's poverty eradication programme was based on four guiding principles - the integration of agencies and projects, partnerships, community-based participation and sustainability through environmental protection and ownership by the community.
Dr. Salmon disclosed that between 1995 and 2000 Government spent over $15 billion on poverty alleviation programmes, a period which saw the most dramatic decline in the country's poverty level. He noted that $6 billion has been earmarked for this financial year, making it the single largest allocation for poverty allocation in any given year.
Mr. Buddan, who was speaking at the same forum said a Ministry of Human Development would address the need for better coordination or joined-up government in the fight against poverty. He said the ministry would not depend entirely on central government's budget but rather, would source social investments for its programmes.
He suggested that Government considers issuing a 20-year bond that would be repaid out of growth. He cited three potential markets that could fund investments in social and economic development namely, the diaspora market, the credit union market and the mainstream Jamaica capital market.
Mr. Buddan said that the Jamaican
diaspora was the largest and wealthiest in the English-speaking Caribbean and is valued at over US$40 billion.
Government's $42 billion allocation to the NPEP:
1995-2000 $15.4b
2001 $4.8b
2002 $4.9b
2003 $4.8b
2004 $5.8b
2005 $6.0b
