Prime Minister Gaston Browne has raised serious concerns about a United Progressive Party (UPP) proposal to use Social Security funds to establish a public loan programme, calling the plan financially risky and at odds with the opposition's own past positions.
According to Antigua News Room, Browne made the remarks during an appearance on Pointe FM, where he questioned the financial viability of several promises being made by the opposition ahead of the April 30 general election.
"My understanding… is that they say they want to do a loan fund with Social Security monies," Browne said, characterising the proposal as part of a broader pattern of "promising things that are not doable."
The prime minister also pointed to what he described as a contradiction in the UPP's position. He noted that the opposition had previously objected when the government transferred the Jolly Beach property to Social Security — a move Browne said was intended to strengthen the institution's asset base. He argued that the opposition's current proposal would do the opposite, by drawing funds down rather than building them up.
"The irony about that is that when we chose to transfer… the Jolly Beach property… to Social Security… they had a problem with that," Browne said.
Browne further cautioned against government-backed lending by citing a past housing initiative at Painters, which he said resulted in substantial financial losses due to borrowers failing to repay.
"They lost tens of millions of dollars," he said. "Part of the problem… is that people just believe that they don't have to pay back because the government money is free."
The exchange reflects the increasingly pointed debate over economic policy and public finances as the two major parties compete for voter support ahead of the upcoming general election, with Social Security emerging as a key flashpoint on the campaign trail.
