Nomane: Ling-Stuckey needs to discuss real economic issues.

 MEMBER for Chuave and Deputy Opposition Leader, Hon. James Nomane (pictured), says Treasurer Ian Ling-Stuckey needs to discuss real economic issues facing the country, rather than waffling on about his mastery in borrowing.  

Nomane, who is also the Shadow Minister for Treasury, Finance, Economy and Rural Development, reminded the Treasurer to stop deflecting and talk about issues affecting daily lives of the people.

 

“Ling-Stuckey accused the opposition of lying about the economy and went on waffling on about his mastery in borrowing trying to make a big issue about the difference between “flow” and “stock”, albeit superfluous, as an inference to his economic wizardry,” he said. 

Mr Nomane said without playing the blame game or being esoteric, the Treasurer needs to tell the country how he will reduce the inflation.

“What is the Treasurer going to do about the cost-of-living crisis caused by inflation and this persistent rise in prices affecting every Papua New Guinean,” he asked.

 

“Where are the jobs that should be an automatic by-product of the purported economic growth that Ling-Stuckey claims, and how many degree holders are gainfully employed.

“As I told the Treasurer on the floor of Parliament, this purported GDP growth without any positive gains to employment contradicts Okun’s Law.”

Nomane also directed Treasurer Ling-Stuckey not to meddling with the Central Bank and allow the bank to operate independently.  

“The Treasurer needs to stop meddling with the Central Bank and allow the Central Bank to be independent so they can effectively regulate interest rates and the money supply.

“We need the Central Bank to be focused on reducing inflation without the Treasurer interfering with the Governor of the Central Bank.” 

He said the Treasurer needs to immediately respond to these pertaining questions and stop making rebuttal videos to claim that the Opposition is peddling dangerous ideas. 

“When I said austerity measures would work to reduce inflation, it was fact,” the Deputy Opposition Leader said. 

“Our diagnosis has revealed that all the borrowing under Marape have been pumped into the “Connect PNG” program and Vote 207 at Treasury as miscellaneous for discretionary spending. 

“This nonsense needs to stop as there was no world-class hospital or school being built since 2019.

“Through austerity measures, we can cut spending and taxes and stop the money grab. 

“Ling-Stuckey must stop trying to compare the PNG economy to Australia, UK or USA. 

“Did he not get schooled when Governor Bird gave him the Tinned-Fish and Snax biscuit on the floor of Parliament?

 

“Stop deflecting and talk about issues that matter to the people of Papua New Guinea.”