SPALDINGS, Clarendon: OPPOSITION SPOKES-MAN on Finance and Deputy Leader of the Jamaica Labour Party, Audley Shaw, has lambasted Minister of Finance Dr. Omar Davies, saying he was not telling the nation the real truth about the inflation rate in Jamaica.

Addressing thousands of green-clad, bell-ringing, whistle-blowing Labourites inside a packed Mandeville Bus Park at the final public meeting in Manchester before the Local Government elections, Tuesday night, Mr. Shaw accused the Finance Minister of lying to the people of Jamaica.

"I say to Omar Davies tonight, stop telling lies to the people of Jamaica. We don't believe you, because we are living the real life out here. When we go to the supermarket, we are experiencing the real situation."

Mr. Shaw told the huge crowd, which could be compared with any of those during the campaign leading up to last October's general election, that arguments by Dr. Davies that the rate of inflation had only increased by six per cent were false.

He pointed out that contrary to the minister's argument, basic food items have been increased by between 35 and 50 per cent.

INDISCRETION AND PRICE HIKES

Mr. Shaw stated that the increase in prices on food items, as well as other things, was due mainly to Dr. Davies' own admitted indiscretion in order to win the fourth term.

"In order to win the fourth term for the PNP, they made reckless and careless decisions that cause the country pain today and has caused the government to increase taxes on all of us," said the Opposition Finance spokesman.

Mr. Shaw also blamed the increase in prices on the continued slide in the Jamaican dollar and hinted that the dollar will never be stable under the present PNP administration.

He noted that talks by members of the government that the dollar has now been stabilised was a lie and that such arguments were simply just being used as an election ploy.

Mr. Shaw predicted that following the Local Government elections, the Jamaican dollar would continue its slide heaping even more price increases on the Jamaican consumers.

"After this election, the dollar is going to take off like a Concorde, leaving the Norman Manley Airport.

"The reason why the dollar is going to take off is because the only way that you can stabilise it, is to attract investments into Jamaica to earn foreign exchange. If that is done, then you will be able to stabilise the dollar," Shaw said.

He said continued borrowings by government, which causes an increase in taxes to be forced on the people of Jamaica, could not be used as any means of bringing stability to the rate of the dollar.

REDUCED RATES, MORE INVESTMENTS

He further stated that the only way the government would be able to attract investments into the island was if there was a reduction in the rate of interest being charged on loans, and according to him, there was no sign that this would be a reality in the near future because under the watch of the current Governor of the Bank of Jamaica and the Minister of Finance, interest rates continue to show huge increases.

Mr. Shaw also chided the minister of Finance for allowing the Students Loan Bureau to increase the rate of interest charged on loans acquired for furthering their education some years ago.

He noted that he has evidence that persons who have received loans from the Bureau from as far back as 1996 have been served with letters informing them that their monthly payments have been increased by more than 50 per cent, placing more burden on their ability to repay and such a move is a depressive one.

Mr. Shaw attributed such moves by the government to bad management, corruption and waste in public expenditure.

The Opposition spokesman also accused the government of using public funds to pay for advertisements in the newspaper to promote Local

Government on the behalf of the Peoples National Party.

"So I say to Portia, tell me if this is fair. I say come Portia, ah going to draw your tongue tonight. You tell me if this is fair. And Portia and Prime Minister Patterson you tell me, if in the middle of an election campaign, you should be using taxpayer's money to talk about Local Government. To put a five minute commercial on television and in newspapers to

advertise the Ministry of Local Government. It cannot be fair, it cannot be right. You are using taxpayer's money to campaign for the People's National Party. Do you have no shame?"

He also accused Prime Minister Patterson of deliberately allowing the elections to come without him

(Patterson) disclosing the contents of the report on the number of consultants employed to the government, how many are former Members of Parliament, how many

are former ministers of government and how much pay they are receiving.

He said he has been reliably informed that the Prime Minister has the final report, which he received from

Cabinet Secretary, Dr. Carlton Davies, several weeks ago but he has refused to make it public.

Mr. Shaw stated that the Prime Minister was refusing to make the contents of the report public, because it was not looking good, stating that it was showing waste, extravagance and corruption in the extreme.