Opposition MP Major St. Clair Leacock has delivered a scathing critique of the Government’s plan to borrow nearly EC$100 million, just three months ahead of general elections. Speaking at a New Democratic Party (NDP) meeting in Richland Park in support of Marriaqua candidate Philip Jackson, Leacock said the move is politically motivated and financially irresponsible. He revealed that the Government will be seeking parliamentary approval this Thursday for EC$98,584,617 in new loans under the 2025 Supplementary Estimates.
“I’m going to let you in on a little secret tonight,” Leacock told the gathering. “Fitz Bramble is the one who let me in on it. This Government is coming to Parliament to ask us to support borrowing almost $100 million. You think we should support that? Three months before an election? We got to be crazy.”
According to the official Supplementary Estimates, the borrowing includes EC$44.7 million in local loans and EC$53.8 million in external loans. Of the external financing, EC$37.8 million will come from the Republic of China (Taiwan), and EC$16 million from the Caribbean Development Bank. Among the largest capital allocations are EC$41.7 million for housing development and reconstruction—of which EC$29.1 million is designated for a Housing Development Programme and EC$12.6 million for Home Reconstruction – Phase III—as well as EC$28.2 million for a National Road Rehabilitation Project under the Ministry of Transport, Works, Lands & Physical Planning.
Leacock claimed that EC$25
million of the loan is intended for the troubled port development project at Rose Place. While that figure was initially unconfirmed, documentation from the Ministry of Urban Development, Energy, Seaport and Grenadines Affairs shows that the project has indeed been allocated EC$25,611,145 in additional funding under the Supplementary Estimates. The port redevelopment appears twice in the Estimates under project number 601702—one allocation of EC$9,611,145 and another of EC$16 million—bringing the total to over EC$25 million in supplementary funds. Leacock referenced previous warnings about the port’s structural concerns, stating, “When we told them the port was sinking, they laughed at us. Daniel Cummings and Glenford Stewart raised those concerns long ago. They mocked them. Now, three months before elections, they want a loan to fix the same sinking port? That’s taking us for fools.”
Another line item attracting attention is a recurrent allocation of EC$3 million to the Ministry of Tourism and Civil Aviation under its Policy Planning and Administration unit. This sum is earmarked specifically for “Rental of Assets,” but the Estimates do not clarify what those assets are or why such a significant amount is required. The item appears as the first entry in the Schedule of the Supplementary Recurrent Estimates 2025.
Amid growing national attention on the hurricane recovery efforts following the devastation of Hurricane Beryl in July, Leacock addressed suggestions that the opposition is obstructing assistance to affected communities, particularly in the Grenadines. He argued that rushing such a significant borrowing package through Parliament on the eve of elections is unfair to the electorate and risks misuse of public funds. “If the people of the Grenadines could wait a year, they can wait two more months for an NDP Government to get the right things right,” he said. “We’re not against helping our people. But we must do it the right way. This isn’t just about fixing homes—it’s about fixing votes.”
Leacock concluded by urging Vincentians to scrutinize not just how much the Government wants to borrow, but why, and when. “This is not about national interest. It’s about political convenience. And we would be crazy to support that,” he said.