Minister of Finance Audley Shaw

Audley Shaw, as he opened the 2008/2009 Budget debate on Thursday:

Agriculture

"The capital allocation (A & B) for agriculture has increased by $1.3 billion from $2.3 billion last year to $3.7 billion, representing a 56 per cent increase, and signalling this Govern-ment's commitment to reviving the agricultural sector. Large allocations are made for revitalisation of the dairy subsector, grant for rural development, national irrigation development project and sugar transformation project.

Food Security

Mr Speaker, the allocations reflect this Government's commitment to the development of our rural farming communities and to the need to produce more for local consumption as well as for export and sale to the tourist trade.

But Mr Speaker, allocations are not sufficient to ease the tremendous burden on the poor brought on by imported inflation. This must be mitigated not just by subsidies, but targeted subsidies and more importantly, by putting in place a programme for food security by significantly expanding domestic agriculture. This must now form a major part of our strategy to fight inflation. We must grow more and eat more of what we grow.

New technologies like greenhouse and hydroponics technology will help to drive reform in agricultural productivity.