Saturday 21 January 2017

Noel Nethersole

"Nethersole helped found the People's National Party (PNP) in 1938 and served as its vice-president from 1938 until his death in 1959. Norman Manley was president. During World War Two he was prominent in the Jamaican trade union movement, and made a reputation as a conciliator. He stood unsuccessfully for the PNP in the 1944 Jamaican national election, but succeeded at the next election in 1949 and entered parliament as a member of the opposition for the constituency of Central St Andrew. In the early 1950s he chaired the PNP committee whose determinations led to the expulsion of extreme leftist members of the party. He became the first president of the National Workers Union, which was a more moderate successor to the Trade Union Council. In the 1955 elections the PNP won office. As party deputy to Norman Manley, the new First Minister, Nethersole became Second Minister and took the post of Finance Minister. Nethersole was determined to modernise Jamaica's financial institutions to give the country economic independence, in preparation for its political independence, which came in 1962. He played an important part in ensuring that when Jamaica became the world's largest producer of bauxite in 1957, the proceeds helped in Jamaica's development. He spent two years on negotiations to raise a substantial loan on the New York City money market, he laid the foundations for a central bank, and founded the Development Finance Corporation." https://en.wikipedia.org/wiki/Noel_Newton_Nethersole

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