Promise of tax break for Barbadians
If the Barbados economy is to be kick started, then policies have to be implemented that put money in people’s pockets.
That’s according to former Prime Minister Owen Arthur, who told supporters of his party yesterday: “We seek office again to bring back a similar proactive, can-do spirit to the management of our economic affairs.
“We fundamentally believe that the Government must go as far as possible, as fast as possible to stimulate domestic economic activity in Barbados as part of the effort to put Barbados back on a path of growth and development.
“To get this economy going again, we have to put more money in people’s pockets. For this reason, we support the introduction of a new middle income tax rate to allow those earning $100,000 or less, and liable to tax, to pay at no higher rate than 25 per cent.
“In addition, the payment of land tax based on the new higher valuations of properties is proving to be a drain on the pockets of too many households.
“We therefore propose that persons owning homes valued at more than $150,000 should have to pay the land tax not on the full value above that level, but only on 50 per cent of that improved value.”
The economist also said it was also urgent that the energy pricing and taxation policies pursued by this DLP Government “which have raped the private sector and every household in Barbados”, be reversed as a matter of urgency.
He added: “In the course of the coming campaign we will constructively engage the public on the major new initiatives we will introduce to rescue and stimulate our productive sectors, address the issue of food security, transform the financial industry of Barbados, rehabilitate the Scotland District, revitalise the North and our major urban areas, and revitalise our housing and construction industries.
“We will address the need for the urgent implementation of the policies for the green economy and for the development of alternative energy as set out in my budget in 2007 and for which Liz Thompson won an International Award.” (RRM)