Maloney wants greater fiscal incentives

Already facing Opposition criticism for the number of capital projects it had been securing from Government, local construction firm Preconco is now asking for greater fiscal incentives from the Freundel Stuart administration.

Although the company’s Managing Director Mark Maloney declined to be drawn into discussion on the matter, confirmation of the request has emerged in the February 9, 2017 edition of the Official Gazette which was delivered to Barbados TODAY only Friday morning.

While the carefully worded public notice does not identify Maloney by name, nor does it state specifically who had requested the fiscal incentives, the Government publication stated that the Minister of Industry, International Business, Commerce and Small Business Development “is about to be asked to consider whether for the purpose of the [Fiscal Incentives Act, 1974]”, piles and portaframe buildings should be approved “and whether the following company [Preconco] should be an approved enterprise in respect of the relevant product”.

Business people interested in manufacturing the piles and portaframe buildings and who did not want the products or Preconto to be given clearance to receive the concessions were given an opportunity to try to block it, according to the notice in the Official Gazette.

However, they would have had to record their objection in writing through the Permanent Secretary in the ministry by February 23, 2017, with a copy sent to the Chief Executive Officer of the Barbados Investment and Development Corporation.

Efforts to reach Minister of Industry Donville Inniss proved futile. 

21 Responses to Maloney wants greater fiscal incentives

  1. James Austin Bynoe
    James Austin Bynoe March 11, 2017 at 3:12 am

    You really think everyone in barbados is stupid :::: and you might be right

  2. Vernon Harris
    Vernon Harris March 11, 2017 at 5:03 am

    Why must you get everything? Don’t you think the people of Barbados deserves some incentives too?

    • Kirt Jordan
      Kirt Jordan March 11, 2017 at 8:12 am

      The fatted calf is now a skeleton because of ppl like him

      • Allan Wilkie March 11, 2017 at 8:45 am

        We are all now asked to swallow bitter medicine after the tax payers have already been prescribed bitter medicine, so that an ELITE few could prosper. The exact reason Barbados finds itself where we are today….

  3. Michelle Griffith
    Michelle Griffith March 11, 2017 at 6:10 am

    This is the man running things in Barbados.

  4. Peter March 11, 2017 at 10:09 am

    Don’t hold your breath Barbadians, Mark Maloney will get ALL he wants from DEM. He is an undercover politician calling all the shots. He and the Chinese.

  5. Frank White March 11, 2017 at 1:55 pm

    This is what happens when politicians give the tax payers money to these so called white boys. They mass a huge amount of wealth and thus becomes economically powerful where they can come in the public domain with their utterances and make demands. They threaten to send home workers if these demands are not met. They operate using the 1,2,3 scale which problem reaction solution which is the Hegelian principle. Each time these politicians see to it that these so called white boys are given millions of dollars of the tax payers money, it’s slavery all over again as we, the black community, is working to see that the white community lives.

    • Jennifer March 11, 2017 at 3:52 pm

      This is what happens when a mass of people come out of slavery and was given no WEALTH. Why should THEY not get incentives???? they own all the WEALTH and pay back little to nothing. Who hold the reigns will often command the donkey’s path. While they SET UP a political system with pawn politicians that they control. Then you have the black masses in 93% majority only spending and looking for a bone from under that big table and marching and shouting BDBDBDBD and bull$hit. What a comatose set of nuts.

    • Jennifer March 11, 2017 at 4:00 pm

      @Frank White – Well said. We need to see this as a relay race the money baton is passed from father to Son/children, getting bigger by the lap. Mind you the black man is still at the start not even completing a lap, being bog down with women who are intent on keeping THEIR holidays which are further money burners and burdens. This is why it is pointless to even vote as they are in control. Then they throw those toys out of the pram when they do not get their incentives/way. Mind you they will usually CREATE the PROBLEMS to then give you the solutions to solve them. A house or a car is NOT WEALTH.

  6. Sherlock Holmes. March 11, 2017 at 2:51 pm

    It is a pity that no research has been done to really see if he is the only company getting all de so called work.

  7. Mikey March 11, 2017 at 3:49 pm

    @Frank White,,, and why do you all vote for these two parties over and over again and again ???
    Don’t you guys think that somebody else who feels sorry for the black population should get a chance to run Barbados now ???

  8. BIG SKY March 11, 2017 at 4:37 pm

    I don’t care if he white or black.Cement prices here were too high and this man did what others couldn’t do, by rivalling the monopoly company and causing builders to get some savings in their pockets.He have created jobs and have Barbadians working in this process.

  9. Peter March 11, 2017 at 5:08 pm

    Jennifer. if and when one believes in ones’ self they will become successful irrespective of their color. Every time you comment you tell the world that you hate yourself for being black then in the same breath, you consider blacks crabs in a barrel. You are a gruesome horrible failure. Get your act together and stop blaming whites and non blacks for your failure.

  10. G-Flash! March 11, 2017 at 5:28 pm

    Are there others willing to invest in this country at this time?

  11. Jennifer March 11, 2017 at 6:42 pm

    @Peter I call an s an s and a spade a spade. You are being hypocritical and condescending will never see what I am saying because you have shut your eyes and ears. You will never be able to shut me up on what your ancestors have done to my people. I am proud to be a melanated person not having to put on sun tan lotion to lie on these beautiful beaches. Go look up the effects on the body concerning melanin. Your disgusting people have never paid my people any reparations for their thieving exploitation and raping and robing but they will pay. You just wait and see.

    • Peter March 11, 2017 at 9:29 pm

      So that’s what you are after. MONEY. When blacks captured blacks and sold them into slavery, you Jennifer have nothing to say except that they’re crabs in a barrel. I am not white. I’m successful. You’re not and you’re so small minded and jealous Your stupidity shines brightly. All you do is write racial nonsensical trash.

      • Jennifer March 11, 2017 at 9:58 pm

        Peter – so why do you latch onto the trash. What does that make you???? a trash pursuer. Success!!!! I hope you got a bunker as you will need it. By the way I am so called successful and so much so have no need to work. Stop commenting to my trash. Any person who does not fight for his race is a coward and delinquent to reality.

  12. lime juice March 11, 2017 at 6:51 pm

    Who thee hell you think you is that you must every damm thing bout hey

  13. femi Sundiata March 12, 2017 at 7:44 am

    The biggest problem in Barbados is that they are too many house negroes.

  14. Ann Thomas March 12, 2017 at 4:31 pm

    Don’t you have enough or haven’t you gotten enough?

    The Villages at Coverley
    Bushy Park
    The Molasses Tanks in the Port
    Pier 5 at the Port
    Rock Hard Cement

    Please, give the rest of us a chance to get likkle someting too

  15. Greengiant March 19, 2017 at 11:08 am

    Let’s be realistic, Preconco is a major foreign exchange earner for this economy. They and the Jada Group has been reinventing the money earned right here in Barbados. I must add, the Williams group as well, while other companies who have benefited during the years of plenty have hardly reinvested any, that’s why there’s so much liquidity in the banks.

    So, if we remove the race card, the political undertones such as
    “fatted calf” and such, as used by our politicians to divide us. So pray tell me if multinational corporations can come here, invest foreign exchange and be given fiscal incentives why should Preconco limited not get similar benefits. We are getting carried away by the political cry with the amount of projects being awarded to them, however our small contractors continue to self destruct. The most recent being Island Projects who had over 15,000,000.00 in projects on books at the point of closing, leaving it’s employees, sub – contractors and other service providers in dept. So we can’t fault our professional consultants for not awarding major contracts to small companies. The confidence simply isn’t there. It’s time we give Mr. Maloney some credit and support for the many barbadian families benefitting from his courageous enterprises, the foreign direct investment these enterprises attract and his continued reinvestment in our country.

    I know I will get some negative responses for my opinion here on this issue, especially from individual party supporters and others with political agendas. If we differ it’s because our agendas are different. Mine while patriotic will never be political.


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