It’s fiscal desperation, BREA says of Budget

The non-governmental organization that promotes the use of renewable energy here is describing the steep rise in the National Social Responsibility Levy (NSRL) as “a significant exercise of fiscal desperation”.

In addition, the Barbados Renewable Energy Association (BREA) said the jump to ten per cent from two per cent when the levy was introduced last year, along with the introduction of a two per cent tax on foreign exchange transactions, was an indication that the Freundel Stuart administration was not treating the sector with any degree of urgency.

“What we are saying is there is a lack of urgency in trying to propel this sector forward. We have been quite supportive of the Government’s efforts. Given the crisis that we face and the fact that this sector is being heralded as one of the potential saviours of the economy, the general approach of malaise is noteworthy,”  BREA President Aidan Rogers, told journalists today at a news conference at the association’s headquarters at the Central Bank building in The City.

Rogers said while most businesses in the sector had absorbed the two per cent levy imposed last year, the increase was a bit too much for the companies, and some might be forced to shut down and retrench workers.

He also complained that for the year so far, there had been no more than two meetings of the advisory committee which approves new applications for photovoltaic panels or small scale wind systems in the island, even as he joined other executives in the renewable energy sector in emphasizing that companies would suffer a fall-off in sales because of the taxes.

3 Responses to It’s fiscal desperation, BREA says of Budget

  1. Sharon Taylor
    Sharon Taylor June 13, 2017 at 12:29 am

    Absorb wa 2% levy? D consumer does pay that in a smart way…. Wunna feel it is only taxes that killing we? Price gouging too! Chris is an idiot… But all of wunna that speaking out really think that all Bajans petty and vindictive… So wunna trying to stir up all of us! Our backs will bend, we will feel the pain, but we shall rise again… I love my Bajan ppl… I know we will survive this……

  2. Greengiant June 13, 2017 at 12:35 pm

    Any sector who believe they have a strong case for relief because they services, or imported products are essentials needed by the poor people in Barbados should all now be writing the Minister of Finance for such relief. It’s as simple as that, not coming in this forum venting. Too many business people venting when they know what’s required of them.

  3. Helicopter(8P June 13, 2017 at 1:31 pm

    With that 2% levy increase it would be beneficial if sub divisions terraces and villages in-cooperate with the business of green energy especially speaking of Wind energy production! Find location within your neighborhood and with so doing have a list of participant property owners and dwellers form an energy in-cooperate registration under subscribed names and postal address. Having done this it would be as the old days when folks bought utility poles and even in some cases in rural districts paid extras to have the community furnished with electric utility poles which also gave them access to having telephone lines in some cases.


Leave a Reply

Your email address will not be published. Required fields are marked *