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NSRL backlash

NSRL backlash

With the controversial National Social Responsibility Levy (NSRL) due to take effect here Saturday, three of this island’s leading trade unions are again warning that the measure is of the sort that it could trigger a showdown of national proportions. It was the second such warning in a week by top officials of the Barbados […]

FULL TEXT of the latest IMF Barbados review (released today)

FULL TEXT of the latest IMF Barbados review  (released today)

The International Monetary Fund (IMF) said today it was ready and willing to come to Barbados’ rescue, while warning that slower growth and a doubling of the domestic cost of living were on the immediate horizon as a result of the austerity measures announced by Minister of Finance Chris Sinckler in his May 30 Budget. […]

Gov’t delays implementation of foreign exchange levy

Gov’t delays implementation of foreign exchange levy

There has been a slight delay to Government’s implementation of the controversial two per cent levy on foreign exchange transactions. Last month, Minister of Finance Chris Sinckler announced that the tax would take effect here from July 1 as part of a package of austerity measures. However, in a statement Wednesday, the Central Bank said […]

Way out!

Way out!

Barbados is among countries in the region that appear to be stuck in a “middle income trap”. And to get out of it, Dean of the Faculty of Social Sciences at the University of the West Indies Cave Hill Campus Dr Justin Robinson suggests that businesses need to take the lead in innovation. “Generally, when […]

Blame yourself, Sinckler tells the private sector

Blame yourself, Sinckler tells the private sector

Minister of Finance Chris Sinckler is essentially telling the private sector to blame itself for any confusion it had about how his recent budgetary measures – including the contentious National Social Responsibility Levy (NSRL) and two per cent tax on foreign exchange – would be implemented. Following his announcement of the belt-tightening measures at the […]

Job cuts looming due to new taxes, says Bryan

Job cuts looming due to new taxes, says Bryan

One of the popular Bridgetown retailers is warning Barbadians to brace for price rises of no less than ten to 12 per cent once Government’s recently announced tax measures take effect. Managing Director of Woolworth Martin Bryan said despite assurances from Minister of Finance Chris Sinckler that the “prohibitive” rise in the National Social Responsibility […]

Too many Govt entities boxing in the dark

Too many Govt entities boxing in the dark

It is responsible for the promotion and regulation of the sport of boxing in Barbados. But according to the Auditor General Leigh Trotman, the Barbados Boxing Board of Control has literally been boxing in the dark for the past 20 years – at least when it comes to its financial reporting. Even though the board […]

Budget passed; House approves controversial levy

Budget passed; House approves controversial levy

  Parliament in the wee hours of Friday morning approved the controversial National Social Responsibility Act after Minister of Finance Chris Sinckler put up a strident defence of the onerous tax on imported and locally produced goods, which is covered by the legislation and is due to be increased from two to ten per cent, effective […]

Budget lacks useful measures – UPP leader

Budget lacks useful measures – UPP leader

Political leader of the fledgling United Progressive Party (UPP) Lynette Eastmond has described the 2017 Budget as one void of measures to attain the economic growth the country so desperately needs. In fact, she argued that apart from increasing Barbados’ tax burden, the proposals offered by Minister of Finance Chris Sinckler Tuesday present nothing else. “He […]