Barbados-Economy-Opposition Blasts Govt’s First Budget

 

BRIDGETOWN, Barbados, CMC – The opposition Barbados Labor Party (BLP) last Tuesday slammed the Government’s first budget, branding it the "quickest and coldest betrayal" of the Barbadian people in the history of the country.

In response to Prime Minister David Thompson’s presentation, Opposition Leader Mia Mottley charged that rather than easing the cost of living burden of Barbadians, the budget only served to make their load heavier.

Prime Minister Thompson on Monday delivered a wide-ranging budget in which he announced measures to deliver relief to the poor while increasing taxes on high income earners.

But Mottley said the Government which came to power in January with a pledge to address the cost of living, had delivered the "single biggest tax increase in the history of this country".

"These tax hikes will by themselves contribute to the highest inflation in this country’s history … but the truth is that Barbadians didn’t have any way of knowing that what he really meant, was increasing the cost of living.

"In fact, Mister Speaker, it really represents the quickest and coldest betrayal of the Barbadian people in our electoral history," she told parliament.

She challenged the Government to "walk the walk and not simply talk the talk".

"There is nothing wrong with the Barbados economy that strong economic leadership cannot fix. But it will not be fixed by indecision; it will not be fixed by policy summersaults; it will not be fixed by political gimmickry; or by repeated lamentations of global economic crisis; and it certainly will not be fixed by economic policy surrender at home as was witnessed (Monday)," she added.

Mottley described as "callous" the Government’s plan to yield BDS$104 million (US$52 million) in taxes from several quarters, including transportation fees.

She said the approach was "uncalled for in these difficult times" and stressed that it was nothing more than "highway robbery".

"When you raise the road taxes, the licences, every aspect of highway and transportation cost in this country…those people are in fact in a position where they are taking a larger amount of their salary to now have to pay these increases," she said. "Those increases will hit the poor man worst". The Opposition Leader also pointed out several "critical omissions" from the budget, including the contentious Economic Partnership Agreement (EPA) between CARIFORUM (CARICOM and Dominican Republic) and Europe, and its impact on Barbadian businesses. She also slammed the Prime Minister for not dealing with the CARICOM Single Market and Economy (CSME) and the global phenomenon of climate change which she said would have an impact on the country’s green economy.

 

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