Rationalisation of government agencies have to take place at some future date.
Chief Executive Officer of Cave Shepherd & Co Ltd and Head of Barbados Private Sector Association, John Williams, repeated his call for the privatisation of some areas of Government operations where about 30,000 people are employed.
Williams repeated his call today while speaking at a Market Outlook Seminar sponsored by First Citizens Investment Services at the Hilton Barbados Resort. He sought a clarification of what Government was doing in relation to its debt and the deficit.
Williams noted that Government did not have the funds to generate economic activity and charged that manufacturing and agriculture remained in a depressed economic state.
The Head of the Private Sector Association noted that Government could realise economic investment in the Financial Services sector and Renewable Energy, and repeated his suggestion that rationalisation within the public sector must occur, but pointed out that no one was in a position to say when.
He complained that there had not been a reduction in the level of taxes, which acts as a disincentive to the development of business.
Meanwhile, General Manager of First Citizens Investment Services Group, Jason Julien, was very optimistic about Barbados’ return to prosperity.
He lauded the quality of the human resources being produced in the Barbadian economy.