The Barbados Revenue Authority (BRA) today announced a change to the date for implementation of the new upper income tax band from July 1, 2018 to August 1, 2018.
“The introduction of a new upper income tax band of 40 per cent relates to those whose assessible incomes are greater than $75,001 which the Prime Minister and Minister of Finance, Economic Affairs and Investment Mia Mottley announced as part of her mini Budget on June 11,” BRA said in a brief press statement on the matter.
Oh fantastic, I have one more month to enjoy my salary ,before it is cut to help pay the country’s bills, bills which I didn’t incur or had nothing to do with(rolls eyes) Really mashing up middle income earners bout here.
So who exactly helps Barbados get back in order, and what was said about Bitter Medicine at many then Opposition meetings? Takeng as much as 3 years before recovery? Is it at the snap of a finger? Are you excluded from the assistance? Why is the phrase “Many hands make light work,” repeatedly mentioned??
The middle class of this country did not vote for less money to come into their hands. They voted for more.
What is the better scenario… A. You earn less money or B. the money that you earn is worthless?
This is where our collective roles are absolutely essential… There is absolutely no room for self-serving individuals in these most trying of times….
The IMF. Barbados be in the know.
As Barbados moves to possibly engage the International Monetary Fund (IMF) as a means of addressing the island’s economic situation, Barbadians should know the history of this organization and how it is presently impacting on other countries.
The IMF is intricately tied into a web of neoliberal policy makers and advisors, including top advisors to several dictatorships including Chile’s Pinochet—an infamous ruler who led the government of Chile from 1973 until 1990. During that time, he transformed a socialist economy into a neoliberal dream of open markets using a mix of government cuts and military force.
What pushed Pinochet to radically alter Chile was the influence of his economic advisors, who put the neoliberal philosophy of the IMF into practice. In the years to follow, the IMF would press neoliberal policies onto tens of countries, prying them open to global competition while shutting down as much of the states as it can in the quest to achieve ‘pure markets.’
Neoliberalism is a policy model of social studies and economics that transfers control of economic factors to the private sector from the public sector. It takes from the basic principles of neoclassical economics, suggesting that governments must limit subsidies, make reforms to tax laws in order to expand the tax base, reduce deficit spending, limit protectionism and open markets up to trade. It also seeks to abolish fixed exchange rates, back deregulation, permit private property and privatize businesses run by the state.
Nonetheless, the IMF recommended to Tunisia to cut its bread subsidies and cut the public sector again to meet a loan $2.9 billion loan condition sparked widespread demonstrations. In response, Tunisian riot police arrested hundreds and killed one.
In Sudan, bread prices doubled after the government removed subsidies for the good. Predictably, thousands to the streets, and hundreds were arrested, including journalists and activists. The government used lethal force, tortured many dissidents and even confiscated the papers of opposition news outlets.
However, “Since 2011, despite the fact that there is no evidence whatsoever that the policy recommendations of the international financial institutions actually work and lots of evidence that their failure was a significant factor motivating the uprisings, the IMF and World Bank are back at it again with only cosmetic rhetorical changes in their policy recommendations,” argued Dr. Joel Beinin, professor of Middle East history at Stanford University, in an interview.
The IMF’s strict adherence to neoliberal progneses has and will likely continue to necessitate strong-armed enforcements and a further evaporation of the middle and working classes in the Middle East and beyond.
IAM WONDERING HOW THE TALKS WITH THE GOVT. AND IMF WENT????
Carson it was your party, your people in power for 10 years who destroyed the economy and middle class of this country, and hurt the poor black man until they cried out on deaf uncaring ears for help. Your yard fowl Central Bank Governor was the one who kept printing the Barbados Currency at the urging of your finance minister . The currency is now valued at 11 to the US Dollar. $40.00 for a can of sardines is the alternative to the IMF. Dissapear, Hang your head in shame. Your party is not coming back In 5, 10 or 15 years . No one after going through all this pain will never forget.
“…. $40.00 for a can of sardines is the alternative to the IMF.””
You have it all wrong.
Its $40.00 for a can of sardines WITH the IMF. Tell me how much is a Sandwich loaf in Jamaica????? 288.64 J$ !!!!!
One liter of milk 263.91 J$!!!!
Jamaica has been in the clutches of the IMF for 40 years.
Collective roles hmmm when I go in the supermarket is only me I don’t see any collective. Yes the country is in a bad state but I am fed up paying my money to pay Barbados bills.
@BAJANGAL: I wid you on that. Taking more money to fulfill campaign promises, and the way to accomplish this is to set the cross-hairs directly on the middle-class.
“There is absolutely no room for self-serving individuals in these most trying of times….”……..Like politicians (Duguid especially)?
I wish you crybabies would stop crying on this website, unless you are willing to go on show like a certain lawyer before the camera and let it flow. This could be the start of your acting career.
The DLP austerity pain will soon prove to be not as bad as the BLP/IMF programme now being drafted amd coming after the 12th of this month. Don’t worry, we got this.
@Jerry:
Come again, rube!
Be original!
Be a creative minion of YOUR SUPREME LEADER, don’t just regurgitate platform platitudes and facts pulled out of your backside!
Come on, Man UP!
You know just as well as I that your GREAT LEADER has left the running of the country to the IMF. The Mini Budget edicts were culled straight from the IMF “How to Destroy Black Countries” playbook.
(Fuel hikes? IMF. Yay! They turned out to be a #1 hit in Haiti!)
Your GREAT SUPREME LEADER is too lofty to stay and personally oversee this ever so important development in Barbadian history (after all, the economy was SOOOOO BAAAAD that ONLY THE GREAT SUPREME LEADER COULD FIX IT)… it’s off to JAMAICA to sign accords that ensures the foreigners will vote for the GREAT SUPREME LEADER out of gratitude for the opportunity to come to Barbados to live free at the expense of indigenous Barbadians.
DON’T YOU JUST ABSOLUTELY LOVE OUR GREAT SUPREME LEADER!!!!!!!!!!
I wish barbados could take itself out of the financial debt it’s in because IMF is not good, no country that the IMF have provided any financial assist has or have recover actually in the end,, there become the owners of that country…If MIA can find other solutions it would be far more better than the IMF..We can only hope and pray that MIA ensure barbados remains in the ppl’s hands and not the rule of the IMF