The People’s Party for Democracy and Development (PPDD) is predicting tough economic times ahead for Barbados.
At a press conference on Saturday, Bruce Hennis, the party’s spokesman on the economy, said Barbados is in a very fragile position and many of the improvements which have been made came at a cost.
“There were cutbacks in the Transport Board and cutbacks across most state-run entities. . . It’s will be] a pretty ride for the next year-and-a-half at least. It will be a very challenging road for most Barbadians,” Hennis said.
He also foresees challenges going forward including reforms to civil service.
“In essence it does not look pretty,” Hennis said.
“In addition to tax issues, layoffs are also going to be a major concern because the June report by the IMF said that staff reductions at key state-owned enterprises will have to be ongoing.”
Meantime, another PPDD member, Scott Weatherhead, said the adjustments still to come through the Barbados Economic Recovery and Transformation (BERT) programme, will significantly and negatively impact Barbadians.
“Don’t be misled when you hear the paradings from the Minister of Finance about reduced income taxes. Don’t start to feel good about that because reduced income tax means more taxes are coming somewhere else. Because Government just can’t reduce income tax and let it be a free for all,” he said. (MR)