‘Passing grade’: Panel okays Budget, presses for stronger execution

A high-level panel of government and private-sector representatives has given the administration’s 2026 budget proposals cautious approval, describing them as promising but urging more focus on timely execution, transparency, and accountability.  

The panel of Minister of Economic Affairs and Planning Marsha Caddle; President of the Barbados Private Sector Association, James Clarke; Chief Executive Officer of the Institute of Chartered Accountants of Barbados, Lisa Padmore; and East Caribbean Tax Engagement Leader with PricewaterhouseCoopers (PwC), Sophia Weekes, agreed that all stakeholders need to collaborate to ensure the measures are implemented efficiently and on time.  

In wrap-up remarks at the forum, held on Wednesday at the Hilton Barbados Resort, Clarke said the proposals in the budget are such that all stakeholders should take advantage of them.  

“There are many initiatives here. I think we need to understand how we can take advantage of them as soon as possible. I also think we all need to have a relentless focus on efficiency, productivity,” he suggested.  

Minister Caddle saw the panel discussion as the beginning of fresh collaborative consultations with the private sector, not only in executing the budgetary proposals but also in growing the economy more generally.  

She said: “I am anxious to work again with many of you in the room on this competitive and productivity issue. I think that solutions are in this room. We now have again this competitiveness committee, and it’s just a question now of confronting the challenges, as we have done this morning, and executing.  

“So, between the competitiveness committee and the new unit, I am confident that we can get that done.”  

PwC leader Weekes also echoed earlier sentiments on the need to work together.  

“We certainly face grave challenges as a country. In order to see the success that we require, I think that all organisations, normal Barbadians, everybody, we need to work together to ensure that we meet the targets that we set. 

“And I would also like to say that we need to ensure that we implement quickly, and that there are clear guidelines of how any business can access the various concessions, and there need to be clear guidelines.” 

Padmore said accountability was key in executing the proposals, especially given the expected increase in public spending.  

She contended that setting mission marks was also crucial.  

“We feel that mission boards and its mandate around transformation is one that can utilise oversight, especially in implementing some of these things, especially as it relates to value spending,” Padmore insisted.