Category: Budget

Look out for the ‘real’ Budget by October, warns Inniss

The man seeking to take over the leadership of the Democratic Labour Party (DLP) following its humiliating 30-nil defeat in the May 24 general election is warning Barbadians that the worst is yet to come. Reacting to yesterday’s $1.2 billion austerity package presented by Prime Minister and Minister of Finance Mia Mottley, former Minister of […]

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Labour movement falls in line behind Budget

The umbrella trade union representative body here says the fiscal measures announced in the so-called mini Budget presented in the House of Assembly this morning by Prime Minister and Minister of Finance Mia Mottley will diminish the value of the just agreed salary increase for public workers. At the same time, President of the Congress […]

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PSV sector ‘not consulted’ on Budget

The privately-run public transport sector is complaining that it was not consulted by the Mia Mottley-led administration before the announcement of today’s budgetary measures, which a top official of the transport sector said will hit operators and owners hard. Interim Chairman of the Association of Public Transport Operators (APTO) Morris Lee said while Government officials […]

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Bitter pill

Prime Minister Mia Mottley today served up a dose of bitter medicine that will impact every single household and business here as her newly elected Barbados Labour Party (BLP) administration announced a $1.2 billion adjustment plan over the next three years to tackle the island’s economic woes head-on. In what was termed a mini-Budget presentation, […]

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BUDGET-HIGHLIGHTS-Fiscal measures at a glance

Following are the fiscal measures announced by Prime Minister Mia Mottley in today’s mini-Budget, amounting to a $1.2 billion adjustment. FISCAL MEASURES & IMPACT Effective July 1, 2018 the National Social Responsibility Levy (NSRL) will be repealed. The Fair Trading Commission will be asked to monitor developments to ensure that retailers reduce their prices appropriately; […]

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BUDGET-Mottley announces increased pay for pensioners

As promised in the Barbados Labour Party’s manifesto for the May 24 general elections,  the two-week-old Mia Mottley-led administration will raise the minimum non-contributory pension from $155 to $225 per week. “Protection of our pensioners will cost approximately $18 million,” said Prime Minister Mia Mottley in making the announcement in Parliament a short while ago […]

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S&P downgrades Barbados

Barbados has suffered another credit downgrade. This time by Standard & Poor’s (S&P) which has lowered the island’s long-term foreign currency rating to “selective default” following the June 1 announcement by Prime Minister Mia Mottley that her week-old administration was suspending foreign debt service payments and seeking to make interest payments on its domestic debt […]

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