DO NOT TOUCH the National Insurance Scheme (NIS) funds!
On a panel that dissected the 2012/2013 Budget presentation last night, economist Clyde Mascoll, the Institute of Chartered Accountants of Barbados’ David Simpson and president of the Barbados Economic Society, Ryan Straughn, had issues with the use of the surplus of the NIS and went against the views of Senator Haynesley Benn who cautioned them to see the NIS abundance of funds as an investment.
With moderator Matthew Farley trying to cool tempers, the other points in the Financial Statement and Budgetary Proposals were barely brushed as the NIS took centre stage.
At the start of the discussion Benn saw the Budget as a “balanced, responsible one by a responsible Government”. He said it sought to protect jobs and businesses, and that Minister of Finance Chris Sinckler who presented it was concerned not with “short-term popularity gains” but with the growth of the economy. (NSH)
PICTURED: In discussion following the presentation of the Budget last night are (from left): Barbados Labour Party spokesman, economist Clyde Mascoll, David Simpson of the Institute of Chartered Accountants of Barbados, Minister of Commerce and Trade Haynesley Benn, president of the Barbados Economic Society, Ryan Straughn, and moderator Matthew Farley. (Picture by Rawle Culbard.)
