Wednesday, April 24, 2024

Bees’ $90m tax pack


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THE BARBADOS LABOUR PARTY (BLP) has pledged to jump-start the Barbados economy with a $90 million package of tax reductions and incentives aimed at middle- and lower-income households.
Leader Owen Arthur and his chief spokesman on economic affairs, Clyde Mascoll, on Wednesday night at two different political meetings gave a sneak peek of some of the specifics from the BLP’s yet to be launched manifesto.
“Help is coming, help is on the way,” a buoyant Mascoll assured cheering supporters at a mass meeting in Thorpes, St James.
Over in Back Ivy, St Michael, Arthur told St Michael East constituents about the removal of the tax on allowances, expansion of the reverse tax credit, restoration of the Social Investment Fund and annual injections of $10 million into a restored Poverty Eradication Fund.
Mascoll said the stimulus package, which was equivalent to one per cent of the island’s gross domestic product, would start by April 1, once the BLP won the election, and would continue in phases. (AGB/CLH)


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