Wednesday, April 17, 2024

Budget day

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MINISTER OF FINANCE Chris Sinckler will deliver his fourth Budget in the House of Assembly this evening amidst much speculation and perhaps  some fear.
With a $400 million adjustment in the fiscal deficit on the cards, businessmen and laymen alike will be focused on the 4 p.m. presentation which should also include strategies for putting the economy on a sustainable growth path.
With Barbadians already heavily taxed and Sinckler having ruled out an increase in value added tax (VAT), much of the adjustment is likely to come from spending cuts.
Wages and subsidies and transfers account for a major chunk of the state’s expenditure but given that Government has continuously reassured Barbadians that public sector layoffs would be a last resort, there have been suggestions that Sinckler will announce voluntary wage cuts or shorter work hours.

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