The Barbados economy will hit “rock bottom” by the end of March next year if Government imposes new taxes in an effort to close the deficit.
The Barbados Labour Party (BLP) issued this warning yesterday during a media briefing at the office of the Leader of the Opposition in the West Wing of Parliament.
“There’s only one way out of this predicament and that is to try and inspire growth in the Barbados economy, and if the Minister of Finance intends to tax Barbadians even more, I’m telling you that the Barbados economy will reach rock bottom by the end of this fiscal year,” said the BLP’s adviser on economic affairs, Dr Clyde Mascoll, yesterday.
“So additional taxation will have severe negative implications for Barbados.”
The BLP called the media briefing with Mascoll and Opposition Leader Mia Mottley against the backdrop of a review of the third quarter of the economy by Central Bank Governor Dr DeLisle Worrell and Minister of Finance Chris Sinckler’s news conference on Monday.
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