MINISTER OF FINANCE Chris Sinckler yesterday gave a spirited defence of Government’s efforts to transform the Barbados economy.
Speaking during debate on the amendment to the income tax legislation, he agreed with some of the points outlined by former Prime Minister Owen Arthur during his presentation, especially as it related to the need to relook the country’s development model. The finance minister said this was evident to Government, which has started the process.
He noted that a number of preferences the country once enjoyed have come to an end. The World Trade Organisation has also brought about a number of changes as well as bilateral arrangements which have all changed the playing field. These points, Sinckler said, had been highlighted on a number of occasions previously, including during his Budgetary Proposals and the Estimates debates.
The finance minister said that Barbadians wanted a range of social services free at the point of delivery, yet their expectation was that there be a low tax or no tax regime, but yet there be the provision of services. In such circumstances he said there must be problems.
“Radical surgery is required if we are going to sustain the quality of life we enjoy,” Sinckler said. (ES)
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