IN MY OPINION, former Prime Minister Owen Arthur’s greatest contribution to Barbados was to significantly lower personal and corporate tax rates to historically low levels, for which the Treasury realised historically high levels of revenues.
For demonstrating to all future administrations the direction of responsible taxation policies that benefited Government revenues, individuals and businesses, Mr Arthur’s knighthood is long overdue.
The current administration was desperate to raise additional revenues when they returned to Government in 2008. They were also aware of the taxation successes and irresponsible debt accumulation of the previous administration.
Why they rejected the most responsible, and embraced the most irresponsible policies of the previous administration is very confusing. They must be aware that continuing on their current path will inevitably result in the rest of us citizens having to endure the rigid policies of the International Monetary Fund.
Before we are completely out of options, the time has come to insist that the current administration seek better advice.
– GRENVILLE PHILLIPS II