COME SEPTEMBER 1, Barbadians will have to face a new two per cent levy on all imports called the National Social Responsibility Levy.
And with this new levy, government will service the country’s high healthcare bill and allow the troubled Sanitation Services Authority (SSA) to fully restock its fleet.
Minister of Finance Chris Sinckler announced this new levy this evening during the Financial Statement and Budgetary Proposals.
Speaking in reference to the fact that 11 per cent of total government expenditure was used to service healthcare, Sinckler said “I now propose that effective September 1, 2016, there will be imposed a National Social Responsibility Levy to assist in offsetting the costs associated with financing public healthcare service provision in Barbados.”
“The levy will be applied at two percent on the customs value of all imports at the border with the exception of goods for the manufacturing, agriculture and tourism sectors as covered under existing primary legislation such as the Fiscal Incentives Act and the Tourism Development Act,” he added.
Sinckler explained that when totalled, the new levy would contribute an additional $142.1 million to the country’s annual revenue.
With this total revealed, he explained exactly what the money would be used for.
“Mr Speaker, it is the intention of the Government to place the resources garnered from this levy directly towards the financing of critical aspects of public healthcare in Barbados, particularly, but not limited to, provisioning at our main general hospital, the QEH,” Sinckler said.
“It is also our intention that part of the proceeds of this levy will go towards servicing of the loan which the Government of Barbados has agreed to borrow to provide the Sanitation Services Authority (SSA) with a fleet of new trucks in the coming months, and to procure much needed parts for the existing fleet. It is our intention to have that fleet back up to above 35 active trucks on any given day by this time next year,” he added. (AD)
