MINISTER OF FINANCE Chris Sinckler has lauded credit unions for their resilience and maturity in dealing with changes in Government’s fiscal policy that some predicted would lead to “the death” of the movement.
Instead, he said they moved from a position of strength to “further strength” following the removal of savings from income tax allowances and the subsequent imposition of an asset-based tax, both of which he felt badly about.
Delivering the feature address at the 50th anniversary dinner and awards ceremony of the BET Co-operative Credit Union Ltd at Hilton Barbados on Saturday night, he said many credit unions expanded the value of their asset base and deposits during the period, rather than collapsing. (WILLCOMM)
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