Government’s newest cash cow may result in a not-so-merry Christmas for some Barbadians.
President of the Barbados Chamber of Commerce and Industry (BCCI) Eddy Abed said that while Government may be earning big bucks due to the 400 per cent hike of the National Social Responsibility Levy (NSRL), businesses battling with increased operation costs had already began to lay off employees, with others set to follow in the coming months.
On Tuesday while speaking in Parliament, Minister of Finance Chris Sinckler revealed that the controversial NSRL had so far raised just under $50 million since being implemented on July 1.
He said this meant the levy was on track to bring in close to $200 million within four quarters, bringing it in line with projections. (RB)
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