Sunday, March 3, 2024

Lowe warns against big job cuts

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President of the Barbados Economic Society (BES) Shane Lowe has warned that sparing thousands of jobs could come at an increased cost to taxpayers as Government looks to announce the next phase of restructuring in the next two weeks.

On Tuesday in the House of Assembly, Prime Minister Mia Mottley insisted that her Government will not be cutting thousands of jobs as suggested by former Governor of the Central Bank Dr DeLisle Worrell.

Speaking to THE NATION following Mottley’s address on state-owned entities at the 9th sitting of The House of Assembly, Lowe referred to the recommendations made in the last International Monetary Fund (IMF) Article 4 Report.

He explained that that report recommended the Government utilise a selection of expenditure cuts, divestment or investment of user fees.

And with state-owned entities accounting for 24 per cent of government expenditure, Lowe warned that instead of massive cuts, the coming restructuring could be a blend of those recommendations. (NATIONNEWS)

Please read the full story in the Midweek Nation, or in the eNATION edition.

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