THE SLASH in corporation tax from 30 per cent to between one per cent and 5.5 per cent should be used to invest in projects and generate new employment, rather than to increase salaries across the board.
This was asserted by Barbados Private Sector Association chairman Edward Clarke and Sagicor president and chief executive officer Dodridge Miller during a breakfast media briefing at Sagicor’s Wildey, St Michael headquarters yesterday.
This despite a recent appeal from a Government minister for the private sector to follow Government’s lead and pay workers more.
Clarke, who is also executive vice-president and general manager of Sagicor Life Inc.’s Barbados operations, said the business community would not feel the full benefits of Government’s large corporate tax cut before 2020, but was certain the measure would be “a confidence booster for investors”.
(SC/BW)
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