Barbados’ accountants want the Government to cut expenditure on university education and public transport.
Free education up to university level and subsidized public transportation – including free bus rides for schoolchildren and the elderly – have become important planks of the island’s vaunted social policy, but the accountants said cuts in these areas had to be made in order to further reduce the fiscal deficit.
The Institute of Chartered Accountants of Barbados (ICAB), led by new president David Simpson, submitted the recommendations to Government last month in preparation for next week’s Budget.
Government has already cut the fiscal deficit from 8.8 per cent in the 2010/2011 financial year to 4.5 per cent in April, but ICAB suggested to the Freundel Stuart administration that it make further expenditure cuts.
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