. new foreign exchange growth strategies to reduce the fiscal deficit and national debt;
. reduction of the levels of transfers and subsidies;
. an extensive programme of tax reform including VAT, customs duties and trade taxes;
. a wages increase policy tied to productivity improvements and performance-based pay in consultation with trade unions; reduction of the operational costs of Government ministries, departments and statutory corporations by merging departments and entities that have similar remits or may be serving the same interests.
Government also plans to carry out value-for-money audits for the ten departments or programmes with the largest expenditure;
. upgrade Government procurement systems to improve efficiency and reduce costs;
. subject each ministry and department to a zero-based budgeting process once every five years;
. insist that all projects likely to cost over $5 million be subject to a complete capital investment plan and analysis before commencement.
Other plans include:
. Construction of two new secondary schools and reducing the roll of secondary schools to a more manageable figure of 800 to 850 students;
. additional campuses of the Barbados Community College and Samuel Jackman Prescod Polytechnic in the northern and eastern parshes,
. an income tax deduction of up to $5 000 on the interest on loans sourced from the Student’s Revolving Loan Fund,
. restructuring of the National Sports Council to allow it to implement a new National Sports Strategy that will focus on a “Team Barbados” Concept.