GOVERNMENT’S more than $400 million fix for CLICO and British American Insurance Company (BAICO) is selling Barbadian tax payers short.
While supporting in principle the help for the “tens of thousands of Barbadians” who would benefit, Leader of the Opposition Mia Mottley told the House of Assembly authorities should have pursued a wider forensic audit in the sister companies to ensure more financial resources were recouped.
By not doing so, the St Michael North East MP said, the CLICO/BAICO solutions pursued by Government would increase Barbados’ debt and affect allocations to other important areas including health care and garbage collection.
Mottley was speaking during debate on the British American Insurance Company (Barbados) Ltd. (Preservation of Investments) Act.
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