THE CESS imposed on fuels a few years ago will continue for at least one more year – and “a significant” part of the money collected will go to the Queen Elizabeth Hospital (QEH).
This, said Minister of Finance Chris Sinckler, would be used by the hospital to “pay down and eventually liquidate any prior year liabilities on its books for goods and services provided and any statutory obligations owing”.
“From 2006 to 2008,” he told the House of Assembly during the annual Budget presentation yesterday, “the last administration, against better advice, took a decision to subsidise fuel costs to the consumer in Barbados by making Barbados National Oil Company book the costs of losses on the difference between the landed price of fuel and the selling price to distributors.
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