Nation e-Edition

BES doubt

BES doubt BES president Ryan Straughn

By GERALYN EDWARD Business Editor | Tue, October 30, 2012 - 12:10 AM

The Barbados Economics Society (BES) says the Opposition’s tax concessions announced over the weekend “will just create a mess” in the economy and widen the deficit unless it plans to get rid of several state corporations.

BES president Ryan Straughn told the DAILY NATION yesterday he commended the “pro-growth initiatives” of Opposition Leader Owen Arthur, but said that without “specifics” it was difficult to assess how effective the policies would be.

Addressing the annual conference of his Barbados Labour Party (BLP) Sunday, Arthur announced a range of tax concessions in a 15-point plan for a BLP administration.

Among Arthur’s plans were the reversal of value added tax (VAT) from 17.5 per cent to 15 per cent, a reduced new middle-income tax rate of 25 per cent, restoration of allowances to their former tax-free status, reduced land taxes, and tax credits for people who bought medical health insurance and education savings plans.

Please read the full story in today’s DAILY NATION, or in the eNATION edition.

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Posted by Carl Harper 1 year, 10 months ago
For the Barbados Economics Society (BES) to say that the Opposition’s tax concessions announced over the weekend “will just create a mess” in the economy, is just reckless.

While Ryan Straughn admits that without “specifics” it was difficult to assess how effective the policies would be, it would be advisable to press for more details, rather than comment without the necessary information at his disposal.

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Posted by W E 1 year, 10 months ago
Dear Nation News,

The above statement was made by ONE member of the Barbados Economic Society (BES) and may not be representative of the entire body, thus it is not true to caption your article in this maner. It's about time that you step up your game, it's not all about sensationalism!

Daily Reader

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Posted by Kenneth King 1 year, 10 months ago
How about cutting the cost of living and finding other energy saving practices and while on the subject, support more local products. Asking people to spend less only sends mix signals because you cannot grow by cuts; should the Government cut out some of their state corporations, what will happen to those unemployed. If we are dealing with development and economic growth then education and better marketing in Tourism would be a start as well as local Manufacturing.

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