BLP’s way to ease squeeze

OPPOSITION MP MIA MOTTLEY SPEAKING at yesterday’s Press conference as BLP spokesman on the economy Clyde Mascoll looks on. ((Picture by Sandy Pitt.))

By Dawne Parris | Sun, November 04, 2012 - 12:08 AM

THE OPPOSITION BARBADOS LABOUR PARTY (BLP) is urging Government to change course in its taxation policy, saying that a fall in revenue from value added tax (VAT) and excise tax, even though the rates have increased, demonstrates a “catastrophic policy failure”.

In addition to rolling back the VAT to 15 per cent, Opposition spokesman on the economy Clyde Mascoll has suggested that Government cut Barbadians’ energy bills through limiting Barbados National Oil Company’s (BNOC) profits.

“The best way to ease the pressure on Barbadians is to reduce the cost of energy, the cost of transportation, and the [best] way that we can think of is to take the BNOC and prevent it from getting $60 million in profit in a year in a depressed economy . . . . So Bajans pay less for electricity, gas and diesel.

“No one who is an independent economist can disagree with that,” Mascoll said.

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Posted by patrick mayers 6 months, 3 weeks ago: Seriously Iam sick of these people for the last Four to Five years we have been hearing the same story. things going to be real bad , Barbados on a downward spiral. Hello People wake up and see the world! Bajans are not so easily blinded or fooled ! what ever happened to that money which was borrowed for a rainy day; I think it was Supposed to be around $500 million? seriously if u have Barbados at heart please help not criticize.
Why are you not seeing that all the major economies are on a downward spiral? We depend on them so can you turn to GODS and heal the world?