Nation e-Edition

Tough cuts

Smiles all around – Prime Minister Freundel Stuart (third from right) walking ahead of Government ministers (from second left) Dr Denis Lowe, Steve Blackett and Michael Lashley. In the background is Stephen Lashley. (Picture by Nigel Browne.)

Wed, August 14, 2013 - 1:19 AM

BARBADIANS WILL BE FORCED TO ENDURE 19 months of pain, restraint, public sector hiring freezes and possible job cuts. These measures will be instituted while Government tries to spur the key foreign exchange-earning sectors with incentives for growth to turn around the struggling economy.

Burdened by nearly six years  of little to no growth in a battered international economy, quickly depleting foreign reserves which could drop to 12 weeks of imports by year-end, and declining foreign exchange, Minister of Finance Chris Sinckler yesterday stressed just how close to crisis the economy had sunk.

In his three-hour long 2013 Financial Statement and Budgetary Proposals from the House of Assembly, Sinckler launched Government’s self-imposed austerity programme, belling the cat that critics accused the administration of refusing to touch.

He outlined policies to plug  a $400 million deficit and in the process Government is tightening the screws on almost every dollar it was spending.

The most critical action he announced was a roll back on the much vaunted free university education.

 

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

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Posted by David Hall 1 year, 2 months ago
Given this government's dismal performance record, its unlikely that the framework for any of the proposed growth strategies will ever be implemented, also, i do not expect hiring to stop as the DLP supporters still have to be satisfied, overall the measures outlined here which are woefully short on specifics cannot correct the deficit we are in, this is merely another feel good budget.

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Posted by Terri Hoyte 1 year, 2 months ago
All I have to say to those who sold their votes, who said DEM deserve a second chance... I Plead the Fifth - By Sugar Aloes sums it up.

May God help us all!

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Posted by ego evaluation 1 year, 2 months ago
They can afford to be all smiles, this is not good enough, I think they need some help and either are unaware they need help or too proud to ask. They have also already benefited from the free education as have many of the foreign spouses of Barbadian politicians and others who have taken full advantage of all the sweets that come with becoming a bajan.

Now the people of the country who have been suffering all this time will become worst, they are pushing Barbados backwards.

I have often thought that many can afford to and should make a contribution to their education but is should be based on a means test. Not a standard payment for everyone, these youth are facing a hard enough time without this added to the burden of many poor families who will not be able to have a chance. This is a sad situation, I never thought Barbados would come to this..

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