BLP's way to ease squeeze

Dawne Parris,

Added 04 November 2012

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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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