BARBADOS WILL SOON be embarking on a special programme to reduce its large fiscal deficit.
But according to a leading economist, more taxes could be on the way as well, even if the programme does work.
The deficit reduction project was revealed yesterday by Minister of Finance Chris Sinckler, who said the Government would try to avoid as much social dislocation as possible, but would save the country around $200 million.
“We are looking at reforms that can earn either savings, or revenues, or a combination of both,” Sinckler revealed on the Starcom Network call-in programme Brass Tacks.
“This is a fairly significant adjustment. On the estimates we have put together, it is about $88 million this year, and then to follow that in 2017-18 by some additions, so that you get to that point in a longer space of time,” Sinckler said. (BA)
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