PROPERTY TAX IS one of the only areas to have shown a major increase in the Barbados economy, said Prime Minister David Thompson yesterday.

In speaking broadly on the current economic status and predictions during a money resolution debate in the Lower House yesterday, the Prime Minister said property taxes had increased by $12 million because of the Government's early collection of land taxes last year.

He also noted that tourism had shown an 11 per cent increase from Canada, while declines were registered from the largest market - Britain - as well as from the United States and CARICOM.

Growth in non-sugar and fisheries agriculture were evident, he said, based on investments in the agricultural sector.

Manufacturing, he added, had seen an 11 per cent decline overall as well as declines in all its subsectors, while construction and mining seemed headed for a standstill.

Meanwhile, he added, International Monetary Fund expectations included declines from the American, British and Canadian economies.

The current declines, added the Prime Minister, had affected unemployment which was now 9.9 per cent - mainly in the construction industry - compared to 8.8 per cent at the end of June 2008.

However, Thompson noted that since the Central Bank's review of the last nine months, the decline in long-stay tourism arrivals had slowed last month while cruise arrivals had hiked and was part of a six per cent overall increase in cruise arrivals.

As a result, Government would be implementing further marketing in the tourism sector, the Prime Minister said.

Thompson was leading debate in a $68 million resolution that featured $16 million in subsidies toward diesel for manufacturers, farmers, fisherfolk, vehicles and the Transport Board. (RJ)