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Arthur: Economy faces contraction

Barbados Nation

Arthur: Economy faces contraction

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BARBADOS needs a half-billion-dollar stimulus to keep the economy from “contracting” under the weight of the $200 million tax measures announced in Monday’s Budget.

Former Prime Minister Owen Arthur said he could not support the proposals announced by Minister of Finance Chris Sinckler because they would neither “bring the deficit under control” nor “put the country back on a strong path of growth”.

The St Peter representative, who was speaking in his first Budget debate since walking away from the Barbados Labour Party to become an Independent Member of Parliament, said he was “sure” that “the withdrawal of $200 million from the economy is going to cause it to contract”.

Please read the full story in today’s Weekend Nation, or in the eNATION edition.