EX-PM warns of printing way to destruction
FORMER PRIME MINISTER Owen Arthur has flagged the large-scale printing of money by the Central Bank, saying if left unchecked it will be impossible to maintain the value of the Barbados dollar and will lead to “certain destruction”.
At the same time, he is warning that the answer to government’s fiscal shortfall does not lie in taxation.
On the contrary, he said that taxes on soft drinks, cellular phones and the like will not fill the financial gap, but rather could lead to a drop in revenue.
As he delivered the SALISES Developmental Lecture Wednesday night at the Errol Barrow Centre for Creative Imagination titled, Towards a new governance, the former Minister of Finance accused government of eroding its own tax base. (WILLCOMM)
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