Marshall frowns on tardiness
GOVERNMENT HAS WAITED too long to deal with the negative impact that declining international business sector earnings have had on the Barbados economy.
That’s the view of Dr Don Marshall, director of the Sir Arthur Lewis Institute of Social and Economic Studies at the University of the West Indies, Cave Hill.
In his latest Financial Statement And Budgetary Proposals yesterday, Minister of Finance Chris Sinckler said Barbados’ fiscal deficit and associated foreign exchange and debt problems were partly due to “a combination of revenue shortfalls, principally headlined by the fall-off in tax revenue receipts from the international business and financial services of more than 200 million per year since 2010”.
He added that “the loss in revenue from the international business is now running close to $1.4 billion in the last seven years”. (SC)
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