Too much pain, not much gain!
Too much pain and not enough gain.
President of the Barbados Chamber of Commerce Eddy Abed thinks this is what the increase in the National Social Responsibility will bring to Barbados.
Speaking during the open section for Issues of Concern at today’s Social Partnership meeting, Abed called on government to disclose how much revenue will be brought in by the NSRL hike in light of exemptions to the tax which have been made.
He noted that these exemptions will reduce the amount of revenue which will come in, stating:
“As much pain as this going to cause it’s still going to fall short of the mark.”
Abed asserted that the NSRL may even drive the country into recession and said it added another layer to the cost of doing business in Barbados without improving productivity.
He too criticised government over its dialogue with the partners, saying “we operate in uncertainty… in an environment where not enough information is put out in the public domain so that knowledgeable and reasonable interventions can be made.”
Saying that there was “no monopoly on intelligence”, Abed called for “true partnership” where there was sufficient input from all of the social partners.