Posted on

Caution on cost of living

RACHELLE AGARD, [email protected]

Caution on cost of living

Social Share

Brace for an increase in the cost of living here. That’s the caution of the official Opposition led by Bishop Joseph Atherley.

Addressing a press conference on Saturday at the Opposition Office in Parliament, spokesman Bruce Hennis referred to Page 5 of the April 2 Ministerial Statement delivered by Minister in the Ministry of Finance Ryan Straughan, pointing out that given the conditions of the International Monetary Fund (IMF) programme, a hike in prices will be inevitable.

“We are in an environment of austerity. We have to therefore attend to, and meet, these self-imposed tariffs. We set them up, so we have to stay there . . . . A lot of us in Barbados are existing below a particular income level. When you then start to hit fees and tariffs, at all levels, you’re going to be impacted,” he said.

He added that the state-owned enterprises (SOEs) were operating at a deficit and not creating enough revenue to cover their operating expenses. (RA)

Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.