Barbados P M outlines financial proposals for country

[Dr.Dudd]

Wed Mar 14, 2007
Barbados Prime Minister outlines financial proposals for the country


Barbados Prime Minister Owen Arthur.

In Barbados, Prime Minister Owen Arthur Wednesday outlined a package of economic and financial proposals for the country.

With the country's main political party in election mode, analysts expect Mr. Arthur to use this year’s budget to position his ruling Barbados Labour Party to seek an historic forth consecutive term.

Many will be listening to hear how the Prime Minister will address the high cost of living, the rising food prices, the high national debt and what will be done to address the chronic inefficiency at the island’s main public hospital.

They will also be keen to know what impact the one year old CARICOM Single Market has been having on Barbados’ trade with other CARICOM states.

And Barbadians have yet to be told the government’s total expenditure on the ICC Cricket World Cup but it is felt that the country is easily the single biggest spender among the nine host territories.

There is a lot at stake for the Opposition Democratic Labour Party in this particular debate.

They will be looking to convince Barbadians that the party has recovered from the defection of their chief economic spokesman, the former Opposition leader Clyde Mascoll just over a year ago.

Mr. Mascoll, who was the only professional economist on the Opposition benches in Parliament, now sits across the isle as the Minister of State in Owen Arthur’s Ministry of Finance.

The three day budget debate will immediately be followed by a week long consideration of the estimates of revenue and expenditure.

http://www.radiojamaica.com

[Dr.Dudd]

Re: Barbados P M outlines financial proposals for country

Housing features in Barbadian 2007/08 budgetary proposals


Solutions for affordable housing, access to land and measures to tackle high inflation featured prominently when Barbadian Prime Minister Owen Arthur presented his 2007/08 budgetary proposals Wednesday.

In presenting his three-hour package of budgetary measures, the Prime Minister introduced no new tax measures to support a near US$1.5 billion expenditure budget for the coming financial year.

While no additional taxes were introduced, government's Estimates of Revenue and Expenditure for the financial year starting in April projected a 10 per cent increase in state spending to be facilitated by an expansion in the economy.

The Prime Minister also said the government intends to put 535 acres of land into low cost housing ventures.

Describing the budget as a 10-point plan to transform the economy, Mr. Arthur said the proposals addressed critical matters raised by the Barbadian public in recent public opinion polls.




Printer Friendly Version Post/view comments Send To Friend
wwww.radiojamaica.com