Stoute: Zero inflation prevailing in first four months of 2007 good news
Web Posted – Fri Aug 17 2007

PRESIDENT of the Barbados Chamber of Commerce and Industry, Dick Stoute, has described as good news the zero inflation, which he said information suggested was the case, prevailing during the first four months of 2007. The same time he has called for more productivity gains, warning that if incomes rise faster than productivity, inflation will most likely take place.

The following is the full statement: “We have recently gone through a period of rapid price increases. Towards the end of last year prices were increasing at an annualized rate of close to 8% driven by significant price increases in oil, metals and cereals.”

Source: Advocate

CONSULTANT Althea Wiggins-Rock, at right, making a point to prominent businessman Arthur Lok Jack, at left, while BCCI president Dick Stoute, third from left, and Andrew Niles senior vice-president look on. (Picture by David Sandiford.)

The above article appears in the Barbados Advocate this morning and BU suggest that you should read the story before taking breakfast. If we say that we are confused it would be the understatement of the year. The conclusion which we have made is that Mr. Dick Stoute is part of the spin web with an election imminent. The statement is insensitive at a time in our history when the cost of living is being felt to the core by Barbadians. Mr. Stoute is obviously part of the establishment who is now being mobilized by his Barbados Labour Party master to go out and preach it!

We would have expected Mr. Stoute who is PRESIDENT of the Barbados Chamber of Commerce and Industry and who must know how the wholesale importers in Barbados operate; especially the very big ones__hint, hint. They have all established holding companies in Miami whose main function is to source and buy product for onward export to Barbados. The beauty of the operation is that the holding companies are being used to invoice the products at extraordinary and inflated prices to their Barbadian owned companies. Those invoices are then presented to our Customs Officials who will process as a matter of routine.Why is it that Minister Lynette Eastmond has not instructed the Fair Trading Commission of Barbados to investigate and break this unethical practice? We are not surprise by the inaction of government; for those who don’t understand what BU is hinting at you need to read our previous article.

Instead of investigating the heinous practice of our largest wholesalers the government chooses instead to hound the re-condition car market, which is an industry comprised of black businessmen, out of business. The BLP “smut rag” which refers to itself as the Barbados Advocate has disrespected all Barbadians this morning by casting such a big headline to such a story.

The big question which BU must ask this morning is who will save Barbados from itself?

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Cost Of Living in Barbados Out Of Control Like A Runaway Freight Train