Barbados Budget 2011 – Feedback

Chris Sinckler, Minister of Finance

The government delivered the much anticipated Financial and Budgetary Proposal for 2011. The unprecedented financial support to the cultural industry in the amount of 50 millions dollars financed over fiver years, and the commitment to integrating an alternative energy solution are the notable deliverables.

We are told it is a tax free budget.

0 thoughts on “Barbados Budget 2011 – Feedback

  1. debt:gdp moving from50+ to 80+ under the blp is a bland statement which might make for good politiics but does not paint an accurate picture.whether we like it or not ; had not the the dlp administration provided the opportunity to make debt easily accessible to all those and not some who could afford , barbados’ boast of moving from a village to a developed country would not have been yet possible. i can’t understand for the life of me why we castigate debt when ownership of 90% of the vehicles and more importantly homes in barbados are acquired as a result of some debt arrangement. Can one imagine what life would be like if we still had to wait as our great-grandmothers did on meeting turn after meeting turn to buy not truss buy the lumber from manning or plantation ltd to put on the shedroof and then the middle section and then the front house.access to credit did enhance the quality of life of the average barbadian who had little hope of owning anything by purchasing cash. so debt is not the pariah we make it out to be if it is properly managed and not accessed for extravagance.or waste. i quote lisa drakes of the research dept of the central bank in relation to public debt ” accumulation of public debt is often necessary and acceptable, particularly when it is done to accomplish some growth or developmental objective” this notion is relevant to any kind of debt arrangement large or small

  2. @Hants: “So you are proud of discriminating against white,red legs and indian Bajans.


    Let me please tell you the results of the sole “White Bajan” who applied for the job…

    I have an unusual review process — I present challenges, and want to see how the candidates respond.

    I hired the first candidate because he argued with me. I didn’t care that he had no formal education nor certification.

    I hired the second candidate because he had qualifications.

    The only White Bajan who applied couldn’t even log into a Linux server. It was the only time in my life I ended an interview early because the candidate was obviously not qualified.

    Amusingly, the White Bajan called me and yelled at me, because he felt he should have got the job because he had a degree….

  3. @ Halsall

    The contract is a five year term the votee gets on ‘appointment’ by the voters based on promises made during the interview stage. The contract is renewed or terminated prior to 5 years elapsing.

  4. @Enuff: “The contract is a five year term the votee gets on ‘appointment’ by the voters based on promises made during the interview stage. The contract is renewed or terminated prior to 5 years elapsing.

    Can you show me that it writing?

  5. If the argument by the Opposition regarding the real impact of the so-called “land tax ease” is true then it brings into question again the competence of the Minister of Finance and the soundness of the government’s policy. Every Budget now seems to have policy measures that are miscalculated or based on the misinterpretation/application of the law.

  6. I assumed the change in bands of land tax up to $190,000 at no charge was to accommodate persons who have been given houses (rent to ownership) and those who were encouraged to purchase low income houses.

    However I was trying to listen to part of George Payne speech and am I correct in that he seemed to infer that most people will be worse off regarding land tax? I’m confused. Can someone clarify?

    Regarding other points in the budget I would of liked to have seen more money being available to assist those elderly etc persons with electricity bills. $5 million dollars sounds a lot but in fact it may not stretch very far, especially as we have a large elderly population, as well as those in need. It would also of being interesting to be told how they will select who will be eligible and who will not. I hope the money really gets to those that need the help.

    I also would have liked to seen the basket of goods increase to include items such as nappies, adult pampers, sanitary products etc. as these are fairly expensive products and are more of a necessity than a nicety.

    Re the land use at Deacons for the cultural center. Doesn’t that area flood? If so how will that affect the homes of the people living in and behind that area because there will be even less room for the water to run off?

  7. Honourable Chris Sinckler mash up Arthur in the Budget wrap up like Muhammad Ali beat up Sonny Liston! Licks like fire ! TKO

  8. Zack

    Continue with a nonsense process because there is no alternative … Dude shut up and do something different for a change. Not running a country with 33% of its citizenry already employed in the service of so doing. You put too much significance of two parties which exist only for the sake of feathering nests. DO NOT F#CKING VOTE!

  9. Pat girl, after that ass-cutting from Chris, If I wuz Owen, I wud be so shame, I wud han back over to Mia tomorrow

    • Sandra Husbands He did not say that. He had an e-copy of the budget summary, but he was unable to give detailed study of the actual proposals. Therefore he did not comment on the proposals themselves but the glaring absence of initiatives to really deal with the real problems of the fiscal deficit, and the crisis in waiting that this presents to the barbadian economy. The things that he expected to hear based on his close analysis of the Barbadian economic situation Economists like to use their econometric tools to assess potential impact of specific policies, so obviously there was no time for closer analysis.

    • This is where the local media can do their job.

      A reporter needs to question Doctor Francis on the preparation he did before he issued his comments on the budget presentation.

      Especially so since VOB generously carried his views

  10. @David

    Sandra Husbands coming to the defense of this “economist” tells me all I need to know about his partiality or should I say lack thereof

    • @Sarge

      Dr Francis is entitled to put his view out there but he must expect that he will get counter comment. The fact he is reputed to have read only the budget e-summary when aligned with his public critique opens him to some questions. It is up to him to shore up his credibility.

  11. I found the bit on Global Masters and Barbados’ real gdp ranking interesting. I checked and in 2002 barbados was 181 out of 191.

    Owen has argued that he can do better with the economy, but it seems to me that when the US and UK catch a cold we get something much worse, whoever is minister of finance. I grew up hearing something like that.

    Economics can just piss you off. It is just so opinionated.

    • @old school

      It is commonsense, our economy is externally driven and those two markets you cited are our significant source markets for tourists, remittances and fdi.

      If they are performing sluggishly Barbados will be affected. One does not have to be an economists to make such a conclusion.

  12. At best it seems that Dr. Francis commented on the budget he would have liked to see rather than the one that was presented.

    Oh well.

    Will local banks give loans for solar panels on your house?

    • @Old School

      Given the lending policy of banks over the years in Barbados only applicants who quality for unsecured credit are likely to be successful.

  13. I think the global masters ranking in 2002 puts a serious dent in the argument that domestic policy has made the recession worse. Mascoll, Owen and the BLP as well as Francis, and harry Russell have been at the forefront of this argument.

    If my memory is correct the global recession of 2001/2002 was rather mild compared to this one.

  14. I thought the BLP was doing very well in this budget debate until Clarke melted down, and they went steadily downhill from there.

    I think Owen was less than convincing on the prison matter and the Global masters revelation must have hurt one of his core arguments

  15. Here is the 2002 ranking

    Showing values for 2002. Select another time period: Most recent 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Rank Countries Amount Date
    # 1 Turkmenistan: 21.1 % 2002
    Turkmenistan Economy

    # 2 Equatorial Guinea: 20 % 2002
    Equatorial Guinea Economy

    # 3 Armenia: 12.9 % 2002
    Armenia Economy

    # 4 Azerbaijan: 10.6 % 2002
    Azerbaijan Economy

    # 5 Rwanda: 9.7 % 2002
    Rwanda Economy

    # 6 Macau: 9.5 % 2002
    Macau Economy

    # 7 Kazakhstan: 9.5 % 2002
    Kazakhstan Economy

    # 8 Angola: 9.4 % 2002
    Angola Economy

    # 9 Tajikistan: 9.1 % 2002
    Tajikistan Economy

    # 10 China: 8 % 2002
    China Economy

    # 11 Turkey: 7.8 % 2002
    Turkey Economy

    # 12 Mozambique: 7.7 % 2002
    Mozambique Economy

    # 13 Bhutan: 7.7 % 2002
    Bhutan Economy

    # 14 Iran: 7.6 % 2002
    Iran Economy

    # 15 Chad: 7.4 % 2002
    Chad Economy

    # 16 Albania: 7.3 % 2002
    Albania Economy

    # 17 Vietnam: 7 % 2002
    Vietnam Economy

    # 18 Ireland: 6.9 % 2002
    Ireland Economy

    # 19 Lithuania: 6.7 % 2002
    Lithuania Economy

    # 20 Sierra Leone: 6.6 % 2002
    Sierra Leone Economy

    # 21 Moldova: 6.5 % 2002
    Moldova Economy

    # 22 Korea, South: 6.3 % 2002
    Korea, South Economy

    # 23 Tanzania: 6.1 % 2002
    Tanzania Economy

    # 24 Latvia: 6.1 % 2002
    Latvia Economy

    # 25 Estonia: 6 % 2002
    Estonia Economy

    # 26 Benin: 6 % 2002
    Benin Economy

    # 27 Laos: 5.7 % 2002
    Laos Economy

    # 28 Uganda: 5.5 % 2002
    Uganda Economy

    # 29 Georgia: 5.4 % 2002
    Georgia Economy

    # 30 Thailand: 5.3 % 2002
    Thailand Economy

    # 31 Kyrgyzstan: 5.3 % 2002
    Kyrgyzstan Economy

    # 32 Peru: 5.3 % 2002
    Peru Economy

    # 33 Burma: 5.3 % 2002
    Burma Economy

    # 34 Croatia: 5.2 % 2002
    Croatia Economy

    # 35 French Polynesia: 5.1 % 2002
    French Polynesia Economy

    # 36 Sudan: 5.1 % 2002
    Sudan Economy

    # 37 Samoa: 5 % 2002
    Samoa Economy

    # 38 Jordan: 4.9 % 2002
    Jordan Economy

    # 39 Romania: 4.9 % 2002
    Romania Economy

    # 40 Ukraine: 4.8 % 2002
    Ukraine Economy

    # 41 Tunisia: 4.8 % 2002
    Tunisia Economy

    # 42 Bangladesh: 4.8 % 2002
    Bangladesh Economy

    # 43 Bulgaria: 4.8 % 2002
    Bulgaria Economy

    # 44 Belarus: 4.7 % 2002
    Belarus Economy

    # 45 Qatar: 4.6 % 2002
    Qatar Economy

    # 46 Morocco: 4.6 % 2002
    Morocco Economy

    # 47 Fiji: 4.6 % 2002
    Fiji Economy

    # 48 Burkina Faso: 4.6 % 2002
    Burkina Faso Economy

    # 49 Ghana: 4.5 % 2002
    Ghana Economy

    # 50 Mali: 4.5 % 2002
    Mali Economy

    # 51 Cambodia: 4.5 % 2002
    Cambodia Economy

    # 52 Burundi: 4.5 % 2002
    Burundi Economy

    # 53 Philippines: 4.4 % 2002
    Philippines Economy

    # 54 Slovakia: 4.4 % 2002
    Slovakia Economy

    # 55 India: 4.3 % 2002
    India Economy

    # 56 Russia: 4.3 % 2002
    Russia Economy

    # 57 Botswana: 4.2 % 2002
    Botswana Economy

    # 58 Uzbekistan: 4.2 % 2002
    Uzbekistan Economy

    # 59 Dominican Republic: 4.1 % 2002
    Dominican Republic Economy

    # 60 Yemen: 4.1 % 2002
    Yemen Economy

    # 61 Malaysia: 4.1 % 2002
    Malaysia Economy

    # 62 São Tomé and Príncipe: 4 % 2002
    São Tomé and Príncipe Economy

    # 63 Cape Verde: 4 % 2002
    Cape Verde Economy

    # 64 Cameroon: 4 % 2002
    Cameroon Economy

    # 65 Serbia and Montenegro: 4 % 2002
    Serbia and Montenegro Economy

    # 66 Lesotho: 4 % 2002
    Lesotho Economy

    # 67 Greece: 4 % 2002
    Greece Economy

    # 68 Mongolia: 3.9 % 2002
    Mongolia Economy

    # 69 Guinea: 3.7 % 2002
    Guinea Economy

    # 70 Indonesia: 3.7 % 2002
    Indonesia Economy

    # 71 Belize: 3.7 % 2002
    Belize Economy

    # 72 Syria: 3.6 % 2002
    Syria Economy

    # 73 Australia: 3.6 % 2002
    Australia Economy

    # 74 Djibouti: 3.5 % 2002
    Djibouti Economy

    # 75 Somalia: 3.5 % 2002
    Somalia Economy

    # 76 Congo, Democratic Republic of the: 3.5 % 2002
    Congo, Democratic Republic of the Economy

    # 77 Taiwan: 3.5 % 2002
    Taiwan Economy

    # 78 Ecuador: 3.4 % 2002
    Ecuador Economy

    # 79 Algeria: 3.3 % 2002
    Algeria Economy

    # 80 Canada: 3.3 % 2002
    Canada Economy

    # 81 Hungary: 3.3 % 2002
    Hungary Economy

    # 82 Saint Lucia: 3.3 % 2002
    Saint Lucia Economy

    # 83 New Zealand: 3.3 % 2002
    New Zealand Economy

    # 84 Mauritania: 3.3 % 2002
    Mauritania Economy

    # 85 Sri Lanka: 3.2 % 2002
    Sri Lanka Economy

    # 86 Slovenia: 3.2 % 2002
    Slovenia Economy

    # 87 Egypt: 3.2 % 2002
    Egypt Economy

    # 88 Trinidad and Tobago: 3.2 % 2002
    Trinidad and Tobago Economy

    # 89 Nigeria: 3.2 % 2002
    Nigeria Economy

    # 90 Ethiopia: 3 % 2002
    Ethiopia Economy

    # 91 Antigua and Barbuda: 3 % 2002
    Antigua and Barbuda Economy

    # 92 South Africa: 3 % 2002
    South Africa Economy

    # 93 Brunei: 3 % 2002
    Brunei Economy

    # 94 Bahrain: 2.9 % 2002
    Bahrain Economy

    # 95 Niger: 2.9 % 2002
    Niger Economy

    # 96 Togo: 2.9 % 2002
    Togo Economy

    # 97 Bolivia: 2.8 % 2002
    Bolivia Economy

    # 98 Costa Rica: 2.8 % 2002
    Costa Rica Economy

    # 99 Grenada: 2.5 % 2002
    Grenada Economy

    # 100 Honduras: 2.5 % 2002
    Honduras Economy

    # 101 Réunion: 2.5 % 2002
    Réunion Economy

    # 102 Senegal: 2.4 % 2002
    Senegal Economy

    # 103 United States: 2.4 % 2002
    United States Economy

    # 104 Zambia: 2.3 % 2002
    Zambia Economy

    # 105 Namibia: 2.3 % 2002
    Namibia Economy

    # 106 Bosnia and Herzegovina: 2.3 % 2002
    Bosnia and Herzegovina Economy

    # 107 Hong Kong: 2.3 % 2002
    Hong Kong Economy

    # 108 Maldives: 2.3 % 2002
    Maldives Economy

    # 109 Mauritius: 2.3 % 2002
    Mauritius Economy

    # 110 San Marino: 2.3 % 2002
    San Marino Economy

    # 111 Guatemala: 2.2 % 2002
    Guatemala Economy

    # 112 Singapore: 2.2 % 2002
    Singapore Economy

    # 113 Oman: 2.2 % 2002
    Oman Economy

    # 114 El Salvador: 2.1 % 2002
    El Salvador Economy

    # 115 Chile: 2.1 % 2002
    Chile Economy

    # 116 Virgin Islands: 2 % 2002
    Virgin Islands Economy

    # 117 Lebanon: 2 % 2002
    Lebanon Economy

    # 118 Liberia: 2 % 2002
    Liberia Economy

    # 119 Comoros: 2 % 2002
    Comoros Economy

    # 120 Eritrea: 2 % 2002
    Eritrea Economy

    # 121 Spain: 2 % 2002
    Spain Economy

    # 122 Czech Republic: 2 % 2002
    Czech Republic Economy

    # 123 Sweden: 1.9 % 2002
    Sweden Economy

    # 124 United Arab Emirates: 1.8 % 2002
    United Arab Emirates Economy

    # 125 United Kingdom: 1.8 % 2002
    United Kingdom Economy

    # 126 Malawi: 1.7 % 2002
    Malawi Economy

    # 127 Cayman Islands: 1.7 % 2002
    Cayman Islands Economy

    # 128 Swaziland: 1.6 % 2002
    Swaziland Economy

    # 129 Finland: 1.6 % 2002
    Finland Economy

    # 130 Denmark: 1.6 % 2002
    Denmark Economy

    # 131 Central African Republic: 1.5 % 2002
    Central African Republic Economy

    # 132 Brazil: 1.5 % 2002
    Brazil Economy

    # 133 Colombia: 1.5 % 2002
    Colombia Economy

    # 134 Seychelles: 1.5 % 2002
    Seychelles Economy

    # 135 Tonga: 1.5 % 2002
    Tonga Economy

    # 136 Poland: 1.4 % 2002
    Poland Economy

    # 137 Suriname: 1.2 % 2002
    Suriname Economy

    # 138 Dominica: 1.2 % 2002
    Dominica Economy

    # 139 France: 1.2 % 2002
    France Economy

    # 140 Tuvalu: 1.2 % 2002
    Tuvalu Economy

    # 141 Libya: 1.2 % 2002
    Libya Economy

    # 142 Malta: 1.2 % 2002
    Malta Economy

    # 143 Kenya: 1.1 % 2002
    Kenya Economy

    # 144 Nicaragua: 1.1 % 2002
    Nicaragua Economy

    # 145 Austria: 1.1 % 2002
    Austria Economy

    # 146 Cuba: 1.1 % 2002
    Cuba Economy

    # 147 Guyana: 1.1 % 2002
    Guyana Economy

    # 148 Jamaica: 1 % 2002
    Jamaica Economy

    # 149 Norway: 1 % 2002
    Norway Economy

    # 150 British Virgin Islands: 1 % 2002
    British Virgin Islands Economy

    # 151 Micronesia, Federated States of: 1 % 2002
    Micronesia, Federated States of Economy

    # 152 Saudi Arabia: 1 % 2002
    Saudi Arabia Economy

    # 153 Korea, North: 1 % 2002
    Korea, North Economy

    # 154 Panama: 0.7 % 2002
    Panama Economy

    # 155 Mexico: 0.7 % 2002
    Mexico Economy

    # 156 Saint Vincent and the Grenadines: 0.7 % 2002
    Saint Vincent and the Grenadines Economy

    # 157 Belgium: 0.7 % 2002
    Belgium Economy

    # 158 Macedonia, Republic of: 0.7 % 2002
    Macedonia, Republic of Economy

    # 159 Bermuda: 0.5 % 2002
    Bermuda Economy

    # 160 Italy: 0.4 % 2002
    Italy Economy

    # 161 Luxembourg: 0.4 % 2002
    Luxembourg Economy

    # 162 Portugal: 0.4 % 2002
    Portugal Economy

    # 163 Gabon: 0.2 % 2002
    Gabon Economy

    # 164 Germany: 0.2 % 2002
    Germany Economy

    # 165 Japan: 0.2 % 2002
    Japan Economy

    # 166 Netherlands: 0.2 % 2002
    Netherlands Economy

    # 167 Switzerland: 0.1 % 2002
    Switzerland Economy

    # 168 Bahamas, The: 0.1 % 2002
    Bahamas, The Economy

    # 169 Puerto Rico: -0.2 % 2002
    Puerto Rico Economy

    # 170 Vanuatu: -0.3 % 2002
    Vanuatu Economy

    # 171 Iceland: -0.6 % 2002
    Iceland Economy

    # 172 Nepal: -0.6 % 2002
    Nepal Economy

    # 173 Israel: -0.8 % 2002
    Israel Economy

    # 174 Haiti: -0.9 % 2002
    Haiti Economy

    # 175 Montserrat: -1 % 2002
    Montserrat Economy

    # 176 Aruba: -1.5 % 2002
    Aruba Economy

    # 177 Côte d’Ivoire: -1.6 % 2002
    Côte d’Ivoire Economy

    # 178 Saint Kitts and Nevis: -1.9 % 2002
    Saint Kitts and Nevis Economy

    # 179 Kuwait: -2 % 2002
    Kuwait Economy

    # 180 Paraguay: -2.7 % 2002
    Paraguay Economy

    # 181 Barbados: -2.8 % 2002
    Barbados Economy

    # 182 Iraq: -3 % 2002
    Iraq Economy

    # 183 Papua New Guinea: -3.1 % 2002
    Papua New Guinea Economy

    # 184 Guinea-Bissau: -4.3 % 2002
    Guinea-Bissau Economy

    # 185 Venezuela: -8.9 % 2002
    Venezuela Economy

    # 186 Uruguay: -10.8 % 2002
    Uruguay Economy

    # 187 Argentina: -10.9 % 2002
    Argentina Economy

    # 188 Madagascar: -11.9 % 2002
    Madagascar Economy

    # 189 Zimbabwe: -13 % 2002
    Zimbabwe Economy

    # 190 Gaza Strip: -15 % 2002
    Gaza Strip Economy

    # 191 West Bank: -22 % 2002

  16. @David

    The reputable thing to do would be to preface his remarks by noting that his comments were based on limited information, that they were based on an “e summary”. Instead he went full bore in his criticism to the Chamber of Commerce, how would he have graded his students if they wrote a paper based on incomplete data?

  17. Pat, that was the most brutal attack launched against that RACIST ONE GLYNE CLARKE, OWEN ARTHUR, GEORGE PAYNE and MIA MOTTLEY That I have ever heard or seen

    We have been told for a very long time that this group was the most corrupt ever to run the affairs of this Nation but tonight proved it beyond any shadow of a doubt, for Arthur to tell the Nation that he was not part of the group that awarded the VECO Prison contract and did not chair Cabinet only to have the PM pull the files and to have shown him to have attended ALL of the meetings and then for Sinckler to produce the Letter Of Comfort for the same prison and VECO signed by the same liar crook Arthur blew him out of the water.

  18. it is common knowledge that Mr Darcy Boyce , Mr Arthurs,s henchman at the time was on the committee set up to award the prison the contract and he gave the most points to VECO.

  19. Look how the BLP trying to pin the VECO fiasco on Darcy Boyce, did Arthur have a sign on his desk saying “The Buck stops somewhere else”?. There was only one vote in the room that counted and that was Arthur’s and he didn’t brook any dissent (this from someone who was often in the room with him).

    Darcy Boyce makes a convenient scapegoat, but who had control of the Gov’t purse strings? Good luck trying to unload that pile of pig manure on him, but we will not be fooled.

  20. Who is the boy Francis? Having heard a bit of what he said he’s obviously not Bajan, his nationality is relevant from the standpoint you seldom hear anything positive on Barbados coming from our so called Caricom neighbours. Its the international world outside the region who rates Barbados as a remarkable small island state. Its the international community who rate Bdos NO1 on Human Development Index. Our so called Caricom neighbours dont like that.

    Kofi Annan remarked we punch above our weight. The UN. UK, US etc rate Barbados so highly they reckon we are closest to First Wolrd in the Caribbean. You dont hear such unbiased plaudits from our so called Caricom neighbours.

    The Francis boy is a so called Caricom neighbour living off Bajan taxpayers money at the mansion on cave Hill so him dumping on the budget without reading it is not surprising. One must ask if the likes of David Ellis and the Vic Fernandes cabal at OCM network are in cahoots with our so called Caricom neighbours to villify Barbados. Its high time Bajans tell vermin like Francis where to get off.

  21. Sinckler’s reply was full of useful insights. I paid a lot of attention to his statement on the real vs Nominal GDP thing.

    Mascoll and Arthur had managed to make me uneasy about the data coming out from the Central bank, but Sinckler was able to reveal that in 2003, the nominal gdp growth was negative but the real gdp growth was positive. Please don’t ask me to understand that. However, if it happened in 2003, is it fair for Mascoll and Arthur to claim slight of hand if it happen again in 2011? I noted that Arthur did not contradict

    You see Mascoll and Arthur’s have sought to potray themselves as trained economists who are seeking to bring fair, unbiased economic analysis to bajans. The main stream media have also allowed them to assume that posture. It now seems to me that their economic analysis is very selective in nature and generously coated with political posturing.

  22. I’m glad that the minister of finance has stated that the insurance policy holders and Al Barrack would be settled before the end of the year ( I hope it is the year 2011). While this is good news, why wasn’t that statement made during his budget presentation? I believe that this along with the return to 15% VAT was to form part of the give-aways in the general election budget. The impact would not now be was forceful.

  23. Depends on who view point. The B;s say they came out rocking the D’s same thing while ordinary bajans happy the budget gone but still hurting form the measures last year. They still in place and have cause inflation to rise. Did they find the medicine appropriate or harsh will be found out in polls or general election. I think its the latter but we must wait and see.

  24. @David
    methinks Owen is what went wrong. The political “vibrancy” and “party position above self politics” mindset seems to have evaporated from him. That plus some lackluster “individual” contributions from the opposition side equals a lost chance for them this week. I still think it’s their election to lose but if they get caught up in trying to defend their 14 years or trading barbs on who has the most “honesty and integrity” they will lose. If the election is fought only on performance, competence, issues and the way forward for the country, then they will most likely win. If nothing else the budget debate showed that all is not lost yet for the DLP and there is no writing on the wall as yet..

  25. I don’t like the tone of Min Donville Inniss’ speech, Dr Francis gave his view and it seems Mr Inniss is threatening his job because he was critical of the budget. Whether I agreed with what the man said is not the point, it shows some level of thinskin in the minister. I also realise that other colleagues of Dr Francis is backing him. In fact I understand they sent a message to government saying “touch one, touch all.” I believe this country is still a democratic one, and freedom of speech is one of those rights.

  26. @ Observing closely

    “The Francis boy is a so called Caricom neighbour living off Bajan taxpayers money at the mansion on cave Hill…”
    As far as I know he is St.Lucian just like the MP for St. John who based on your comment is also living of we as taxpayers. The MP also has more family living in St. Lucia than here in Barbados. Is she as well as her family “vermin” too simply because they are St.Lucian and therefore hate Barbados as you wrote about Mr. Francis?

    What about Prof Robinson who lectures at UWI, sits on the Board of the Central Bank and comments on local economic affairs? is he “vermin” hates Barbados because he is Vincentian?

    There really was no need to highlight whether Mr. Francis is Barbadian or not, you should focus on what he said and offer a valid rebuttal.

  27. Anyone remember the “Sherbourne Cultural Centre” proposed in the late 80″s by Sir Lloyd Sandiford the then Minister of Education and Culture? In its brief was a state of the art theatre seating 2000 persons that was 45% complete! with baths and dressrooms , elevated stage , tier seating and balconies and passage ways all laid out and waiting to recieve continential seating? well that was all demolished for a speculative office building and carpark.
    Now thew idea raises its head as a new one in the 2011 budget (proposed
    by the same administration), and not a fellow remembers this ? see what short memories we have? and a loud cheer is herald in the cultural forum.
    even Ms. Mia Mottley, Edwin yearwood and Boo Rudder forgot!

    Second, why was the Solar educational institute proposed by the Ministry of energy shelved by this current administration upon taking up the Government?

  28. Now we see education in Solar technology as improtant and innovative? so the students who would have been involved would have had some three years experience by now. Come on- Barbadians!

  29. Next, if you change the position of the goal post? can u score a goal by positioning the ball in the old location?. Well tell that to the land tax ease. My $140,000 house now revalued at $215,000 is expected to be included in the $190,000 band. Many people like myself would realise we now are on the tax roll?

  30. Finally, how many citizens are at ease now or in receipt of relief from their current electricity, food, water,sewage,gas(also natural gas) bills? as aresult of the new budgetary proposals. At least the c hotel sector get a grace period in paying their newly priced land tax bills.

  31. By the way, anyone remembers when the then “Tom” Adams asked Mr Errol Barrow to bring ideads to help in the economic administration of Barbados? what was Mr Barrow’s reply? ” If i help you run Barbados , you will always be in power and i will remain in the opposition for ever”. ( ref : house of assembly debates bet 1976-1983),so much for bipartisan support and since “politics of inclusion” Mr owen Arthur is crucified!

  32. Prime Minister Mr Freundel Stewart stated that tthere was a shortage of supply of housing in barbados and a high demand for the same. Could someone take him down Country roadof stewart lodge and let him have a look at the 56+ apartments sitting idle two (2) years now. If he was employed by “Bajans services” he would be on the breadline two years now. So long to decide a rental fee? my conpany would fold up! can’t we decide who are the ” poor and most vulnerable citizens in the island in need of housing. oh sorry! elections coming soon- my bad!!!

  33. The BLP also lost on the facts:

    1. Mascoll and Arthur made much of the fact that there was a difference between nominal and real gdp growth in 2010 and that the central bank was hiding the true picture. Sinckler pointed out that it had happened in 2003 as well and there was no contradiction from Owen.

    2. Mascoll kept claiming that a major cause of the fiscal deficit was not the global recession but the DLP padding the public sector payroll. He claimed the DLP had added about 4or 5 thousand to the payroll since 2008, we now find out that is far from correct. Instead of the 34,000 public servants claimed by Mascoll we find out we have less than 28,000.

    3. Owen made much of the fact that even though there was a global recession and we would be affeedted, that due to poor DLP management Bim was falling behind its peers and was ranked 197 out of 217. We found out that the same ranking of countries in 2002 had Bim at 181 out of 191, during a far milder recession than the current one.

    For me the ability of owen and Clyde to potray themselves as Trained Economists espousing purely economic views based on their training has been shattered.

    I had also begun to think that the DLP was not well placed to manage the economy during a crisis time. However, the facts seem to suggest to me that the economic outcomes are not that different from the last recession in 2001/2002 when the BLp were in charge.

  34. If we in Barbados accept today that a Minister of Government, Member of Parliament, or anyone from the political class can without evidence and without consideration for alternative views, threaten the jobs and livelihoods of those who continue to contribute to the education we love to boast about as being superior, then Barbados has indeed become an unethical society. If that behaviour sets in as norm as seemingly becoming the intent by this DLP for anyone that does not seem to share their views, then it becomes crystal clear why there is an emphasis on ‘society’ as opposed to either putting the economy right or working on both simultaneously. It is glaringly obvious that the DLP is on a crusade to destroy the independence that is the hallmark of academia; they are saying to Barbadians, no critical or alternative views, toe the line with what we feed you or else. This is very sad.
    Since January 2008 it has been attacks on the Dean of the Social Sciences faculty, Dr. George Belle; more recently, Dr. Tennyson Joseph; even Professor Beckles has attracted some attention; and now Dr. Francis and his work, national origins, and capacity to speak with the intellectual freedom for which the world over uses as a think-tank to progress societies has come under the virulent missiles of Donville, Sinckler, and that crowd. Certainly these are two men that may have something much better to offer Barbadians if only they would concentrate on their respective tasks rather than threaten to terminate services and rid the UWI of persons who do not sing the DLP’s pompous anthem. Sad days ahead and I am urging right-thinking Barbadians to pull it back before it is too late. Do not let the political class whoever these may be destroy what the Adams’ and barrow has done for this country and region. Start thinking and stop supporting for the sake of supporting.

  35. I watched all of the debate how was Francis’ job threatened?

    Francis has a right to his views, and I ams ure he knows that if you make those kind of comments yu are going to draw political fire.

    Someone mention prof robinson, he has come under fire for being pro DLP and I have not heard any complaints. Dr. Belle and Prof Beckles have clearly demonstrated strond pro Arthur and BLP sentiments. If academics line up in political corners then they must expect to draw poitical fire. Yu should not be able to take a political side and then hide behind academia.

    If I see academcis being victimised I would then cuss the government for any such actions. I will not cuss them for a robust defense of their position in response to comments from academics. As far as i knwo Anthony Wood, Brian Francis, Tennyson Joseph and Clyde Mascoll continue to enjoy employment at UWI Cave Hill.

    Academics who enter the public fray should take their blows like anybody else.

  36. In my case watching also involves listening intently.

    Dr. Francis did himself no favours by at least intimating that he had not really done any intent study of the budget, but then proceeded to rubbish it. As I said, I have no problem with his comments, but if you comment in that tone he did you will draw political fire and you should be prepared to take it. If you gine pelt a lash yu must expect to take a lash. Methinks you and others protest too much when yu take strong and critical positions and encounter a robust response.

    Some seem to think that whenever academics comment the public and leaders should mildly say thank you for sharing your wisdom with us.

    It does strike us in the public that for at least a decade Cave Hill was silent on most if not all issues.

    No one in the economics dept commented on the differential between real and nominal gdp in 2003.

    I am shocked to find out that we had four downgrades of our credit rating in the arthur years. The media, uwi and other people who now pontificate whenever there is a downgrade now had nothing to say then.

    No one commented on the escalating cost of land and housing for bajans.

    Despite the robust debate of the last three years as far as I am aware:

    Owen Arthur sits at UWI with an expansive office while serving as a sitting member of parliament. he even calls a political press conference at his uwi office. I wonder if such could happen with Arthur as PM.

    Clyde Mascoll attacks the administration at every turn, but continues to enjoy employment at UWI unharassed by the govt.

    Prof. Howard continues as professor of economics unharassed by the govt.

    Dr. belle is dean of social sciences unharassed by the govt.

    tennyson joseph is still employed at uwi, unharrased by the govt.

    Brian francis is still employed at uwi, unharassed by the govt.

    If yu gine share blows be prepared to take blows. i will join you in a crusade if i see anyone being victimized, but i will not join yu in a thin skinned reaction to robust debate in the heat of what was always going to be a pointed debate.

  37. Barbados
    Oct. 22, 2010 BBB-/Stable/A-3 BBB-/Stable/A-3 BBB
    Nov. 13, 2009 BBB+/Negative/A-2 BBB/Negative/A-3 BBB+
    June 10, 2009 BBB+/Stable/A-2 BBB/Stable/A-3 BBB+
    April 8, 2009 A-/Negative/A-2 BBB+/Negative/A-2 A-

    July26, 2006 A-/Stable/A-2 BBB+/Stable/A-2 A-
    April6, 2006 A-/Negative/A-2 BBB+/Negative/A-2 A-
    July 29, 2005 A-/Negative/A-2 BBB+/Negative/A-2 BBB+
    Nov. 1, 2005 A-/Stable/A-2 BBB+/Stable/A-2 BBB+
    Aug. 5, 2004 A-/Stable/A-2 BBB+/Stable/A-2
    Aug. 19, 2003 A+/Negative/A-1 A-/Negative/A-2
    Dec. 17, 1999 AA-/Stable/A-1+ A-/Stable/A-2

    local was rated AA- in 1999 at end of term is was A-. foreign borrow was rated at A- in 1999 at end of term BBB+ in 2006 , T&C was rate BBB+ in 2005 at end of term A-.

    At being of 2008 local was A- foreign BBB+ and T & C A-. Currently as of today it local as BBB- foreign at BBB- and T&C at BBB.

    BLP rating got downgraded 3 time and upgrade one in their 9 year spread. dlp got downgraded 3 times in their 3 years. We can all give proper analysis to ratings that have been claimed.

  38. But scout, touch one touch all is nonsense.

    How has Francis been touched? Is disagreeing with him and trying to rubbish his views touching him. That is par for the course.

  39. @ Old school

    You wrote: “Methinks you and others protest too much when yu take strong and critical positions and encounter a robust response.”

    You obviously do not know this man. Please speak of others, I have long learnt to give and to receive criticisms. I have no qualms about being involved in intellectual scrimmage. However, I sit and wonder how many of you out there believe that the persons on the morning after the budgetary presentation was delivered would have “done any intent study of the budget.” It is fallacious to see the next morning discussions as anything more than preliminary takes or readings of the budget. Of course, one may, as I did, seek to find central themes and general directions and give assertive opinions based on those things that also cover previous budgets and pronouncements. All in all, there is no doubt that much thought went into the budget hence the ‘safe’ political emphasis rather than a budget that deals with the specific realities of the day. As time passes and measures begin to be implemented, the significance of the budget would be revealed; it did not address the economic woes current or that are likely to challenge the government in the near future but it did give the DLP some breathing room to re-position for the next general election in Barbados. Plain and simple!
    By the way, please check the ratio of 3 in 9 and compare with 3 in 3. On the present trend, Barbados may yet face further downgrades before the life of this Parliament has ended.

    • @George

      I have no qualms about being involved in intellectual scrimmage

      By the way, please check the ratio of 3 in 9 and compare with 3 in 3. On the present trend, Barbados may yet face further downgrades before the life of this Parliament has ended.

      The two extracts taken from your last comment smacks a little of intellectual dishonesty.

  40. @ David

    Please indicate to me in what way and I may seek to clarify.
    For starters, I give and I do take; I attempt not to get personal but deal with issues. I am never so blind as to say that we speak on social and political things without having some bias which may be entirely part of our socialisation.
    On the second point; I made direct reference to details provided in the previous post citing those figures as a justification. What I did invite the writer to do was to understand that if the basis of those figures are used to make one point, clearly there is an alternative presentation of the same facts that lead to a different conclusion.
    Please David; show me where either statement appear to be dishonest or even deceptive. I shall call a spade a spade, and I will discuss matters on the evidence.
    In fact, it is the Central Bank’s own view, it is the concerns selectively alluded to by the Minister of Finance and the Leader of the Opposition, that would suggest Barbados is not out of the woods with all of the uncertainties in the UK, USA, and Europe even to the extent of challenging growth in China that may still have devastating impact on the country to make a definitive turn around. Hence, there is a trend that is noted by both Moody’s and Standard & Poors that inability to curb the fiscal problems may lead to further reasons for downgrading.
    As far as I am concerned, while I wish no such thing for Barbados, there are trends and possibilities for which we must keep at the forefront. My delivery was simple; it was honest; and it got your attention. Let us see what others say whilst I await your evidence of intellectual dishonesty. Cheers my friend, and I do not mind the challenge, all part of keeping a robust and worthy debate going.

    • @George

      The reference had to do with the DLP having to manage an economy in an unprecedented global economic environment.

  41. @David,

    Okay, but I do concede that that there are difficulties for managing the economy and that there may be no right way given the forces beyond our control. However, there are things that this government needs to focus upon, and must expound upon in order to ensure that we do cope and take advantage of those forces that are within our control.
    Tell me, how many references in the budget did you hear reflecting upon the Central Bank’s concern with the extravagant discounting going on in tourism; or with initiatives to spur domestic spending whilst seeking to dampen the propinquity for imports? What references would you say would have directly addressed the reduction of the deficit while at the same time bringing about enhanced productivity in all the key sectors of the economy?
    I may be a political enthusiast more than an economic forecaster, but my reading of the situation tells me that there were severe postponements for anything definitive to deal with the real challenges faced by the Barbadian economy. In fact, if you delve deeper into Mr. Sincker’s presentation, you are likely to come to a conclusion that this is another budget that sets Barbados in a holding pattern beyond cosmetic changes which seemed more determine not to raise new taxes or excite new projects that may call for capital expenditure rather than looking to stimulate real growth and productive capacity in tourism, international business, off-shore financial sector, or indeed the international telecommunications and technological services. In short, and as I have said, it is a promissory budget that seeks to maintain hope rather than inspire and invigorate growth and capital.

    • @George

      Let us cut to the meat of the matter, we don’t have any thing to sell to earn our way and consequently an over reliance on tourism and the related international business.

      The last government fueled construction to drive the economy which has a correlation with forex outflow you have to admit.

      The government has preferred to take a conservative approach in uncertain times to protect the foreign reserves, you may disagree but that is its strategy.

  42. One of the problem with just using the S&P rating is they came in in 1999 at top of economic recovery from the recession in the 1990s so not much upgrades but after the 2000 the debt increased so ratings where lowered . as comparison with moody who did the foreign longer but local much shorter which shows the increases done for foreign,
    foreign local
    Barbados 12/05/1994 Ba2 Barbados 12/09/2002 A3
    04/18/1997 Ba1 10/13/2009 Baa2
    02/08/2000 Baa2 06/13/2011 Baa3
    10/13/2009 Baa3
    with moody they where 2 upgrade in foreign during the 14 year term while in 2 year there been 2 downgrade in the 3 year term. Anything below a Baa3 is below investment grade for moody. so until 2000 for foreign we had junk bond status.

  43. How credible is either S&P or Moody’s? Are these not the same two Institutions that are under investigation by the Justice Dept in the USA?

  44. many institutions have been under investigations. while their mortgage mess may have start the melt down their sovereign ratings are still pretty reliable.. If they need to followed is another discussion,

  45. The value of a Budget can only be measured when the policies are implemented. We know of the tax increases, constituency councils, camps, free bus fares and NHC units. What about other Budget announcements?
    Here is a sample of the 2008 Budget:
    1. On the matters of openness and transparency, I am pleased to announce that the Governance Advisory Board….is working assiduously on developing a new regime of governance in Barbados. It will, with the assistance of Legal Advisor, Professor Dr. Albert Fiadjoe, former Dean of the Faculty of Law and internationally respected administrative law expert, prepare draft legislation in the following areas: Integrity (to include declaration of Assets by public officials, and a Code of Conduct for Ministers; Defamation; Freedom of Information; New Constitutional provisions to rationalize the powers of the Prime Minister. In addition, it will advise on a comprehensive public education programme on matters of good governance. The Board will also address matters of the Role of the Ombudsman and a Contractor General. It is proposed that draft legislation will be completed by the end of this calendar year.
    2. It is proposed to amend the Student Revolving Loan Fund legislation to permit: Annual loans up to BDS$100,000 over four years; Repayment of the loan over 30 years and provision for prepayment of the loan without a prepayment penalty; Interest at 1.5% over the savings rate, being in current terms 6% per annum; Removal of the need for sureties in the event that a charge on property is taken; A grace period on principal and interest for the full time of the student’s studies and for two years thereafter.
    3. Government has already identified over 500 lots in existing tenantries, which it will be acquiring for sale to first time home owners at $5.00 per square foot. The services are already there and the only additional issues are acquisition, surveying and the legal arrangements for conveying the land.
    4. In the meantime, Cabinet has agreed to the expansion of the QEH on its present site estimated to cost over $400 million and we have also begun to identify funding for this upgrade and expansion. The Barbados Government owns a substantial number of shares…… The proceeds of these sales will be used to fund part of the upgrading and expansion of the QEH.
    5. We will also over the next two years prepare the Barbados Water Authority to submit itself to the rigours of accountability under the Fair Trading Commission, so that water and sewerage charges may be determined at levels that are fair to consumers and the Barbados Water Authority alike, and remove the huge burden that Government now carries in subsidizing water and sewerage rates for all persons in the society.
    6. The Tourism Development Act will also be amended to provide a gradation of concessions to be granted to tourism-related investments on the basis of the local value added that accrues to Barbados from those tourism-related investments.
    7. Alongside these developments will be the establishment of a number of marinas to attract yachts, as well as construction of a number of jetties in fishing villages on the east and south coasts with the necessary facilities to encourage the development of the boating industry.
    8. Specifically, government will pursue: the construction of a terminal for private jets in north of island; the building a new cruise ship pier and facility in the north of our island to reduce congestion at Bridgetown Port;
    9. We wish to get visitors to Barbados to spend more in our retail establishments by expanding our duty free shopping scheme.
    10. More urgency will be placed on the negotiation of additional double taxation treaties and bilateral investment treaties between Barbados and other countries. Particular emphasis will be placed on negotiations with the countries of Latin America and Asia so that we have a network of treaties that straddles all major countries and positions us to compete with jurisdictions that have an extensive network of double taxation treaties.
    11. The BAMC’s modern food producing assets will be leased and some of BADMC’s food storage, handling and distribution will be franchised to progressive small farmers and business persons.
    12. For this fiscal year, Government will guarantee loans to a total amount of $15 million to BAMC and BADC to provide an additional 10 acres of greenhouse, shadehouse, tunnels, irrigation systems for modern agriculture and for packing houses and systems, cooling rooms and vehicles for transporting produce.
    13. An Agricultural Protection Bill is being drafted which will protect large areas of agricultural land and require the approval of parliament for the change of use of land areas of over 100 acres.
    14. Additionally, government will, in response to the request of the Wayside Vendors Association, identify a plantation to make available to the Association to undertake a pilot project for the production of vegetables for sale by members.
    15. In order to encourage persons to make the necessary investment for modern agriculture and to protect this investment, we believe that farmers should get their incentives up front when they purchase items rather than have to wait on a duty rebate scheme.
    16. The Government will be establishing a Pilot Project involving about thirty (30) farmers selected from among those in the BADMC’s irrigation districts across Barbados at a cost of $300,000.00. This Project will assist in demonstrating the efficient use of tensionmetres, which can assist farmers in determining the optimum moisture level for the soil, thus reducing water wastage.
    17. Government will guarantee a loan for the financing of a $16 million project for Drainage and Irrigation Water Storage conducted at the River Plantation by the BADMC.
    18. The annual subvention currently provided to the 4-H organisation will be increased from $100,000.00 to $200, 000.00 per year. This increase is expected to ensure that there is at least one 4-H club in every constituency.
    19. Work on the waste-to-energy complex at Vaucluse should commence within a year and will provide between 6 and 8 megawatts of power to the grid, when commissioned.

    How many have been implemented?

    • This is what Barbados one legged economy is competing against in one of our key source markets.

      UK agencies offering almost free holidays
      Font Size: Larger|Smaller
      Wednesday, August 17, 2011
      ISTANBUL- Hürriyet Daily News

      Some leading United Kingdom tour agencies are offering 2 pound per night accommodation at hotels on Turkey’s Aegean coasts during the country’s low season. Hürriyet photo
      As nearly 2 million British delayed their vacation due to the economic crisis, leading British tourism agencies, including Thomas Cook, created new holiday packages that cost less than 2 pounds per night on Turkish shores, the agencies announced on their official websites on Monday.
      “This is a serious market strategy,” Osman Ayık, board member of the Turkish Hotels Federation, or TÜROFED, said to Hürriyet Daily News on Wednesday, noting that many British tour operators recently started dealing with Turkish hotels for such promotional packages. Joe, an Irish tourism agency also offered tour packages for 2 pounds per night in hotels in Dalaman, one of Turkey’s popular touristic destinations in the Mediterranean region, daily Sabah said on Tuesday.
      Hotels may lose money

  46. well let see 1 not done ,2 not done, 3 unfinished, 4 not done, 5 not done, 6 not done, 7 not done, 8 not done, 9 not done, 10 ,11,12 not sure about these, 13 not done, 14 not done, 15,16,17,18 not sure if it been implemented, 19 not done

  47. Old School
    It was not me that said “touch one, touch all”, this was reported as said by one of his colleagues, Pro. Michael Howard, since then another UWI economist came out in support of Dr Francis.


  49. David | August 21, 2011 at 8:52 AM |
    “This is what Barbados one legged economy is competing against in one of our key source markets.”

    Barbados will still continue to get a share of the market. Competition should put the heat on David Rice and the BTA posse to come up with the kind of AD campaigns to keep the Tourists coming.

  50. when will there be a poll from the Nation or some other entity?

    i think barbadians are unsure as to who they should vote for

  51. In today’s Advocate Business Section the Brian Francis chap is quoted saying St. Lucia, Trinidad and Cuba are outperforming rest of Caribbean and doing very well. He said Barbados is doing poorly. It made me research a few key indicators on those countries leading to the conclusion Francis is a liar a fool or both. St. Lucia’s unemployment rate is 17% and climbing. Trinidad with its Billion Dollars Heritage Fund now declared a state of emergency against reality of the calypso island about to claim the dubious honour of murder capital of the world. Cuba is a communist state with a command economy no one is certain what is happening there except we hear the Castro brothers pronouncing the economy is so bad they are allowing capitalists businesses to start.
    Barbados unemployment rate is 10% and falling. Barbados economy buffetted by recession is still growing by 2 and a half percent.
    Will guru Michael Howard and the Cave Hill school of Economics explain what Francis is saying.

  52. Someone called me this morning and asked to to listen in on the 100.7 F.M call-in programme, I could not believe hearing government “analyst” advocating and supporting government’s purchasing of school materials from overseas. The reasons given by Peter Wickham is the same reason the former government gave and was condemned by this present government. How can manufacturing in this country improve if governments are paying lip service to the industry

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