Submitted by Old Onions Bag
How many more pleas must go unanswered? How much longer must we furl deaf ears? It should be a foregone conclusion by now that the present Barbados economy is about to stall, flat line even, if something drastic is not done by the current administration to revive the patient, who being in the ICU for sometime now, will soon be at a point of no return.
Barbados is in need of a stimulus injection to restart commercial activity and encourage consumers to spend. Not a $600 million stimuli towards capital projects and public works that will inevitable once more find its way feeding certain “big guts horse,’ but a package that will see the now sleeping money multiplier re-engaged. What’s the sense in commercial activity staggering while boasting of lush green pastures of 16 weeks in foreign reserves on the other end?
Common sense must be exercised while being frugal, given desperate opportunity cash is needed in circulation to kick start the economy. Was it not the President of the BCCI Mr. Lalu Vaswani during a recent pixel, who renewed the disinter call for the removal of a now arguable 2.5 % increase Vat? His rationale as with many others …. once short term taxation has become regressive, it must be removed, in hope of re-gearing consumer spending power and encouraging employers to re-hire.
When construction magnate COW Williams has indicated that even his wages bill is not inexhaustible, and workers must be trimmed, when many small business premises in Bridgetown are closing daily (dropping like flies) and landlords are being accused of festering exorbitant rent, then is the time to reconsider your Medium Term Fiscal Plan (MTFP. Is it really working?
To repudiate courts certain folly and does nothing but become dogma and infuriate the situation even more. It is time to take off the blinkers and be more receptive. We are not sitting it out as some would have it, but more like awaiting an inevitable avalanche. Time to take evasive action is now.