209 thoughts on “Review of Barbados’ Economic Performance January to June 2013

  1. All of the economic indicators are trending south just as BU has predicted. The curry approaches/strategies continue not to work despite the Governor’s unbridled optimism.

  2. The behaviour of this governor has gone past comprehension. How on earth he could spin the awful evidence before him is beyond words, beyond believability. All the indicators point south and instead of telling like it is, he spins for this government. When the reality hits the Barbados people, “riots” will break out about here and then we will see how true Ronald Jones’ words were……….crack some heads and shoot some people!

  3. Give Dr.Worrell a break will ya……I see nothing wrong with presenting things the way you see them….. BESIDES who got the PhD you or he?If he saw things as STABLE even up to the last 3 months who are you all to say different. Are you all aware how quickly these things can change affa an elections?
    Who F_ing well robbing this train doa…you or Jesse?…Wanna MADD?

  4. Part of this article was taken from Google news
    IMF scales back world growth forecasts for 2013-14

    A recession in the 17 countries that use the euro currency is shaping up to be deeper than expected, another factor pulling down the forecast, the IMF said. The Eurozone is now expected to contract by 0.6% this year, compared to the April forecast for a 0.4% decline.

    To say one thing about Barbados and discount all other factors that are impacting on us involves a certain level of intellectual dishonesty.

    One of those countries in the Eurozone is Great Britain our biggest tourist market.
    Just bringing some perspective of what is happening in the world

  5. I am not impressed with this GOCB.He is too biased and has a fetish for playing with small cars like a little child does.He will tell PM Stuart everything he thinks he wants to hear other than the plain truth.As for the buffoon Sinckler,the least said the better.It’s plain to see Buhbaydus economy has gone south and might not be back.Let’s get out the marching boots,guys and dolls!

  6. I maintain the biggest economic damper was the raising of VAT. Choosing to increase the already burdensome tax regime to cover governments cost rather than try to reduce spending (wastage) has been the deathblow to commercial activity in almost every area of the economy beside Jada and Preconco of course.

  7. David
    Those countries have economist too and they plan but no economist will get the world out of this mess until unsustainable living stops.

  8. At least he stands up and gives a report on a regular basis. That’s more than Fumble does.

    • @Clone

      Then one must wonder why both political parties year after year in the last 6 years have been making these pie in pie promises.

    • @Pacha
      You are on the right track but the required change calls for a massive change in attitudes, a change in the social culture i.e. a change in how we think. The problem we have now is that there is the expectation we can implement policies to lead us back to the halcyon period of the 90s and early 00s. It will take rubble for us to see the phoenix.
      @Bush Tea
      What you suggest will not happen because Barbados is a distributive/ retail economy. To do as you suggest will see massive employment contraction and by extension same must occur in the public sector because it is the taxes from private sector which pays the army of occupation. Remember the public sector facilitates the private sector.The economy has stalled as BU predicted it would.
      Even although all the indicators are pointing south we have public sector union talking about wage increases. This comes back to the need to rework attitudes. If the government had a big mandate it could force change but with a narrow majority the political expediency game continues.


    look for VAT to reach the USA and Canada rates , for the fool feel if we work in the states and other places, then we can pay the same rates at home,
    It will keep going and they will keep spending. GODS to repeat the same mess , If the Americans buy that mess that means they can feed it to us, Trash man just got 2.5% more and the trash pick up is less, nothing gets better with more taxes,
    No VAT in Suriname?

  10. Can the Governor explain why he thinks “reducing spending in
    the economy” could ever lead to growth? What spending is he talking about? Government expenditure or private expenditure?. God help us if he thinks we can take more taxes. It seems like the strategy is to grind Bajans into the ground to stop them spending, while praying for a miracle in the tourism (and renewables) sector. Not really very sensible. If that is it from him, bring on the IMF.

  11. @ Prodigal Son…Relax yaself man,we are too matured a people to engage in any riot.If it came down to it this government would gracefully bow out before it came to such.You guys keep hanging on to the idiotic rantings of Ronald Jones as if jack ass comments by government ministers is something new to Barbados.Man try and relax and enjoy crop over.

  12. Ease up on the Governor doh! Wunnah all know CB Governors are all Creatures of the Minister of Finance. What do you expect the creature of this current MoF to do? Say that things are going south? I suspect that the figures he gives us are all themselves as accurate as he can make them (I remember when he changed the methodology for collecting the Employment figures to make them more believable. There doesn’t appear to be any similar sleigh of hand here).

    But note that in the Consultation report last week he indicated something to the effect that earlier efforts to reduce Expenditure had not been successful. It is not the GCB’s job to implement policy or strategy. That comes under the purview of the Minister. This Governor is clearly setting out to differentiate his role from that of the Minister while still remaining his creature.

    But it looks like we in trouble. It seems to me that the one and main prerequisite for us to come out of this situation is for most of the relevant actors in the strategies for improving the economy to have confidence in the Government and the main Institutions involved in Economic policy. That does not seem to be now so and hardly anyone seems to be factoring this elephant in the room into the numerous prescriptions for turning around the economy.

    In the meantime we get pretty words but frightening numbers, especially for the uninitiated like me.

    Is there hope in the current system or is a drastic revamping necessary?

  13. maybe the mOF should consider stimulating the economy through the reduction of income tax across the board short term in an effort stimulate the economy. as now investment has been at a standstill, the Vat has reached its peak and bottom out since peoples income in most cases might have stagnant or declined causing them to reduce spending which has negatively impacted vat from the previous years, slow spending and high unemployment complicated by lower wages is another factor contributing to even further decline in growth at a faster rate than govt expected . as I see right now keeping the vat in place but cutting individuals income tax across the board,maybe the way to go short term to accelerate growth through individual spending. the govt has its work cut out but I am positive that they can pull it through.

  14. here is another jackass name bus driver who don’t understand what the govt meant in his recommendation “to cut spending ” yet he can pontificate on how dumb the Gov is LOL. I recommend that Bus Driver seek legal counsel from CASWELL

  15. BU? Bajans just amaze me. It’s simple >>

    The GOCB mislead the Bajan electorate before the election in support of the DLP, now that he is up for reappointment he wants to come clean just before the economy totally tanks, and DLP supporters on this blog still continue to defend the incompetence of the GOCB and the current DLP administration. Have we not been MISLEAD enuff…

    At what point will DLP supporters start to put country first in there thinking … is it when there is a run on our banks as occurred in the U.S great depression.

    While other Caribbean nations are making progress in these challenging times (like St.Lucia) by reinventing themselves as needed, we here is Barbados continue to use the global recession as an excuse to do nothing on how to best re-position our economy … this has now become pure national insanity.

    This news from the CBB is clear proof of the continued failure of the current DLP administration. To continue to support incompetence is simply selfish, insane and does not reflect the many painful realities of bajan families.

    However I know that many DLP supporters now starting to get it, unfortunately its too late …. We are in deep as a nation with 4 long years to go with an missing in action PM and the worst set of DLP ministers EVER.

    It’s time to pray for Beautiful Barbados.

  16. I forgot to mention above that I think that the current situation requires the following actions for any significant turnaround.
    1) Developing strategies to rebuild the country’s confidence in the players who direct the economy
    2) recognition that a total reconstruction of several Government Ministries and privatization of several of their functions is now necessary
    3) Drastic reductions in the number of MInistries.
    4) Rationalization of a number of Statutory Organizations
    5) Zero Budgeting as a standard budgeting methodology.
    6) Adapting and adopting the good aspects of some systems used by some of our neighbours to combat situations similar to those we are now experiencing.

    This prescription obviously needs a lot of work, but you get the idea.

  17. @ Check-it out
    As man Check-it, you must know that the VERY BEST approach to bringing a level of stability to the Barbados economy will be to completely reverse the idiotic acceptance of the globalization policies that were imposed on our world by the G8 thugs in the hope of turning the world into their own personal dumping ground.

    LOL they are now trying to dig themselves out of their own well – since the Asian tigers turned tables on them and turned THEM into dumping grounds for cheap exports. LOL Ha Oh Shirt!!!

    But serious, our brass bowl leaders started digging this hole when they accepted that “free market” nonsense push at them…..why don’t we now take some creative steps such as:
    1 – Reduce VAT to 5%
    2 – impose massive IMPORT DUTIES in the order of 1000% on luxury items to a minimum of 200% on other non essentials (like most shoite food items)
    3 – Ban ALL imports of vehicles except for replacement of units over 20 years old, and ONLY by approved energy efficient units.
    4 – Full annual road taxes to be payable on all vehicles by the last owner, until it is officially scrapped and properly disposed of.
    5 – 50% discount on all land taxes where a current certificate of compliance with NCC beautification standards is presented.
    6 – 100% discount on all land taxes for all farmers earning more than 1% of the value (of their total land) in profits on produce during the year.
    7 – 20% annual land tax rates for all properties blocking windows to the sea along any coastline.

    This shirt is soooooo easy! 🙂 …..in five years Singapore leaders would be coming here to learn how to plan national development Ha Ha LOL..

  18. @AC

    You killing me… When the BLP suggested we do as you state “reduce tax rates” in order to “put money back in people’s pockets” BACK in February …. DLP supports like you said it was a bad idea … Now you blog on BU in support of the approach.

    That sir is classic ” a day late and dollar short ” … furthermore name one positive and significant thing that the MOF has done for the economy, which history will show he has wrecked with the PM …. Current government pull what off please ….

    Sell crazy on some other blog, and stop drinking the election coolaid …. your responses put me in mind of the kind of incompetence civil service mindset the GOCB referenced in the announcement today.

    Stop the nonsense … Put Barbados First …. Stop participating in misleading the bajan people.

  19. Given the structure of the Barbados economy, growth from local tax reduction will increase imports and forex outflows. Arthur and team suggested that we use the reserves to stimulate domestic spending, I wonder what the outcome of that policy prescription would have been.

    Why are private inflows down? Is it primarily confidence, the effects of the european recession or a somewhat inevitable slowdown in the real estate market? Maybe there are other causes?

    There was an 8% increase in new international business registrations but a 14% decline in renewals. Thats a bit confusing to me, it would be good to develop an understanding of the underlying issues.

  20. @Bush Tea

    I get where you are going …. but as a realist the current DLP administration does not have the intellectual capacity to address simply reforms.

  21. I have been somewhat bemused by the arguments about the “wonderful” performance of the St. lucia economy. The 2013 IMF article 4 consultation reports a 0.4 decline in gdp for 2013, an inflation rate of 6.6%, a deficit of 11.9% and a projected deficit of 9.4% for this year.

    Executive Board Assessment

    The Executive Directors noted that St. Lucia’s economy has suffered from a weak global environment and external shocks. The outlook remains challenging, and vulnerabilities have built up in the fiscal, financial, and external sectors. Directors welcomed the authorities’ commitment to address these vulnerabilities, and underscored the need for prompt and resolute action.

    Directors agreed that the main policy imperative is to address the fiscal imbalances and set debt on a sustainable path. They urged the authorities to start consolidation without delay, while minimizing the negative impact on growth. In this regard, they recommended focusing the adjustment on current spending, including wages and subsidies, while protecting productive investments and targeted social spending. Wage agreements should be consistent with fiscal and economic fundamentals. Directors welcomed the introduction of the value-added tax and underscored the need to protect its base. They saw scope to further widen the tax base by reducing tax incentives and exemptions.

  22. @Observer

    “There was an 8% increase in new international business registrations but a 14% decline in renewals. Thats a bit confusing to me, it would be good to develop an understanding of the underlying issues.”

    It called playing with numbers or spin … truth >> “there was a decline in international business registrations about 6% at the end of the day. But to say that in straight English could be viewed negatively by potential new international business inventors … so here comes the CBB spin mastering.

  23. Austin that was not the right time . there was a need to sustain and preserve foreign reserves while at the same time sustaining growth at a reasonable level which not been done at such a time would have caused rapid erosion in foreign reserves and faster decline in what little economic growth was fueling the economic .. well now we have entered another phase at a faster and rapid rate through lack of disposable income flowing into the economy which have stagnated economic growth which translates to slow or insignificant spending insufficient to maintain the economy. NOW is the time that the govt should bit the bullet short term and release some monetary funding into the hands of consumers , it might help short term but however it is not a silver bullet, the silver bullet lies in the ability of govt being able to grab hold and wrestled import bills and energy cost lost term combined with other measures the Gov; suggested.

  24. St.Lucia is doing one thing that Barbados is not …. They are using their god given brains to innovate and come us with ideas to strengthen there economy which is working. We in Barbados are playing with numbers to mislead the public which takes lots of energy to keep track of.

    But forget about St.Lucia .. lets get our house in order by first recognizing we have a ineffective government, we still nationally cant seem to get there and are still playing party politics with the future of our nation.

  25. I think we all mean well for barbados.

    I think its a huge error to focus on the dlp and the central bank governor and overlook the underlying issues in our economy.

    We had a decade long real estate boom fuelled by foreign buyers. Is that game now over and if so how do we fill it?

    We rightly focus on business facilitation but is the International business sector fatally wounded by the chnages in the canadian tax laws which undermine barbados in particular and the anti-tax avoidance stance in the g8 generally. If so how do we fill the void in forex and tax revenues?

  26. The medium term development plan is a starting document as we try to build out a new economy for a new environment. I had rather hoped for some more constructive comment on the “Draft” document.

    I actually wished the BLP had won the last election so we could hopefully get that issue out the way and maybe then focus on some of the deeper issues.

  27. I disagree with your thinking as you clearly sound like someone from the MOF School of Economics (so smart we foolish). It is always better for the public to spend money as an economic booster then for governments to do so. Holding on to foreign reserves with no real economic growth strategy that actually works only delays the crash that Barbados is facing and makes the whole in the ground when we hit deeper.

  28. Lets deal with facts. the st. lucia economy is plagued with the same growth and fiscal deficit issues as barbados. their fiscal deficit is actually worse.

  29. Bush Tea;

    Nice as usual, But my Mother often said that when one’s hand is in the Lion’s mouth, ease it out.

    I note that none of your prescriptions are meant to be workable in the current environment. Therefore to at least try some of them, requires a total revamping of our Governmental and Private Sector system. This probably translates to your BBE setting the stage in a possibly cataclysmic way prior to the implementation of a system in which your prescriptions would stand a chance of being implementable.

    In other words; Cataclysmic situation; People erupt and run the present Government, Opposition, Cabinet, Public Servants, yardfowl of various stripes, toute monde backai out of the Island, along with all the monied Private sector people. Leaving only the Bushmen; a few old people and some strong energetic Rasta types here to put together the brave new world. Properties left here would be protected by a loyal police force for the new owners, Deeds, Since he would have the dedds for all of them.

    VAT could then be eliminated completely.
    A list of luxury import items could be drawn up by the Bushmen who now run the country and the 1000% import duties placed on them. In short order none of these items will be brought in.
    An outright ban would be placed on all food imports. Everyone will go back to yams and eddoes, etc.
    Ban import of all vehicles. Let our Mechanical Engineers provide the population with our home grown vehicles; Souped up Solar vehicles.
    Etc. Etc. Yuh see how uh going.

    Tourists will flock here in droves to see how we survive, nay thrive, in this new system

    Barbados is beautiful, a gem in the Caribbean sea.

  30. Well we can agree to disagree austin. the best evidence says that every dollar spent in bim results in a leakage of at least 75 cents of forex.

    what would the public spned the money on that would not use forex. the point is that if you want to maintain your fixed exchange rate you need adequate reserves and growing the economy from domestic consumption leaks forex.

  31. Austin; Your explanation for the way the changes in International Business Registrations seems not quite believable. Surely it would make more sense and be more attractive to a potential new International Business registrant if he were simply told there was a 6% increase in registrants rather than the spelling out of a 8% decrease in registrations and a 14% increase in new registrants. The potential registrant would most likely be inclined to try to find out why the old registrants were leaving.

    The GOCB would be smarter than that. The data as presented begs further questioning by potential registrants. Or are you saying that the Governor and some of his staff dropped the ball here.

  32. yes austin that works well in an economy that is not undergoing the undue stress and shocks tied to global economies plus having to service heavy debt, firstly we had to get what was the most important order of the day back up and running that being our foreign reserves ,also you must note that part of our ability to borrow also hinges on our foreign reserves which was depleted at that time and to reinforce my point which also in part lead to our downgrading as the credit rating suggested that our economy would not have been able to sustain adequate amount of foreign reserves; therefore the need to maintain sufficient or adequate forex must have weighed heavily on the minds of govt; in addition if need arises for us to borrow in an emergency we could use them as leverage. plus growth around that time was sustaining itself at a reasonable rate even with a slower economy so the need to put money in the consumer hand would not have accomplished both objects at that time, taking those mitigating factors into mind such was a deciding factor for not implementing what OSA had suggested,

  33. “what would the public spend the money on that would not use
    So are you suggesting that we are so useless and lacking in ability and creativity that we can do no better than import and resell? If some of these subsidized, poor rakey, so-called food items were completely banned or penalized with duties like in the old days, don’t you think that local manufacturers could step in and create competing products?
    If the Japanese can create a whole industry by completely reconditioning cars every three years….don’t you think that we could encourage a similar market and industry here too….rather than sending our scarce forex to Japan to buy THEIR reconditioned cars…?

    Oh Ye of little faith Check-it…. 🙂

  34. even though I need to agree with what you say observer about leakage we must take all angles into account and try to stop the leakage in other areas as well. Now is not the time to be storing all your eggs in one basket while the other basket remains empty, the govt must in order to stop the bleeding in growth MUST at this point and time finds a way to release monetary value into the economy short term if not the bubble would burst. right now what I am seeing compared to the last five years is that spending has slowed not so much because of vat but might be due to further unemployment and wage s being freeze and little hiring. there must be a balance . it does not mean that we have to give all at one time but incrementally short term it can worked .

  35. Austin:-

    this one is for you!

    By Melanius Alphonse( a management and development consultant. He is an advocate for community development, social justice, economic freedom and equality; the Lucian People’s Movement (LPM) critic on youth initiative, infrastructure, economic and business development)

    “When governments are faced with economic challenges such as those currently faced in Saint Lucia, one would expect that a coordinated strategy of cutting taxes, the implementation of new incentives for business to hire, thus enabling the middleclass and working family’s to make ends meet; and a reduction of the deficit to enable a return of confidence in the economy!

    However, island states and PARTICULARY SAINT LUCIA, where the economy CONTINUES TO WORSEN, similar measures have hardly been instituted. In fact, with each passing year the economy underperforms.

    And not only does the quality of life suffer, but the effects can be felt in the societal disintegration which is currently taking place throughout the island.

    But wouldn’t it be nice, for once, if the government of Saint Lucia abstained from excessive borrowing, and instead remedied the economic deficiencies with the right social and economic policies? Ever wonder what it would be like to achieve a people-driven economy that no longer takes comfort in government insistence on creating artificial employment?

    Well, if only the government of Saint Lucia is finally able to listen to the cries of desperation coming from the people, along with the pensive, but silent ramblings of disappointment from the business community, perhaps there can be hope for Saint Lucia after all.”

    Now tell me again which St. Lucia are you referring to?

    Even St. Lucians are disillusioned with St. Lucia. Yet somehow you and ADRIAN LOVERIDGE keep referring to a St. Lucia no one can find.

    Where is this ST. LUCIA?

  36. AUSTIN

    In a recent online poll in St. Lucia, St. Lucians were asked by LPM,

    How would you rate Kenny Anthony’s leadership?
    a) An excellent leader
    b) A mediocre leader
    c) A gross failure

    28.16%, voted “excellent” for Kenny Anthony’s leadership abilities; 27.59%, voted “mediocre”; and 44.25%, felt that he had failed as a leader.

    Don’t you read any of this before you come onto this blog to mislead people?

  37. @CCC
    Your point is well made but when is your DLP government going to come to term with a realism that says capitalism is collapsing? The refusal to make this determination leave the country looking to a failed political-economy model for answers. That, is worse than pointing on some other house that is on fire. We know the illness the patient has death is coming soon. Let’s prepare for the hereafter, no?

  38. Some folks will find every possible reason to do NOTHING.

    Your missing the point which is simply… While St.Lucia as a whole still has challenges, their approach to growing their tourism industry (as a key industry) is betting the brakes off is us daily and getting stronger, just by using their brains. While we stand by an make silly comments about them as recently done by our MOT.

    We cant control the global recession but it is the recession of ideas on how best to navigate it that is killing our economic more …. that is the core of the point I’m attempting to make.

  39. As far as we can see Communism as a political-economy model has already failed. That seemed to have happened 20 years ago. This blog will be forever mired within the inbreeding of idiocy so married to a bi-polar construct that there is never the creativity to start thinking about a third, or fourth sets of organizing principles. Kiss yuk pussy ac!

  40. Austin

    Here is another tidbit from St. Lucia

    Taken from the St. Lucia Star newspaper:

    “In an address to the nation on Wednesday, February 27, 2013, the Prime Minister Dr Kenny Anthony indicated that growth in the economy in recent years has been subdued, falling, it is estimated, to a low of -0.6 percent in 2012. Further, he lamented an In an address to the nation on Wednesday, February 27, 2013, the Prime Minister Dr Kenny Anthony indicated that growth in the economy in recent years has been subdued, falling, it is estimated, to a low of -0.6 percent in 2012. Further, he lamented an unemployment rate of 24 percent, reaching an estimated high of 45 percent among our youth in the labour force. With such disheartening statistics, it is not surprising that St Lucia is among seven other Caribbean territories which the Caribbean Development Bank has listed as having a high and unsustainable debt!

    Who and what then is responsible for the status of our country? Who does this slow economic growth inadvertently affect? Based on the statistics from the head of the nation, the rate of unemployment is a grave predicament. What does a low employment rate say about our education system, since it is supposed to prepare its students to make a meaningful contribution to society?”

    Just reading this one sided blog, one would believe that Barbados is the only place on Earth facing challenging times.

    St. Lucia is being PORTRAYED as a place that is doing exceptionally well in the Caribbean, however the TRUTH paints a very different picture.

    Note the words of the PRIME MINISTER of St. Lucia,

    “he lamented an unemployment rate of 24 percent,”
    “reaching an estimated high of 45 percent among our youth in the labour force”

  41. @ Carson C. Cadogan | July 9, 2013 at 10:05 PM |

    When Barbados has reached the stage of comparing itself with “lowly” St. Lucia we know things have really hit rock bottom.

    Imagine Bim once the No.1 developing country in the World is now using what Bajans used to refer to as “low island St. Lucia” as a benchmark for success or failure.
    What has happened to Singapore, Malta, Bermuda Bahamas Cayman Islands, Mauritius, or the Seychelles?

    Are we tacitly preparing Bajans to think along E.C dollar lines?
    Maybe when the dollar is devalued to make it on par or more competitive to the EC dollar then the Helen of the West might just be the jewel in the crown of the sub-region including poor Barbados.

    Where there is mediocre leadership expect to get mediocre performances and negative outcomes.

  42. Pachamama | July 9, 2013 at 10:35 PM |
    Kiss yuk pussy ac!

    U foul mout PERVERT! I hope a crapoo eat uh swibbly balls while u sleep;

  43. @Observer
    ” the best evidence says that every dollar spent in bim results in a leakage of at least 75 cents of forex”

    Can you point to this evidence? this is the “smoking gun” that would really allow objective observing people to see which strategy is better.

    Arthur and co. claim that 70% of economic activity is domestic. who’s right?

    your prescriptions call for an immense amount of balls and massive willpower. Can’t say I’ve seen that lately.


  44. @Carson
    we have to shave off 66 million in 9 months from personal emoluments. Any suggestions?

  45. millertheanunnaki | July 9, 2013 at 10:47 PM

    As usual you jump in to continue with the misinformation.

    Your highly regarded, by the BLP people, “Austin” is the one who seeks to compare Barbados with St. Lucia.

    I was simply pointing out the fact that he was wrong as he always is.

    And by mentioning countries such as Bermuda, Bahamas, Cayman Islands, you are demonstrating to all that you don’t know what you are talking about.

    Mauritius read this:

    “For many years Mauritius has been the darling of both World Bank types and the likes of the Nobel laureate Joseph Stiglitz, who for quite different reasons see it as a model that other small developing countries ought to be copying.

    But Africa’s “miracle economy”, which has undergone a transformation from dependence on sugar exports to export of services such as tourism, financial services and information technology in one generation, is starting to look very vulnerable. In Port Louis, there is now a strong scent of Spain in the air.

    For those who ever get off the beach in Mauritius and look at what is behind the great economic success story, it is more complicated than the Mauritian political and academic elite would have the world believe. The generosity that the international community has foisted on Mauritius makes it unique among African countries. In part as a result of the pessimistic assessment of another Nobel laureate, James Meade, who, at independence, thought Mauritius would be a hopeless basket case, the European Union gave the country a huge sugar quota, which allowed Mauritius to export sugar at two to three times the world price.

    This was offered to several other countries, including Fiji, Jamaica and Guyana, but no one got as big a quota as the 500 000 tonnes offered to Mauritius under the Lomé Convention of 1975. This created huge profits for the country’s largely white sugar barons, or Grand Blanc as they are known in Mauritius. This was equivalent to 5% to 6% of the country’s gross domestic product (GDP) every year.

    Unlike in other countries, such as Jamaica and Fiji, in Mauritius the benefits were accumulated by a few large farmers who then, because of the change in commercial laws ushered in during the 1980s, started investing in tourism and garment factories.

    Not benefiting Africa
    For years, successive EU ambassadors bleated that the reason they wanted to get rid of the Lomé Convention, and the Cotonou Agreement that followed it, was that they did not benefit Africa at all and should be replaced by the now infamous economic partnership agreements, which are free-trade agreements. In fact, Mauritius is proof that transformation occurred in only one African country — precisely where Europe was most generous and where the local elite was not corrupt and did not squander it and permitted viable business to thrive.

    Mauritius also benefited from the United States’s Agricultural Growth and Opportunity Act and was able to export garments duty free. This was helped in the 1990s by Hong Kong Chinese who fled the then British territory, which was being reabsorbed into China, and were readily granted Mauritian residence. This increased the number of the local elite and created a very international and cosmopolitan business character. The shift in the 1990s with the development of export processing zones saw Mauritius move from an agricultural to an industrial exporter in a decade.

    But what is less known is the crucial role India is now playing in the transformation of Mauritius from an industrial to a service exporter. About 42% of India’s foreign direct investment in 2010 came from Mauritius, which is surprising for such a small country. However, this is not all as it appears. Almost all of it is a direct result of a double taxation agreement between India and Mauritius, which exempts Mauritian firms from Indian capital gains tax.

    But the cost of this exemption, provided to Mauritius a long time ago when foreign investment in the Mumbai Stock Exchange was practically impossible, is estimated to be worth at least $600-million a year. Others suggest India loses more. The Indian treasury wants out but the Mauritians are fighting tooth and nail to keep the agreement intact, although they are likely to lose the concession soon — and they know it.”

    Go back to sleep you really need your rest.

  46. @ Pachamama | July 9, 2013 at 10:35 PM |

    You are asking ac to perform another impossible act.
    She is incapable of thinking straight and now you want her to bend over backward to look into the face of another idiot her alter ego of a bald pooch cat called dc (???).
    Leave that to the Bushman to do that for her since he likes playing in the brambles like a true satyr on the loose on Bush Hill; (he is still my hero, though).

    Look ac, it is much more easy for you, given your intellectual pay grade, to continue to blame OSA & the BLP for the economic decline in the last 6 months and its resulting doom and gloom spreading across Barbados than to try to lock horns with the likes of Pachamama. This is not a mythical David and Goliath match but more like an irritating fly around a stallion’s backside that needs to be shooed away with one swash of his tail.

    • And in order to pursue the strategy required there is something called confidence which needs to come back. The private sector has no confidence at the moment in the government’s policies.

    • @Observer

      You sound like an intelligent person and one who moves around. It is generally known that Barbados has loss many offshore businesses to Bermuda, Cayman, Panama for one reason or the other. Many of these businesses generated forex to service their operating accounts etc. Also we forgo taxes.

  47. @ Carson C. Cadogan | July 9, 2013 at 11:15 PM |

    And should whom Barbados compare her vain self with? Bermuda, as you like to refer to ever so often?
    Barbados was once viewed as “singular” island, unique in ever respect. Now we have the idiot Carson contaminating her reputation and encouraging his Destructive Lying Party to put us back into economic and financial serfdom as in 1991/92 when the coming “D” word is announced. DLP will then have a different connotation: The Devalued Lying Party.
    How about that, Carson the carrion boy? If only you could deport me as you would wish to do with Adrian Loveridge!

    The mere fact that you are recommending sleep to the miller is stark confirmation that you can’t sleep either. Why not spend your somnambulant time pondering on what Observing(…) has raised @ | July 9, 2013 at 10:53 PM | .

    To repeat:@Carson
    “we have to shave off 66 million in 9 months from personal emoluments. Any suggestions?”

    BTW Carson, it is not Observer that is raising the query since he will never deal in such specifics. Time for your bed. Your empty brain is getting overloaded.

  48. Miller

    Something else too. No wonder you and Seethru are always referring to Mauritius.

    “Realising just how vulnerable Mauritius is, the government has diversified its economy to take in a host of other sectors. The fastest growing is probably the most risky — the sale and development of real estate for largely foreign buyers, as anyone travelling on Air Mauritius knows from the advertising on board. Former sugar estates and farms are being converted into shopping malls and gated communities at a frenetic pace. It seems fairly obvious to everyone in Mauritius that this is not sustainable and that the country will either run out of good land or prices will collapse. The latter now seems more likely.”

    Note the bit there,”…………the sale and development of real estate for largely foreign buyers”. Mauritius is only 788 Sq. Miles which is a bit bigger than Barbados but already alarm bells are going off with respect to the selling off of Mauritius to foreigners just as was done here in Barbados by the Barbados Labour Party.

  49. How is it that no one points out how many offshore businesses Bermuda and the Cayman Islands have lost?

    I refused to believe that you all don’t know about that!

    • Even if we have a fantastic crop over, and all the signs say not, 3rd quarter will be negative also because we have not seen any decisions to change the current trend. In the mean time our ministers continue to jet set around the world with no evidence of payback.

  50. @ Carson C. Cadogan | July 9, 2013 at 11:46 PM |

    We thought you were asleep, dog?
    Why not tell us about the many offshore businesses lost by Bermuda and Cayman? Is it the 8 % increase in new registrants for Barbados announced by the Governor?

    Why don’t you let sleeping dogs lie? OSA is politically dead why continue to kick the drunken man?
    Now look who is condemning FDI in the form of real estate?
    Isn’t this the same path being promoted by the same DLP aka Devalued Lying Party?

  51. Miller

    I am so glad that you raised the issue of Mauritius.

    It does not suit your purposes at all. I have a lot more to write on your Beloved Mauritius.

  52. @ Carson C. Cadogan | July 10, 2013 at 12:04 AM |

    Forget about your red herring Mauritius for the time being. Let us concentrate on more “pressing” home grown matters like the $400 million cut in public expenditure.
    Observing(…) asked you to help out with the $66 m off personal emoluments that must be achieved in less than 9 months. You have only identified $2 M by getting rid of the Opposition in Parliament.

    Why not start real small and work your way up?
    Why not get rid of that teacher man at the Combermere School who broke his contract of employment and the Public Service Act by appearing as the driver in that DLP sponsored Transport Board anti-privatization Ad?

    You see thattold lady she is going to be the DLP’s nemesis one day coming soon either dead or alive. We shall soon see who will be paying on the buses with a significantly reduced pension income and a devalued dollar to boot.

  53. David
    We refer to your 12:24 post. You are right. Nothing that these politicians are talking about will work. Luckily for us we are not trapped in a mystical island where the mindscape is no bigger than the landscape. They might well come a time where useless eaters who never tire of talking sh’te all the time will have to be cut off, for the remainder of us to survive. These idiots don’t know that so-called democracy came from a place that was no bigger than Barbados. Why is it so impossible for us to be at the vanguard of a new dispensation? They limited intellect petrifies them and acts as a disincentive from venturing into deeper intellectual water. This kind of idiot is popular on the Cave Hill campus too, amongst the ‘intellectual class’ as well.

    We have had three (3) major historical moments of governance. There was serfdom, capitalism and communism. Formal capitalism only dated back to 1776 (circa). Less than 250 years. Why must our point of departure be the assumption that it will always be here. In any event all countries that want to survive should have a wide range of strategic plans to be implemented when the time comes. To do this we have to think futuristically and stop depending on others. For example, we can now expect to have more frequent hurricanes/storms. The engineers tell us that more than 90% of Bajans houses cannot withstand a cat 5 or higher hurricane. What are we doing about this. I’m tired.

    • @Pacha

      To do this we have to think futuristically and stop depending on others. For example, we can now expect to have more frequent hurricanes/storms. The engineers tell us that more than 90% of Bajans houses cannot withstand a cat 5 or higher hurricane. What are we doing about this. I’m tired.

      The engineers do not have to comment on the robustness of the housing stock, ordinary layman observation based on the impact Tomas had on Barbados should suffice. We have a problem not necessarily of thinking out of the box BUT executing/implementing decisions to address the problems. Always points back to leadership.

  54. @ David

    Part of the radical revolution we seek is the destruction of the leadership ethos.They have proved that they are unworthy for the positions they hold. Let’s wipe them out.

  55. Austin | July 9, 2013 at 8:58 PM |


    You killing me… When the BLP suggested we do as you state “reduce tax rates” in order to “put money back in people’s pockets” BACK in February …. DLP supports like you said it was a bad idea … Now you blog on BU in support of the approach.

    I am so sorry my computer was down when you came in here with
    double tongue slime…….I guess now this is what is comin August’s Budget as we all know you as’the forerunner’ …..Well if i so….still thanks for seeing the LIGHT finally after 3 years now…but late and maybe TOO LATE….

    I distinctly remember your attacks on the 4 parachutes of VAT simulation ….retarding the imaginary aircraft” Economy” from lifting off, and you ac spewing ur slime……cuddear…now you all seems to have come full circle…..man wunna is real moojans indeed…..just like plans to rebuy Almond..when all ya could have used the some of the money now sunk in Four seasons to revamp the hotel as was being put forward at the time……Poo upon Poo….Shite has really hit the fan…..!!!!

  56. @ Pachamama,

    No sir, them thar is words of sedition and treason, you meant to say “let us… vote them out completely and “wipe the election slate clean of their names”.

    We is not seditionists.

    BTW when we have completely obliterated their name, who do we plan to replace them with?

    Just asking

  57. @ David
    Bush Tea
    What you suggest will not happen because Barbados is a distributive/ retail economy”
    What distributive/ retail economy what?
    What Bushie said will not happen because Barbados is overly contaminated with amazingly dense and lazy brass bowls who have grown so accustomed to bending over to others to make a living that they think this is the only way to survive.

    Bushie’s suggestion will work perfectly in any society of self-respecting, intelligent and competent citizens. Such citizens will use their creativity to make products that they need, and that others in this world would want to buy.
    They would find a way to add value to the tons of scrap metal that we have imported as vehicles in a small, flat island – by reconditioning, redesigning to be green and Eco friendly, and to utilize solar and other natural forms of energy.

    To be honest with you David. If as you suggest Bajans are unable to do these things, and can only, like prostitutes, sell their natural assets to the highest bidder and buy all their needs from others, THEN OUR ASSES DESERVE TO BE FRIED IN THE COMING SHAKE- UP.

    ….and David, stop bragging that BU predicted our present predicament. ANY IDIOT (with the possible exception of ac 🙂 ) could have predicted such an end for an economy based on borrowing, and on selling asse(t)s.
    Bushie recalls back in the BLP days of billion dollar projects that when the Bushman outlined the inevitable end to be expected, you and MME and others sought to bring Bushie in line….. (The records are still there?…)

    We have reached one of those junctures in history where there will be survival of the fittest…. If Bajans insist on being brass bowls then we will know what to expect…

  58. I am just curious why people expect an improvement in tourism where even after 14 consecutive months of long stay visitor decline our policymakers dismally fail to enact solutions.

    No Tourism Master Plan
    No BTA restructuring
    No current national marketing initiative
    Over 40,000 lost airline seats

    Clearly the status quo is NOT working.

    You have to remember that only last year, predictions were being made that we would see an increase in arrivals driven by projects like Port Ferdinand, Four Seasons and Merricks.

  59. @ piece of the rock
    Bussa was a seditionist, according to your reckoning. So are the founders of the American Empire. Of course, we are talking about all peaceful means necessary. We have said previously that the weapons of non-violence are the best weapons for revolution ever. We hold that view, still. The American constitution however, gives citizens the right through force of arms to remove government not operating in the public’s interests. Most of the world see American ‘democracy’ as the halcyon, no?

  60. @ piece of the rock

    The election of the BLP would just serve as entertainment for a few weeks and put the people on a political merry go round. There is no measurable difference between the BLP and DLP. We say both should be illegal organizations.

  61. @Bush Tea

    The issue has always been in the how and NOT that we have to transform the social and economic landscape of Barbados. And BU never brags about anything, we are all in this together.

  62. @ Bushie
    Of all the people on this blog, we maintain our abiding respect for you critical interventions.

  63. ADRIAN

    You don’t want to try your luck in……am….Mauritius?

    After all that is where all the moneyed British and Chinese in Hong Kong ran to just before your Britain turn Hong Kong back over to its rightful owner, China.

    And I am sure that you know that plenty Apartheid South Africans also moved there setting up their gated communities.

  64. @ Adrian Loveridge | July 10, 2013 at 7:11 AM |
    “You have to remember that only last year, predictions were being made that we would see an increase in arrivals driven by projects like Port Ferdinand, Four Seasons and Merricks.”

    Expect the usual suspects from the George St. vipers’ den of racist venom to come for your “white red” blood.

    Despite all the warnings, despite all the actual outcomes those DLP apologists still want to come on the blog and sing the praises of this administration’s management of the tourism industry and how well Barbados is doing vis-à-vis destinations like poor little St. Lucia.

    Don’t you think that if this country’s PM was a real effective leader he would at least give another minister a shot at the MoT to see if fresh vision and action can inspire confidence and bring some life back into the industry?

    This move would not be a matter of changing horses in mid-stream but one of giving the growingly fat but tired and lacking in vision lead horse a much needed rest. Five going six years are a bit too long in the seat with no results to show.

    This not time for optics and a matter of who would look more presentable to ‘white’ people because of his social background and keen propensity to mimic them. You would know that white people don’t give two hoots about that sort of thing when dealing in business.
    Integrity and competence are what count and only tolerate ‘bullshitters’ in the role of the ugly stupid politician to have a good laugh at.

    Why not send a minister with a more ‘effective’ track record or even buy in one through the Senate?
    Time for a change!

  65. Economies and Political Systems Worldwide Are Being Destroyed By Corruption

    We’ve extensively documented that institutional corruption in the United States has led to a collapse in trust … which is hurting the economy.

    And that the same thing is happening worldwide:

    Voter Turnout Plunges Throughout the Western World … Largely Due to Political Corruption

    Leading Indicators of Revolt in the Middle East and Northern Africa: Corruption, Unemployment and Percentage of Household Money Spent on Food

    Corruption Threatens to Bring Down China and Russia

    Is the Chinese Economy Sputtering for the Same Reasons as the American Economy … Corruption?

    Failing to Prosecute Financial Fraud (i.e. corruption) – On Either Side of the Atlantic – Is Extending Our Economic Crisis

    European and American Governments Encourage Bank Manipulation and Fraud to Cover Up Insolvency (corruption)

    The Meaning of the British Riots (yup, you guessed it … corruption)

    Stunning Crimes of the Big Banks (whole lot of corruption)

    And that corruption has skyrocketed recently.

    Embedded links to above items in the original at:

  66. @ Carson C. Cadogan | July 10, 2013 at 7:54 AM |

    Adrian you see what i told you! Right on cue!
    Nothing to do with what you wrote or the gravamen of the report on the performance of tourism but pure unadulterated racist attacks!

    @ Carson: Just carry on smartly. Soon it will not be Adrian or the miller you will be forced to cuss. Why not start early and start cussing the credit rating agencies and the IMF for forcing Bim to devalue the dollar “invented” by the DLP?

  67. @ David
    We see that above you are calling for the injection of ideas or their discussion. These development plans are built on lies. To us it is like continuing to give a dead man medication in the hope some good could be done (smile). All of these inflationary/deflationary prescriptions have been tried elsewhere and have been dismal failures. In places with vastly more resources than Barbados. We have to go foundational. Until we can ignore the instinct to tinker the dead will remain dead regardless of how much medication we administer. This government is to be indicted for its malicious mis-direction of the people – and all that flows therefrom.

  68. look at your own expenditure observing. you buy a local banks beer and there is significant foreign content.

  69. Onions hold your horses ..i laid out my reasons as to why OSA plan was not feasible at that time and i still believe that giving the state of the economy back then and the drag on foreign reserves especially tourism being hardest hit. retaining foreign reserves should have taken precedant and the measures the govt implemented had work for a while . now it is a new day and a different ball game. anyhow if it makes u feel better to say OSA was right go ahead cause that proves nothing…………….

  70. @obsever
    It usually takes more than a one beer to convince me of anything. Anything else to sip on?

  71. ac still waitingbto hear what that rabble rouser pachaman have as an alternative to the political system and what plans u has in mind to make change m. i dare you to state them and stop holding back the truth .the first step to good goverance is truthfulness .go ahead state your plans for overhaul acompained by revolutionary change u can ask David for help and guidance.

    • @ac

      This situation now is grave and bold and imaginative decisions are required. BU agrees we need to protect the dollar BUT suppressing domestic economic activity in an economy which is retail/distribution oriented will not help our private sector. The sad thing is that both parties have not been able to show that their thinking is aligned with current reality. This includes members of the yardfowl brigade.

  72. ” BU agrees we need to protect the dollar BUT suppressing domestic economic activity in an economy which is retail/distribution oriented will not help our private sector.”

    …so is it not then intuitive to remove barriers to local business activity (reduce/remove VAT) and at the same time BUILD SERIOUS BARRIERS to the import of luxury/non-essentials? ……while encouraging such local business activity as restoration, beautification, food production and energy efficiency….?

    …that is what Bushie has proposed.

    …what great set of balls is needed for such an obvious move? …..the foolish trade agreements that the long procession of ministerial idiots went and signed over the last two decades…? Ha Ha …those are all nothing but jokes now….

  73. David if u read my previous comments u would noted that i clearly stated that a short term initiative would be to cut taxes across the board but leave vat in place .

  74. @Bush Tea

    We have built a global society in the main where individual and institutional values/culture is anchored to consumption behaviour. Where do you think we will get the ‘will’ to take a different path given the disparate positions which prevail six years after the global meltdown.

  75. Well, in the vein of the sci fi series Star Trek, RED ALERT, RED ALERT ECONOMIC COLLAPSE IMMINENT, THE BARBADOS ECONOMY WILL BE DESTROYED IN 1 YEAR!!!!!!. The ship SS BARBADOS under the control of the DLP heading full steam into an economic black hole. What really needs to happen NOW is an economic equivalent to a HARD-TO-PORT but the problem is the crew don’t know what is a port or starboard and the captain like he don’t know how to control a ship.
    I already dismissed the GOCB as a joker because for the past year he sounding like a coolieman trying hard to sell he cheap things when he know they ain’t no good. Only the figures matter, they speak for themselves and they saying LOUD and CLEAR that the DLP must stop TALKING and start DOING as of NOW or the IMF will come and do the talking and DOING for them!!!!
    I now seeing that they got a BGDS draft circulating but any observant economist will notice that the first thing wrong with this document is the title. You can’t possibly start talking about growth without stabilization and addressing the current economic slide occurring right now FIRST. But then again i realize any talk involving stabilizing the Bdos economy is not gonna sound pretty so it may not fit into this economic manifesto which is what this BGDS REALLY is.
    Let us assess the Barbados economic picture as it is. We had 5 yrs of a DLP gov’t with two PMs and two MOFs telling us the global economic climate is the real cause of Bdos’ problems. However by their actions (and now non action) have not tried to compensate but really have amplified the effects of the global recession on poor Barbados to strangle the air out of the economy. So it seems to me the real solution would be to remove THIS Gov’t, but on the last opportunity to do so only 5 months ago ( Feb 2013) we choose to vote them back in.
    Brothers and sisters if there is anything called shite street, that is what Barbados on right now!!!! We vote back in a gov’t that clearly cause this crisis and had a history of creating economic crisis. This is a tragedy in itself!!!!!!!

  76. Didn’t the Governor of the central bank earlier this year or late last year, assured us that Barbados is immune to what is happening outside of Barbados? Didn’t he say that they have put things in place? Stupse anyone who believes what this puppet is saying is absolutely naive.

  77. Adrian we had restructuring at BTA over the period as many overseas staff and some local were sent packing.

  78. Roverp,
    with the greatest respect, I am not talking about window dressing. I am talking about changing the fundamental way we market Barbados. To spend almost $100 million a year, with little or no improvement in arrival numbers for five consecutive years, just cannot continue.
    I agree, the private sector has to do more, but give them the tools to do it (and I don’t mean grants) with a greater influence on how that $100 million is spent.
    Sending a few people home who clearly were not qualified for the job in the first place is NOT the answer.

  79. David wrote:
    “@Bush Tea

    We have built a global society in the main where individual and institutional values/culture is anchored to consumption behaviour. Where do you think we will get the ‘will’ to take a different path given the disparate positions which prevail six years after the global meltdown.”

    David, Your concerns are echoed elsewhere on the web and in a wider context that just our 166 sq mile rock in the ocean.

    Noam Chomsky, Who Owns The Earth?

    Introduced by Paul Craig Roberts (Economist, former Assistant Secretary of the Treasury in the Reagan Administration and a former Associate Editor at the Wall Street Journal)

    In my latest book, The Failure Of Laissez Faire Capitalism And Economic Dissolution of The West: Towards A New Economics For A Full World (Clarity Press, 2013), I emphasize that nature’s capital, not man-made capital, is the limiting factor for life on earth. I learned from ecological economist Herman Daly and others who were able to escape dogma and to think independently that the measure used by economists to measure economic success–the growth of GDP–does not include the most important costs.

    What this means is that economics as presently understood is defective and is leading humanity to its destruction.


    In his commencement address at the American University of Beirut on June 14, 2013, Chomsky makes the point that our planet is our common possession. It does not belong to Monsanto, or to the military/security complex, or to Wall Street, or to the oil, mining, and timber industries. It belongs to life. If we don’t defend it, short-term profit greed will destroy it. Unbridled capitalism means the destruction of the Earth.

    The amount of profits that can be made depends on how much of the cost can be imposed on nature. Therefore, in the world economy where unchecked greed operates, humans with their short-term thinking impose huge costs on nature in order to provide profits for executive bonuses, shareholders, and Wall Street.

    Chomsky’s statement is true that “the Earth now desperately needs defense from impending environmental catastrophe.”

    The question is: are there sufficient rational and literate persons to save Earth? And if such astute people do exist, do they have the power to save Earth from capitalist greed and Washington’s desire for hegemony?

    The question humanity faces is: In the race to destroy the earth, will Washington’s drive for world hegemony result in World War III before capitalist greed pollutes the planet to death?


  80. “…..Where do you think we will get the ‘will’ to take a different path….”
    Honestly David….!?

    Bushie DOES NOT think that we have the will or common sense to take a different path. ….what do you not get about brass bowls? 🙂

    Listening to the ongoing litany of shiite talk about “DLP do this” and “BLP would have done this”…. is proof enough of Bushie’s bajan brass bowl theory….

    All the bushman has done is to point out HOW SIMPLE it would be for intelligent people to respond,even now, to this serious challenge that we face.
    …..however – one understands your difficulty of expecting common sense from brass bowls…..given our history of, and current yard-fowl propensities….

  81. Bottomline, the anxiety being exhibited now is the kind of tension and focus the country should have had for the last four or five years. Politics will kill us.

  82. @ Greenie

    Well Greenie we are not alone. Arguably the greatest mind of the last century agrees with us. This is a subject we discussed with him personally several years ago. More Greenie, more Greenie!

  83. yes why make use of the sun? that would be stupid and shell and Simpson motors. wouldent have his trips to non black countries regularly.yes lets import oil and gas. it is a good thing.solar power,wind power,ocean wave power,
    forget that lets buy from the stinking Arabs and such filth.
    excellent choice.stupid barbados at its height of ignorance.

  84. In the light of this revelation by the Governor of the Central Bank, I had no problem with the private sector calling out workers on Tuesday. The all-clear could have been given lon………g before foolish Adriel Brathwaite did at 11am. A whole day was wasted in a country where productivity is so low and the private sector is suppose to be leading the way to economic recovery. This is part of the leadership, work for every cent gained.

  85. @ GreenMonkey | July 10, 2013 at 10:54 AM |
    “The question is: are there sufficient rational and literate persons to save Earth?”

    I think this question should be phrased a bit differently as follows:
    The question is: are there sufficient rational and literate persons to save themselves and the rest of stupid humans from self-annihilation?

    It is impossible for mankind to destroy or totally lay waste Gaia (and I don’t mean Grantley Adams Int’l Airport). Gaia or Pachamama would eliminate those parasites in less than 100 solar years.

    Mother earth was here before modern self-destructive humans and it will continue after these frail beings temporarily appointed as custodians are removed one way or the other until her Creator is ready to remove this presently third rock from the Sun. Maybe by another larger Sun orbiting planet and certainly in the Omega of its parent star.

  86. @ ac | July 10, 2013 at 8:32 AM |
    “ now it is a new day and a different ball game. anyhow if it makes u feel better to say OSA was right go ahead cause that proves nothing..”
    Are we detecting a major backslide on your part, ac?
    So what do you think will happen when instead of putting more money in people’s pockets according to OSA you want to put the same money in their pockets by reducing income tax? Isn’t six the same of half-dozen?

    And you want VAT to remain? What are you going to say when it moves to 20 or 21% in a few weeks time in a futile attempt to curb consumption in order to protect foreign reserves to maintain the existing parity of the Bajan fast becoming useless dollar?

    Soon we will be hearing from you ac is how fantastic privatization is for the economy since it would stimulate activity in the private sector. And how the country needs to “rationalize’ those statutory corporations and merge some of the central government’s departments and divisions and agencies so if it means make some people redundant then that’s OK.
    Just go ahead like a true DLP weather hen posing as a yardfowl all dressed up in yellow.
    We are awaiting your wind vane to turn in the direction marked: “Way to Privatization in Barbados”.

  87. Miller not detecting any major backslide . not going to put words in my mouth for as far as of present the situation can be tweeted a bit. no miller i have not joined the “doom and gloom club” however with a drop in foreign reserves with a 3weekes defecit i belive that the time is now for more inflow to be oplaced in the economy and the tax cut might be the shortest way forward not a solution but will minimise bleeding.

  88. @ Pachamama | July 10, 2013 at 12:39 PM |

    Do you know, just for the record, that word is a derivative of possibly the longest word in the English dictionary?
    But it is a good word- despite its clerical relevance to Anglican apostasy from the State- to describe a modern day agent of change from capitalism to “Co-operativism” based on Eco principles. Let us call you simply an activist for the coming new world.

  89. Adrian how can you send home people without having an idea if they are working or not? Most of those who were sent home was as a result of their political affiliations.

  90. thereis nothing permanant about aeconomy . it is subjected to change and with change somtimes for the better . but the differnce comes about when necessary change occurs for the benefit of the country and people. .An economy could care less about what is happening individually but it is/incumbent on all leaders to revamp or retool if necessary when challenges arise.If only for better.

  91. @ ac | July 10, 2013 at 12:50 PM |
    “.. and the tax cut might be the shortest way forward not a solution but will minimise bleeding.”

    Are you implying that neither the Governor nor the Minister of Finance knows what they are on about and can’t tell difference between their elbow and their arse?
    How do you think the Governor intends to dampen expenditure to curb spending of forex? By putting more money in Bajans pockets? Come on ac we all know you are as thick as two planks between the ears but you can’t be so outrageously an idiot that Caswell would like us to believe.

    Read my lips: The MoF is planning to announce a range of tax increases and one of them is to increase the VAT rate to 20% or 21%, depending on the outcome of the status of the foreign reserves for July.
    Can you imagine people will be sent home from the public sector with no REDUNDANCY MONEY IN THEIR POCKETS?

    Will Stinkliar be forced to resign from the MoF after this budget? His credibility would have been shot out of the water and no one would want to deal with him after that. Totally damaged goods he will soon be just fit for dumping possibly in the MoA.

    But he can always join the priesthood to fulfill his lifelong ambition to be a man of the cloth after salting away a financial bagatelle (like his fellow garrison boy) from kickbacks while he was MoF.

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