I crave the indulgence of this Honourable Chamber to present this year’s Financial Statement and Budgetary Proposals. I do so Sir mindful of the important responsibility which has been entrusted to your Government to develop policies and craft strategies, both economic and social, to assist with the orderly, holistic and expansive development of this beautiful island of ours.
It is not a responsibility which my colleagues and I take lightly as we are acutely aware that in very many instances the current and even future success of possibly every life in Barbados will be affected in some way by the decisions we take.
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261 responses to “2016 Financial Statement and Budgetary Proposals”
Well Well & Consequences
One has to wonder indeed how many times the government sold the 4 seasons scam.
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Past Zone
The $142 million in taxes imposed yesterday by the Minister of Cruelty has nothing to do with financing healthcare, that is only the camouflage/aesthetic for the pain. What we want to know is who mandated the Minister of Cruelty to impose this tax?
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watchman
@ David
Just asking,this national clean up for the island is very good, its long overdue, but also a means to introduce the garbage trucks that are in the port
The national clean up campaign reminds me that the first order of business for the new DLP government led by EWB in 1961,was the announcement of the notorious Crash Programme at the then Seawell Airport,when big hard back supporters of the party were given temporary jobs “picking up rocks near the runway”.
Not very long ago trucks laden with steel were seen coming out of the Four Seasons site at Paradise,Blackrock.Dare we hope that it has not been another case of “steel in dey”.Commenters can say all they want,the fact remains that 4 Seasons collapsed because of interference by the DLP opposition,the BWU and OSA giving in to bullying by these 2 institutions and agreeing to a manpower audit.Any financing problems would have had to be later and after the DLP took the reins of government to the consternation of overseas based investors in product Barbados,a hitherto investment success story only sullied,soiled and suspended by this inefficient,visionless,clueless,pisspoor,poor rakey cabinet and government led by Barbados’ biggest joker,the 8-4 man.
“…..there will be no economic recovery under Fumbles fools…..FB.”
Jeremy Stephen also said he believes the Government has placed too much confidence in the economy by over-projecting the amounts expected from the 2 per cent levy on imports. The Finance Minister said the levy is expected to raise $142.1 million dollars in additional annual revenue in total but Stephen believes the lack of confidence in the economy will not allow for this.
“It effectively means, especially given how stores and retailers apply VAT in this country, that VAT effectively has risen to 19.5 per cent.
That will come as a shock and I am not sure the economy can absorb it in as long a time as the Minister expects. I think it’s going to be a shortened thing given how dampened confidence is in the economy. I don’t think that the confidence in the economy allows for that additional levy to make the money that they are expecting to make, especially in the first year.”
@ AC
…..the plight of the homeless should be of real concern to you.
+++++++++++++++++++++++++++++++++++++++++++++++++++
It is….
Bajans are on the way to becoming homeless ..
thanks to you and your lot of donkeys and monkeys.
Bushie was merely highlighting for Bajans, the similarities between Stinkliar’s policies and the policies of those among us who are ALREADY homeless…..
Umm is only obvious that if we follow THEIR tactics we will reap THEIR fruits….
…OH SORRY… it may not be obvious to you….
jackass!!!
Lol Artax the “warm up stale soup” where u try to connect Sinckler proposals as same old is not the same as Mia repitions and circular recitations of doom and gloom
Here is why .previously Sinckler had inact a proposal wherby those who could not or refused to pay their taxes would be given a time period to do so or face harsh punishment. Now one year later he decides rather than punished give leniency to them ..which in my mind is symbolic of a govt beliving in the philosophy of a barbados being a society more than an economy
A budget is not about sterile policies, it should infuse confidence In a people.
>
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Artax
“Now one year later he decides rather than punished give leniency to them ..which in my mind is symbolic of a govt believing in the philosophy of a Barbados being a society more than an economy.”
Jeremy Stephen is correct.Vat has now been increased by 2 percentage points to 19.5% .I hope Bajans recall the liar Sinckler said he was increasing vat from 15% to 17.5% for 18 months.One more lie by the damned lying party.
PEOPLE LIKE TO TALK ISSUES, NOT REALIZING THAT THOSE ISSUES HAVE A CAUSE AND EFFECT RESULT…
WE NEED TO EXAMINE THE ROOT CAUSE OF ALL OUR ILLS…
WHAT IN FACT WE ARE WITNESSING BY GOVERNMENT OVERREACH IS THE SLOW PROCESS OF DETERIORATION OF SOCIALISM…
BY LITTLE BY LITTLE THROUGH TAXATION AND BURDENSOME REGULATIONS THE OUTCOME IS TO EVENTUALLY OWN YOU AND EVERYTHING THAT IS YOURS JUST LIKE THE CASTRO AND CHAVEZ A MOST GLARING EXAMPLE…
“Governments make no money they only Spend money, that is why Socialist Governments love Businesses, that way they depend on Entrepreneurs to build businesses and to employ people so that they can TAX them so that they can live HIGH ON THE HOG!
This Elitist in the world, live off the Sweat of others through Taxation and Manipulation.
In Barbados 2/3 of the money collected by Government is paid towards debt and 1/3 is paid to the Government Bureaucracy. Where do you think the 100% comes from? -It comes from off the backs of those working who are mostly oblivious to the amount extracted from them by the numerous forms of Assessments, Duties, Land Tax, NIS taxes, Vat Tax, Road Tax, Licensees, Income Tax, Dividend Tax, Levy’s, and Excise forms of Taxation!
Promises, Promises, Promises… All Politicians do is promise more entitlements and when buying votes its all about Free Stuff. Then you vote them in and you reap the whirlwind, as often times because of careless spending since it’s not their money. 1/3 pays all the Civil Servants and the few amenities that Government provides.
How long do you think that Parasitical Entity can feed off we the people? It depends on the Organism as to how much it feeds. The real aim of Full Blown Socialism is to control every aspect of what others own. It’s aims at Complete Paternalism in Government.
No individual is to own anything. Everything belongs to the state. All properties, utilities, industries, and persons are to be owned by the entire body politic, represented by the government. A good example is what is happening in Venezuela or Barbados… do you own your house? Even after we are deceased our inheritors continue paying Taxes.
What Ripple effects are we witnessing of such Control? The Elitist fatten themselves while everyone else literally starve. The have sucked so much out of their people in Barbados that the host is dying.
We cannot trust a System that is feeding off the people. Socialism is simply governmental ownership and management of the essential means for the production and distribution of goods. That is why Government should be limited to what we the people deem absolutely necessary. Government is supposed to represent and protect the people not Leech off them”!
Tell Me Barbados… Who Are We Going to Vote For B or D …
https://barbadosunderground.wordpress.com/…/tell-me-barbados-who-are-we-going-t…
Jul 24, 2016 – All Politicians do is promise more entitlements and when buying votes its all about Free Stuff. Then you vote them in and you reap the whirlwind …
Sinkler ticked off the ingredients for the DLP political recipe for the elections.
Improve the hospital – catch general citizens
Tempted with the promise of appointment, like the last election, no lay-offs – catch Civil Servants;
Duty Free Zones – catch Middle Class and quieten Big Businesses;
Pension Increase – catch 6000 Pensioners;
50m for small business loans – catch Small Black Man
Temporary, very temporary Debushing Jobs – catch Working Class.
The simple would be tempted to clap their hands, and the politically innocent to applaud their government for a turnaround. Sinkler might have succeeded in his quest to increase the production of fools, if Bajans were not educated enough to deduce the real impact of this Budget.
75% of all economic activity comes from consumption, this budget decreases consumption. The economy and the people will be worse off:
2% DUTY – COST OF LIVING GONE UP TO INCREASE PRESSURES ON PENSIONERS, THE MIDDLE & WORKING CLASSES,
* It is equivalent to an increase on VAT to 20%.
* Supermarket prices will climb, less eating, less health.
* Cost of goods, medicines and services will rise impacting all including the other 36,000 pensioners who got no increase.
DOWNWARD PRESSURE ON SMALL BUSINESSES
*Rising prices means less spending. 50m for business loans is defeated with less spending for existing businesses, far less new ones.
*Duty-free zone draws the dwindling number of consumers from all businesses to the few businesses which have duty-free status. Small businesses will suffer.
PROMISE OF APPOINTMENTS
*Why did they not come with the bill to make those appointments? Hmm they have no money.
*DLP knows ACTUALLY DOING the appointments would significantly increase gov’t expenditure, so it is a promise to ‘look at it’.
The DLP has been the most destructive gov’t to the middle class, blocking the path to social and financial advancement; blocking our children’s hopes and dreams; afflicting pensioners; oppressing the working class and relentlessly squeezing small businesses. After 8 years the DLP still have not learned that you cannot tax your way out of this hole.
This budget is an illusion to catch misguided individuals to help them get a third term.
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Bush Tea
Anyone who seriously believes ANYTHING that Stinkliar says, after his MANY YEARS of blatant public lying…. is FULLY deserving of the consequences.
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Past Zone
Who and or what made the Minister of Cruelty impose this $142 MILLION in additional taxes? I want to know.
Carrot and stick poster is in order , Who run the Walter PPk Blackman from BU?
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Old Baje
@ David & Past Zone
Are you suggesting it was imposed by the IMF?
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Prodigal Son
@ ac August 16, 2016 at 11:02 PM #
expect to hear Mia trying to sneak in one of her dirty tricks to discredit govt on growth initiatives with a warmed overbowl of stale soup on any govt plans having to do with projects going forward
………………………………………………
What happen ac, why it seems as if you are afraid of some kind of revelation today? Brace yourself………..
MAM has used the Budget stage to deliver some well aimed blows in the government of late, at the top of mind there is Cahill and Maloney-who will it be today?
David
The deficit in 08/09 was US198 million or 4.5% GDP.The following year 09/10 the deficit was US356 million or 8% GDP.Sinckler used that almost 100% increase in the deficit to revise upwards by 2.5%,the VAT rate for the first time since its introduction in ’97.
Sinckler is quoted as saying that he saw this proposed increase as a TEMPORARY measure for the next 18 months and he promised further that he would review it at the end of ONE YEAR.The rest is the history of lies,deception,dipsy-doodling and sleight of hand manipulation of statistics and dodging the bullets slung by S&P,Moody and the IMF and here we are in ’16 being fed the same hogwash we have been forced to accept since January ’08.While the grim reaper relieved Bajans of the King of Lies,his hand chosen lieutenant he left to terrorize the economy of Barbados aided and abetted by the clueless Froon,the 8-4 PM of the country.
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Prodigal Son
ac,
Cud dear, you would not even go to Parliament yard yesterday to boost the numbers to make it seem as if the DLP is still popular?
Not even dems are happy with the government………..what a thing! Look how low you dems have sunk.
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Prodigal Son
listening briefly to a part of Brasstacks today, I heard the moderator asking Indar Weir if he has had foreign exchange problems. He said yes but he did not want to discuss it further.
A BU member keeps denying that there is a problem but there is a scarcity of US dollars, hence the minister of cruelty’s inducement to shop with US dollars………..a way for him to haul in some US dollars.
I went to purchase something recently with visiting relatives and the clerk asked if I really wanted to use US dollars…..she said……”you know they are scare and hard to get”.
And that was at a store which sells a lot of duty free items. So do I believe my eyes and ears or a lying liar?
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Tron
Bim is already the Greece of the Caribbean.
Greece is THE example what happens when a country is tortured by austerity + low productivity + bureaucracy + slow courts.
To remind the readers, the latest medicine for Greece is for 2015/16:
emergency measures before agreement with EU:
– capital controls:
use of ATM limited to 60 EUR per day
moratorium (1 week) for foreign bank transfers
shutdown of banks and exchange (1 week)
– default on IWF loan
afterwards:
– simplification of VAT in three steps: 6, 13 and 23 %
– abolishing VAT-privileges for Greece islands
– retirement age 67 from 2021 on
– strengthening independence of statistics authority
implementation of EU-directive on banks, meaning that clients pay in the case of a bank crash
reform of civil procedural law: oral hearing no longer mandatory
In my humble opinion, there is plenty room for the MoF to screw up Bim.
The best solution for the bright is to board the next plane, provided you got a foreign working permit.
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Tron
@Freedom Crier
Indeed, Bim is not a free and liberal economy, but a prison with socialist propaganda and very limited space for individual development: Taxes like Norway and Sweden, prices like Switzerland and net income like Swasiland.
Let us see at what point in time we run out of toilet paper like Venezuela.
TRON I HAVE NEVER SEEN YOU HERE BEFORE BUT THEN AGAIN I AM RELATIVELY A NEW COMER.
MY MESSAGE IS BASICALLY THE SAME AS YOURS … THE IDEOLOGY OF SOCIALISM ET AL IS THE ROOT CAUSE OF OUR ILLS.
THE MORE THAT CAN AWAKEN TO THAT FACT WILL KNOW THE PRINCIPLE BEHIND ALL THE ISSUES PLAGUING US.
WE WOULD HAVE AWAKENED TO OUR AWFUL SITUATION!
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Bajanfuhlife
Has Mottley offered any specific solutions as yet? Of course not, she is playing for the cameras. That is what her presentation is about – so predictable
A parrot could have respond to that budget ,after listening to Mia use other ministers word as well as the gov words to make case against govt spending
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Prodigal Son
You are so right, ac, a man with a parrot brain presented the budget yesterday!
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Artax
I like you real bad, yuh know, AC…. bad uh nuff.
You know dat a parrot could have presented that budget yesterday as well. A “samey, samey” budget.
The budget did not contain any “growth initiatives, only “WARMED OVER BOWL of STALE SOUP on govt plans having to do with projects going forward.”
@ bajangetuhlife
We getting an exposé of the DEMS manipulating economic data and illegally withdrawing from the housing fund, and you can’t see the solutions being offered?
Solution #1 to 10: Mottley is telling the DEMS to stop doing shiite.
In the Budget from yesterday the MOF stated that the 2% import levy would raise some $142.1M dollars, that translates to the total Import bill being some $7.105B dollars ?. How does this compare to the total GDP.
When will Barbadians see the IMF Article IV reports?
Why is the Central Bank still printing money? MAM makes the simple point what happens when there is printed money chasing goods?
Hint, forex.
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Caswell Franklyn
Wily
I am afraid that it would be a hell of a lot more than$7.105 B when you factor in to items that are exempted.
Sent from my iPad
Wily Coyote commented: “In the Budget from yesterday the MOF stated that the 2% import levy would raise some $142.1M dollars, that translates to the total Import bill being some $7.105B dollars ?. How does this compare to the total GDP. Questions and not too many answers.”
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Prodigal Son
The Central Bank has to print money to prop up this government. It is obvious that despite the blustering from the MOF, the economy is contracting and not growing.
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Artax
ac August 16, 2016 at 11:02 PM #
“Unfortunately in this budget her pickings going to be very hard to find since there is no Clico or Cahill which she can revert to which would give her that burst of energy triggering a doom and gloom effect.”
AC, Mottley like she surprise yuh and prove yuh wrong.
Wunnuh causing de “gloom and doom” by the shady under-hand deals and manipulating the economic statistics, which does not paint a true picture of the economy.
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Enuff
Love the tone of this response. MAM did not have to rely on exposing corruption to show up the madness of the solar farm in Waterford or Hyatt. Highlight of the speech.
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Bajanfuhlife
@David
“Why is the Central Bank still printing money?
Because the alternative is to cut government expenditure drastically with a significant chop to the wages bill – SENDING HOME MORE GOVERNMENT WORKERS in their thousands.
Mottley is full of sh*t
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