Deficit Committee of the Social Partnership Recommends Entering an IMF Program Supported by Aggressive Privatization and Rationalization of SOEs

Given the comatose state the Barbados economy continues to be gripped, let us continue our steely focus on the economy although this task will be made difficult with the Crop Over season firing up.   It is important to add that a deteriorating economic landscape will continue to have a deleterious effect on the social well being of our nation. The perception index of the state of crime and poverty for example is on the rise. Despite our level of academic achievement as a country- of which we frequently boast- as a people we appear to lack the acumen to dispassionately discuss serious issues without invoking political rhetoric (bile) -a  contradiction.

Yesterday Minister of Finance Chris Sinckler was strident in his public admonition of Barbadians. He is of the view nobody has offered reasonable alternatives (BU hesitates to use the word solutions) and the government policy prescription is the more palatable of those available.

Here is a copy of the Deficit Committee of the Social Partnership that was presented to the Government six weeks before the Financial Statement Budgetary proposals now made public. BU will reserve comment on the document except to suggest to effectively remediate a problem (s) the underlying or causal factors must be addressed. To be fair to the Deficit Committee it would have been constrained by the brief it received.

101 thoughts on “Deficit Committee of the Social Partnership Recommends Entering an IMF Program Supported by Aggressive Privatization and Rationalization of SOEs


  1. I don’t think that the Social Partnership fiscal deficit proposals are a panacea, but there is some clear headed analysis here and useful policy proposals.

    The recommendation to “Set a single lower VAT rate across the board with no exemptions, concessions or zero ratings for any industry or sector” then relying on the “use of reverse tax credits and pension supplements” to give “targeted relief to the poor and vulnerable” would be a major improvement to our tax system.


    • @Peter

      There is evidence that our bureaucracy does not allow for the efficient processing of reverse credits which defeats the purpose if we are to protect the vulnerable in our society. What impact/sensitivity analysis would have been done to support your position of a flat implementation of the VAT sector wide? We wouldn’t want to slit the throat of the goose laying the golden egg would we.


  2. Peter,
    VAT is a tax on the poor. It is a consumption tax and the poor spend a higher proportion of their income on basics; the well off save/invest a higher proportion of theirs.

  3. Bajan Free Party/CUP/.Violet Beckles Plantation Deeds from 1926-2017 land tax bills and no Deeds,BLPand DLP Massive land Fruad and PONZI on said:

    VAT is the fraud that is 17.5% Must be removed one time, VAT for UDC and for public housing which was to be temporary which is Owen and Mia Lie moving people from land rent to land tax.The government is still today collecting land rent that is a reflection as rent on a land tax bill.Which the government does not own. Depriving the owners of their land rent, Now acting like it was part of taxation.The land renters by way of DBLP land tax bills do not have a Clear title deed nor a deed at all, Onl thing they can show is a land tax fraud bill issued by Land Tax DBLP illegally=More Fraud and land fraud on a Massive Level.

    We can not manage fraud nor Ponzi it must be removed, Doctors managing cancer until all your money is gone then they let you die,
    To much long talk by Bajans with so-called PhDs in fraud talk.
    Barbardos must have an understanding on how things work!


  4. Hal Austin June 16, 2017 at 6:43 AM #
    Peter,
    VAT is a tax on the poor. It is a consumption tax and the poor spend a higher proportion of their income on basics; the well off save/invest a higher proportion of theirs.

    And then do what with it?

    Where does wealth go when it is ‘created’?

    Are there species of animals on this planet that eat and survive on money?

    This point continues to be missed by ‘experts’. The reason we know who the rich people are in this country (not the teefin’ politicians who have theirs squirrelled away in foreign countries for their post-election exodus) is because they SPEND IT. Money is no good to anyone if it isn’t buying something.

    Our cash pool in Bim is not created by wealthy people, it has been created by generations of working-class people who were taught by their conservative parents to conserve and save for a rainy day, not to borrow and not to live beyond their means. Not long from now that generation will be dead and their offspring will lick it out.

    But right now the cash sitting idle in our system belongs to those people. The ones who sold BS&T, Banks, Mutual etc. shares and were happy with 5% interest on deposit with Globe, Consolidated, Cave Shepherd etc., all of which have returned said deposits due to lack of commercial activity in this country.

    VAT is the only fair tax.

    I do not agree with the lowering of VAT. VAT should be raised and all other taxes abolished. Purchases made in BIM with ForEx should be VAT-free. You’d see how quick the true value of the BDS dollar would be realised.


  5. @David
    We can’t just keep making excuses for the poor implementation of good ideas by a broken bureaucracy…. we need “Accelerated reforms at the BRA.”


  6. @Hal
    Yes, all consumption taxes are regressive. It is the most efficient tax for raising revenue however, and the whole point of this exercise is to reduce the fiscal deficit.


  7. You guys must be deaf, dumb and blind.

    The Govt. has no intention of entering any standby arrangement with the IMF. Several times it has made this point and as recent as this year’s budget proposals. All with good reasons. So give up!!!!!!

    The Govt. has no intentions of rampant privatization, how many more time must it make this point before you BLP jokers get the drift?

    What you all need to high light is the fact that the Leader of your crooked Barbados Labour Party has to yet produce her LLB and Law certificate and make them a document of the House as challenge to do so by the Hon. Dr. Dennis Lowe.

    How can a person be a QC and no one has seen their LLB or Law certificate?

  8. Bajan Free Party/CUP/.Violet Beckles Plantation Deeds from 1926-2017 land tax bills and no Deeds,BLPand DLP Massive land Fruad and PONZI on said:

    We don’t need no IMF they already know all the VAT is fraud, We don’t need no DBLP government who bring this fraud call VAT. All taxes and VAT need to be paid by All,Ministers and lawyers also, then we may see where we stand, The PM just steps by his taxes and his VAT when he bought a car that is not for him. He needed to leave it on the lot,

    There you go again Daivd. No freedom of speeech on BU.


  9. David

    You two – legged crook !

    What has Carson done to divert attention with his comments ??

    Your putting up of this headline is a DELIBERATE attempt to divert attention from the crooked led Mia Mottley BLP

    You are the one that should be BANNED or DELETED for try to divert attention from the BLP crooks !!

    The BLP and their charlatans says the country need to the IMF

    The Dems says no way …… rational thinking Bajans ( excluding you and the other miscreants parading around ) FULLY agree .

    What is your beef ????

    For most of the past 9 years , you promoted stories after stories that Barbados :

    Economy gine crash

    Nobody investing in Barbados

    The public service gine collapse

    No more cruise ships coming to Barbados

    No tourists gine come here

    From the above – which of your INFAMOUS predictions have come to pass ?????

    David of BU…………….You are just an UNPATRIOTIC BLIGHT !!!!!!!

    You want something to ban……..ban the truth as outlined above !!!!!


  10. @Frustrated Businessman
    The 10% NSRL is a consumption tax like the 17.5% VAT. So now we have in excess of 27.5% (because sometimes the two are compounded) of consumption taxes. Does that satisfy your yearning for higher consumption taxes, or should they be higher still?


    • @Peter and Frustrated Businessman

      There is a danger in the discussion going circular here if you accept the tax incidence argument and juxtapose it with government’s untenable position of trying to address the deficit now that the NIS and Central Bank directorate do not have the appetite to be government’s ATM any longer. In other words your positions must recognize the political imperitive for government with an election less then one year out. The sad reality is that this Government has not demonstrated the leadership to infuse confidence in all sectors to leed in a tough time. Our current state is the result.

      #letuspray


  11. @Frustrated Businessman
    The 10% NSRL is a consumption tax like the 17.5% VAT. So now we have in excess of 27.5% (because sometimes the two are compounded) of consumption taxes. Does that satisfy your yearning for higher consumption taxes, or should they be higher still?

    No it isn’t. It is another tax extorted at the port of entry that, not only compounds the others, but adds to carrying costs.

    VAT, when executed by an efficient system, is genius. VAT paid at the port of entry is credited against VAT collected at the point of sale. The business owner does the maths, sends a cheque. That means that, if it was our ONLY tax, inventory carrying costs would be CIF only. That frees up cash to employ people, advertise, pay rent, expand business activity.

    Import duties, levies, NSRL and all the other shit bureaucrats dream up, all add to carrying costs. In the case of a car, out of every $100 dealers budget to put a car on the lot, $30 goes to the manufacturer including shipping and $70 is spent here and held in inventory until sale. Daed money, wasted resource. Other ‘luxury’ goods are similar.

    Sales tax is the only fair tax. If you consume you pay. If you do not consume, your money sits in banks, investment funds and on deposit in businesses for other people to use and they pay. VAT cannot be escaped, somewhere along the stream it has to be paid.

    And your comment about compounding does not speak to my point: I clearly stated that VAT should replace ALL taxes.


  12. @David asked “What impact/sensitivity analysis would have been done to support your position of a flat implementation of the VAT sector wide?”

    That work has already been done because when VAT was designed to replace the myriad excise & sales taxes the objective was for it to be low in rate and universally applied. The sector exemptions were always just political game playing.

    It’s quite easy to model the impact of eliminating exemptions and zero ratings because they have changed over the years and we have data on the effect of those changes.


  13. @Frustrated Businessman
    I agree with your criticism of the NSRL, but the fact remains that it is a consumption tax.

    I also agree with you that VAT is a very efficient way for the government to raise revenue provided that it is not complicated by bureaucratic exemptions dreamed up by politicians.

    However VAT is very regressive: it is disproportionately hard on poor people. You are OK with that; I am not OK with that. It’s just a difference in our value systems. If we rely on VAT for all government revenue then I argue that we need a very efficient way of direct transfers to the poor to provide relief from their disproportionate share of the tax burden.


  14. @David
    As long as political imperatives take precedence over economic management then we are F#@*ked economically. The DLP regime squandered a chance to use the Social Partnership for political cover and pursue sound economic management. The budget is not going to win them any political points, but it is economic stupidity, so they lose on both counts.


  15. @ David

    Good topic again. Is the isolated table the only attachment?

    Why is the BOP surplus fixed at $136 million over the projected period?
    Are the scheduled debt payments for external debts only?
    If they are not why are local debts a charge on the net foreign exchange earned?

    Why are they ballooning in 2021 and 2022? Doubling that of the previous years’ average?

    I hope you now understand my conclusion that the finances and economy have not been properly managed since Mr Arthur demitted office. That is If the table attached is correct’.

    VAT is a regressive tax and will impact the lower income more heavily than the higher income groups. That contributes to the inequality of income and may hasten the period of social unrest which some people in this country want to have. Raising the level of the expenditure tax is therefore a no- brainer.

    I believe this Committee recommended a reduction in the rate of the VAT. How could that have been translated to adding another level of expenditure tax? .

    Yes , Lawrence T. The remit given the Committee was constrained to fixing a symptom not the disease and they did that without seeing that the reaction to the medicine may cause cardiac arrest.

    Carry on smartly.


    • @Bernar:d

      The table was snipped from the document that is linked in the blog.

      Those are some ‘big mout’ observations will have to wait for the BU intelligentsia to respond.


  16. Amm here sitting in the gallery watching the blp yardfowl brigade march by.
    These bunch of clowns led by the Fraud must have a death wish for Barbados most of them would run for the high hills when the tsunami truckload of IMF proposals hit the shores leaving the most vulnerable to be washed out by the roaring seas
    Mottley knows her charcacter has received a beating in recent weeks and has resorted to being a spokesperson for Annankani and his crew .What a loser.
    What alternatives the blp has none


  17. “@ David June 16, 2017 at 7:38 AM #
    @cadogan

    Further comment to divert this topic will be deleted.”

    This is proposterous to say the least ! I once questioned why some of us were introducing other topics in a discussion and you, David replied that contributors can do as they please. Now because you introduced a relatively repetitive topic , you are using different standards.
    I recently said that I don’t like anybody who is judge , jury and executioner-this proves my point. You, who always talk about transparency and the intransigence of the political class but you are acting exactly like them.
    The die has been cast; the government is not going to the IMF at this time. The private sector’s recommendations have been rejected. So why this highhanded nonsense.
    As always: Please note that I am not agreeing or defending the BLPDLP. Thanks.


  18. peterlawrencethompson June 16, 2017 at 8:41 AM #
    @Frustrated Businessman

    However VAT is very regressive: it is disproportionately hard on poor people. You are OK with that; I am not OK with that. It’s just a difference in our value systems. If we rely on VAT for all government revenue then I argue that we need a very efficient way of direct transfers to the poor to provide relief from their disproportionate share of the tax burden.

    Think harder Peter.

    I do not agree with your statement about the poor being adversely affected by high VAT and you do not understand the costs that are being carried by businesses due to all the other taxes and how those are already being passed on to poor people, above what any high VAT rate would cost them.

    Since business cannot be explained to any bureaucrat, I submit this for the sake of moving forward:

    If, as you say, the poor are adversely affected by high VAT on food, clothing and power, how about a 10% VAT on them and a 25% VAT on everything else like the cel phones, sneakers and kadooment parties?

    One of the first things Chastanet did after his election win was to hire private sector professionals to advise him. Our idiots are still bumbling aimlessly.


  19. @ Frustrated Businessman: enact Facilitation Martial Law!June 16, 2017 at 6:56 AM
    “VAT is the only fair tax.
    I do not agree with the lowering of VAT. VAT should be raised and all other taxes abolished. Purchases made in BIM with ForEx should be VAT-free. You’d see how quick the true value of the BDS dollar would be realised.”

    How can VAT be the “only fair tax”? VAT, by its nature, is regressive unless you are going to exempt or zero-rate the items included in a daily hamper of survival for the poor and indigent.

    I can support you in a view that VAT should be reformed and expanded to replace personal income tax.

    But it still would not generate sufficient tax revenues to finance a modern and sophisticated public sector providing a range of social services, including defence and security.

    In addition to the VAT taxes and levies on property should be the main tax generators for a country whose economy is primarily based on the transactional importation and selling.

    Declining foreign exchange earnings would clearly result is a contracting economy based mainly on imports and which would have major implications for a tax regime dependent mostly on VAT.

    Barbados has, in theory (and legislation) a fairly modern and sophisticated tax system given it small geographical size and limited economic configuration. The problem is one of management and enforcement.


  20. @ William at 9: 37 AM

    You might have noticed that in yesterday’s topic David , Artax etc displayed some concerns with the issues consequential to the Budget which to their minds were not properly addressed. One section in the printed media made the Budget headlines again yesterday. Do you not think it reasonable for the Blog Master to explore and ventilate this issue further? Mr. Sinkler in that referenced press interview asked for ideas.

    I know from certain key phrases lifted from the BU Blog and inserted in their public speeches, that they, the political class, troll this blog.

    I must confess that I too have a cognitive bias towards topic that impact negatively on my country.


  21. Miller, it is a fact that most people listen to respond, not to learn.

    In an effort to reinforce your misinformed opinion you are reading to respond and missing my point completely. I will try keyboard shouting.

    The poor are already carrying the burden of all the taxes that are charged PRIOR TO SALE OF GOODS AND SERVICES PLUS THE INTEREST PAID ON INVENTORY BORROWING.

    VAT is charged AT THE SELLING POINT OF GOODS AND SERVICES.

    The main difference is what is done with the money IN-BETWEEN THE TWO.

    Read my posts again.

    Removal of all other taxes and replacing them with VAT will free up cash for businesses to invest in people, plant, advertising etc. and GROW THE ECONOMY.

    Cash to an economy is like water to a plant. It is the only thing that can make it grow.

    VAT IS THE ONLY FAIR TAX. Fair for the state, fair for the end-user and, most of all, fair for all the people in-between who make an economy work.


  22. @ Bernard Codrington.June 16, 2017 at 10:27 AM
    “@ Miller 10: 22 AM
    Very , very good. I had almost given up on you.”

    I, too, have not (yet) given up on you, B C.

    We on BU are still awaiting from you at least one recommendation to ensure the much needed growth in the economy in order to steer the ship away from the visibly dangerous financial rocks ahead.

    Why not put your intellectual money where your critical BU mouth is?

    I am prepared to do likewise!


  23. @ Bernard Codrington
    I think you have missed my point. David cannot
    Operate like that – allowing things when it suits his
    purpose. Just recently many people hijacked
    Angela Cole’s article. He should have applied the
    same rule then.


  24. @Frustrated Businessman
    A poor household spends all income on consumption. If someone is earning $10k per year (after income tax) they spend every last cent just to make it through; if VAT applied to everything this would mean that they spend 17.5% of their earnings on VAT. If someone is earning $200k per year (after income tax) they may save $30k, spend another $30k going on holiday to NY or London and another $40k on kids in school abroad; this leaves $100k of local consumption so this would mean that they spend only 8.75% of their earnings on VAT. This difference is what some of us regard as unfair. The poor person ends up spending a higher percentage of their meagre income contributing to maintaining public services than the well off person does.


    • @Peter

      You have to be careful doing a straight-line comparison between middleincome and those at the bottom. Shouldn’t there be an incentive maintain grow the middleincome group to act as a ‘draft’ for those below? We have to be careful how we tinker with a middleincome group we have invested so much to anchor the economy.


  25. @ Frustrated at10 :38 AM

    You personally may use your ” freed up cash” to invest in people, plant, advertising etc. “. Can you really be sure that other “unfrustrated” businessmen will do the same?

    If ” cash” can make the economy grow and there is excess cash (liquidity in the economy} how come there is no growth?
    Do you really mean cash? The accounting/ economic definition for cash is unutilized and underutilised short term/ liquid funds. In the financial system bank deposits exceed loans at the present moment. An excess which recent proposal plan to lend to GOB. Basically the same is happening with the Surplus liquidity at NIS . Hence the temptation for government to borrow.
    I think you need to revisit your assertion on freed cash and growth.


  26. @ Frustrated Businessman: enact Facilitation Martial Law!June 16, 2017 at 10:38 AM

    F B, let us get your position straight and clear. Are you recommending that all other taxes and levies be abolished and replaced with VAT, with or without exemptions?

    What would happen when there is an economic recession or a drop in the country’s capacity to earn foreign exchange to pay for the imported goods and services on which a relatively high elastic transactional tax such as VAT is based?

    There is another side to your ‘only’ VAT proposal.

    The income and earning capacity of the average consumer or the man and woman in the street must be raised to the point where he or she can bear the VAT and pay privately for many of the goods and services which the State traditionally provides but would be significantly cut back because of the reduced tax sources such as personal and corporation income taxes, taxes on properties and other forms of direct and indirect taxation.

    VAT alone is not the panacea for achieving improved fiscal performance but a combination of VAT and taxes on property to meet the twin canons of taxation (Benefit principle and the ability to pay).

    The people- the likes of Due and Friedlaender- who advised the Bajan government about the introduction and implementation of the same attractive VAT system would not entirely agree with your ‘solo’ tax proposal to meet the fiscal requirements of a modern but still fragile economy.


  27. @ miller at 11: 06 AM

    When your party or BU party control the majority in the House of Assembly I will deal with you. The proposal is not for sale. In fact if you followed my interventions on this Blog and elsewhere,you would have seen them. If you did not see them then how will repetition improve on this?

    Moreover are you in any position to implement them if I were to disclose them?


  28. @David
    You are completely correct… the straight line comparison was a simplification to explain why consumption taxes are regressive.

    There is a mistaken view prevalent among conservatives that investors create economic growth: this is erroneous, economic growth is accomplished by middle class consumption and spending patterns, investors are simply middlemen who seek to exploit opportunities created by those middle class spending and consumption patterns. So we need to grow the middle class.

    This is why the Social Partnership proposal to reduce the VAT rate makes sense… it is a way of modestly expanding the purchasing power of the middle class in search of economic growth.


    • Thanks Artax and Peter, link updated.

      @Bernard

      Now understand your question posed earlier. Sorry for posting the wrong link.

      @William

      We have been at this for 10 years, we know the trolls and their objectives. The decision to protect the quality of the blog is ours.


  29. @ Miller at 11 : 39 AM

    VAT and Taxes on Property/ assets.

    What happens if there is no cash flow to pay the taxes on assets/ Land? Will someone create a Land Bank? Will we do a fire sale to Foreign investors?

    Miller, I advise that you wait until you are in a position to take an objective assessment of what the real situation is.
    If you are really the Miller that I think you are you would be aware that most of these external evaluations are based on opinion rather than hard facts. David also pointed out yesterday they are also based on econometric models that bear little relationship on how the Barbados economy really reacts to a volley of external shocks.


  30. Peter Lawrence at 12 : 05 Pm

    I agree with you. The periods of rapid growth took place in those years under Barrow, Tom and Arthur when the Middle Class expanded.


  31. @ Bernard Codrington.June 16, 2017 at 11:41 AM

    BC, I will let your red herring off the hook since it is too politically ‘smelly’ for my boat.
    Since you are afraid to “sell” your proposals openly on BU in case they find their way into some BLP manifesto why not do your national duty by rendering a favour to the current beleaguered administration and heed their SOS call to save your beloved Barbados?

    Why not, undercover, send to the MoF your workable proposals for economic growth instead of succumbing to the blows of additional taxation the man has imposed on an already crippled economic horse? I am certain he will entertain your proposals the same way he takes advice on the correct use of decimals and fractions.

    As a ‘trained’ economist, you ought to know that excessive taxation on an already overburden economy is like gramoxone to a man who has already drunk bleach to commit suicide.


  32. @ Bernard Codrington.June 16, 2017 at 12:18 PM

    What happens if there is no cash flow to pay wages/salaries/dividends to pay the VAT on the imported goods and services paid from dwindling reserves of forex?

    Sell the same assets to foreign investors as happened with BNB, BL&P and will soon be happening to the BNTCL and most likely NPC?

    One, one taxation blows will eventually kill the old cash-flow cow.


  33. @ Miller 12 :35 PM

    Keep on fishing. You obviously do not have the capacity to recognize fish, fowl or good red herring.

    Please refer to Frustrated Businessman’s first two paragraphs in his submission at 10 :38 AM. I concur with him. I believe that I erred in catching at a straw of hope.

    Carry on smartly . You are doing fine.


  34. DAVID

    You always threatening to delete my comments.
    However you are of the opinion that this is a free forum.

    If you don’t want anyone posting any comments which are not favourable to your Barbados Labour Party just say so.

    At the mast head of your blog pin that you don’t want anyone posting comments which are fair and balance.

    Only Barbados Labour Party comments are welcome. Every one will get the message.

    Capisce?


  35. Interesting paper……only usefull for long term implementation.

    The now and short of it, is that we are in such deep doo doo that only the IMF programme that OSA spoke about if still available can bring us out…..which will give us the breathing space to implement some of the above.

    The MOF said that a review on everything was being readied for October,when the real budget would be presented.

    The IMF normally takes 6 months from application to roll out…..(I wonder if the PM saw the light and in October after the 6 months of hardship we will hear of an IMF programme)

    The Unions have to strike and force the Govt to go to the IMF……

    On Brasstacks on tuesday McDowell made an interesting statement that has not been refuted or mentioned by any one to the effect that according to the Central Bank report that govt’s wage bill has fallen by 100M already hence his argument for talks on salary increases or allowances.

    Round and round we go………….where we stop no one knows……….not realising that time is of the essence……these discussions carry us no where,sadly they will only serve to massage our old egos……we need action now.


    • @Vincent

      Is it not so familiar to you?

      Have a read what transpired during the Greece finacial crisis.

      Has Bernard is won’t to say, it will correct.


  36. @ DavidJune 16, 2017 at 2:15 PM

    The difference between the crisis in Greece and the daily deteriorating economic situation in Barbados is that Greece has its financial godfather the EU Central Bank along with IMF money and strictures to hold its hand and guide it out of the crisis.

    Barbados cannot get that kind of support unless the IMF takes control of the monetary and fiscal landscape.


  37. When Barbados opted to leave the EC Currency Authority and establish its own currency in place of the EC dollar,Barrow assumed that Barbados would always be capable of managing its monetary and fiscal affairs to the extent that what we are experiencing now would not have entered the equation.Barrow would have scoffed at the idea of a Garsun boy who has no background in anything scientific would be in charge of his ministerial portfolio of Finance.Worse yet,the man occupying his office and ministry would consider the unscientific and arbitrary,irrational taxed extractions called budgetary proposals from 2010 to 2017 as drawn and expressed as eminent.We continue to exist in a state of flux.


  38. OH…….
    Bajans ‘better off’ than before
    BARBADIANS ARE BETTER off today than years ago, says Minister of Social Care and Community Development Steven Blackett.The minister gave no tangible evidence to…
    nationnews.com
    https://shar.es/1B0kl3


  39. David June 16, 2017 at 2:15 PM #

    Very much so.

    The Unions have to step up to the plate.

    I posted that statement above by the Minister to show the outrageous propaganda that is being peddled here.


  40. millertheanunnaki June 16, 2017 at 3:21 PM #

    All we have to do is to send in our application…….they are waiting for it.


  41. Tax hikes may put more on the streets, says BVHS President | Loop News
    With two weeks left before Government is set to implement the recently announced revenue-earning measures, President of the Barbados Vagrants…
    loopnewsbarbados.com
    http://ow.ly/PI9430cEGAS


  42. @ Carson C. CadoganJune 16, 2017 at 3:40 PM
    “Barbados is not going to the IMF.”

    You have truncated your statement by omitting to write: “once again”.

    Remember the prescient words of Sir Lloyd: ‘How did we end up here, again?’
    Does the phrase “Déjà vu” mean anything to you Carrion?

    With so many credit rating downgrades with two more around the corner, the IMF must now be seen as the country’s banker of last resort.

    Not even China will be keen to lend money for balance of payments support unless some of those 17 million excess to requirements male Chinese are exported to re-colonize the island and widen the gene pool.


  43. millertheanunnaki June 16, 2017 at 4:57 PM #

    You are quite correct………Not even China will be keen to lend money…..

    This govt has lost all credibility,I am surprised that the more than 5 year old IDB energy loan came through…..I expect the disbursements will be tied to meeting targets.

    The Minister of Commerce on the VOB 4.30 news just guaranteed Emera a 10 year extension on its contract,apologised for the delay and said he will work with the Minister of energy and personally see that it gets signed.

    I wonder what the this IDB green energy loan is for…….

    https://www.facebook.com/NationBarbados/videos/10154372949245989/


  44. Steve Blackett seem unable to think on his feet.He is notorious for having prepared speeches to read from when doing TV interviews and recently he was seen reading from prepared sheets of paper while addressing the House.Reading from prepared speeches is against the rules of the House and the speaker did not insist that Blackett’s prepared speech be made a document of the House.Blackett is out of his league and this is one he cannot put on the BLP.


  45. Vincent

    A few years ago the very same minister laid a “White Paper” in the House on poverty in Barbados. The contents were not good. Apparently neither the minister nor his colleagues, lazy sob’s that there are, did not read the report.

    The Opposition lashed the government for its contents and it is said that afterwards the jacket was cussed for bringing the truth to light.

    The only people better off are the dems and those they have feeding at the trough.

    The whatsapp voice note going around, though laced in profanity speaks to the truth!


  46. Why are people wasting their time offering advice to this government?

    Stinkliar was saying on Wednesday………”all of the people are criticing the government but you know not one of them is offering any ideas about how I can do things differently”.

    The man is not only dumb, he is deaf as well!


  47. Does anyone know what happen to the money this government put into a development bank in Brazil or Columbia a few months ago?

    I am most sure it was $30 million………..money borrowed from FCIB. This money as I remember was to enable this government to borrow as downgrades piled on and all avenues to borrow were dried up.

    We do not know half of the mess this government has done and what they have committed our children and grandchildren to!


  48. Hpw many millions of taxpayer’s money has been given away by the 2 governments to 6 or 7 minority business people before it has dawned on these ministers that the minority business people are all parasites, living off the blood of the majority population, we know they are parasites, we want to know when the government will stop giving them taxpayer’s money.

    Maloney acted as though he spent the money on the molasses tanks, now pimping around for Hyatt money from the population.

    https://www.barbadostoday.bb/2017/06/16/theyre-parasites/

    “They’re parasites!
    Added by Colville Mounsey on June 16, 2017.
    Saved under Budget, Local News, Politics
    4
    A Government Senator has described the local business community as parasites who are only bellyaching about the recently announced budgetary measures because they are unwilling to carry their share of the economic burden.

    We had some molasses tanks in the ports that were leaking and falling apart. The Minister of Finance and myself met with the Rum Producers Association and the private sector of this country to repair those tanks and we asked them for $5 million in contributions and that money could not be found,” Ince lamented”


  49. “He added that the $24 million price tag to repair the tanks was eventually paid solely by taxpayers.”

    That is what taxpayers paid to repair the molasses tanks at the port.


  50. @ Carson C. CadoganJune 16, 2017 at 3:40 PM
    “Barbados is not going to the IMF.”

    There is only one reason for that…….IMF is a lot like me and would itemize all the bad spending the government did and every penny that disappeared from the NIS and treasury over the last 9 years.

    IMF would broadcast it to the people of Barbados…and the world.

    The government wont want that…the thieves will be all exposed.


  51. Well Well

    Would the IMF also broadcast to the World and to the Queen of England that MIA AMOR MOTTLEY has not produced her LLB and Law Certificate two years after being challenged by the Hon. Dr. Dennis Lowe in the House Of Parliament of Barbados?


  52. Carson.., only you seem to give a shit about that old hag in buckingham palace who wont piss on you, if you were on fire…

    Have some self respect and dignity as a black man and show respect for the suffering of your ancestors under that evil dead empire, it’sbad enough ya are a yardfowl.

    Besides, have you called Mia’s former law school in UK to confirm she has no LLB….if not ya just still spreading vicious rumors, you and the other idiots….bring the proof.

    Black people who still believe they are owned by white savages in the UK are repugnant.


  53. Everyone will be glad to see the backs of DLP government, leave the people’s parliament, you useless, disrespectful to the black majority, nuisances.


  54. “”have you called Mia’s former law school in UK to confirm she has no LLB””

    its not for anyone to call, its for her to produce it. She being a QC and all!!!!!


  55. @ Bernard Codrington.June 16, 2017 at 1:06 PM

    I might not know the difference between fishy fowl or good red herring (even with a bowl of breadfruit cou-cou) but I can say beyond a shadow of doubt that what is now playing out on the economic landscape in Barbados was predicted long ago by this miller of real flour and not the ‘corny’ one you are mistaking me for.

    From the necessary layoff of public sector workers and the vital need for a planned programme of privatization and restructuring of statutory agencies to stem the fiscal hemorrhaging to the urgent demand for more competent management to replace the intellectually challenged liar who has taken your country to the cliff of fiscal and monetary collapse, the miller has been like a ‘veritable’ bee in the bonnet in your totally discredited and downgraded administration.

    There is only one last sting to administer. It would be done when the government is forced to hang its head in abject shame and, with its forex begging bowl empty, visit the doorsteps of the IMF to save your sorry asses from ‘imports’ starvation.

    If the gardener(s) in charge of the economic orchard were competent and worth their salt in support shouldn’t you by now be eating the fruits of recovery from the tree of sacrifice and austerity planted since 2014?

    To (mis)quote your mentor the frustrated businessman who has no qualms about instituting martial law to get rid of that lying incompetent corrupt lot of jokers: ‘There will be no recovery, economic or otherwise, under Fumble and his goons’.

    So why not help to put your administration out of its lying misery and let the people decide the kind of economic medicine they are willing to swallow to aid digestion in order to stimulate economic resuscitation?

    Let them throw in the towel and step out of the ring.
    Maybe, then, your ‘secret’ proposals to bring about economic growth would be made public with the shoots of recovery surfacing from the seeds of national commitment you so loyally display.


  56. @ Miller at @ 2 : 11 PM

    I am always happy to be mistaken if the result of that mistake leads to a solution of the problem at hand. I note that in addition to being a miller of real flour you are a predictor of economic outcomes. Good for you. How we wish we had those skills.

    My advice to you is the same : observe what is going on around you; be prepared to reorient your thinking;make decisions that may lead to the achievement of your goal; and act at the appropriate time. Learn the fine distinction between activity and action.
    At the moment you appear to be following a script that has been written for you. Is this persona you? Will it lead to the desired outcome? Think! Think! Think!


  57. These three letters in the alphabet IMF the blp operatives and leader should stay far away from using. Like the word Privatization those letters would hand the blp devastating results at the polls


  58. @ Bernard Codrington. June 17, 2017 at 3:37 PM
    “At the moment you appear to be following a script that has been written for you. Is this persona you? Will it lead to the desired outcome?”

    A script written for the ‘flowery’ miller??? Is that how you try to humiliate the miller by calling him a lowly typist?

    Well, well, Jeff Cumberbatch and Bush Tea should be most concerned about such a demotion of the boy whom was mentored by Prof. Wharton. The miller might be seen literally by many as a darn poppet but clearly not anyone’s ‘literary’ puppet.

    Why not let either David of BU or even Angela Skeete formerly “ac” attest to what the miller is claiming to have been his position all along?

    The angelic “ac” can ‘honestly’ confess that the currently proposed and promoted privatization programme and going to the IMF before the economic and foreign reserves shit hit the fan have been the kernel in the mantra of this often denounced prophet of doom and gloom for longer than you can ‘conveniently’ forget.

    Bernard, here a blast from the past:

    millertheanunnaki | March 23, 2013 at 8:54 AM |
    @ Ping Pong | March 23, 2013 at 6:58 AM |
    “Not to join the Opposition’s doom-and-gloom characterisation but when the deficit is $billion and increasing, revenue is decreasing, the poverty rate is increasing and the economic environment (both locally and worldwide) continues to be unfavourable, what should be one’s outlook?”

    Ping Pong, there is no need to be apologetic. You are not preaching any doom and gloom like the world coming to an end or a tsunami will wash away Bim on 13 of Black October 2013.

    You are using your intellectual intuition (commonsense) and academic training to evaluate a set of data and conditions and come to an informed position that does not look very rosy for the economy of this country.

    No one wants to see Bim in very serious economic straits but like individuals the consistent making of faulty decisions can lead to future difficulties that can lead to ruin.

    Drug taking and living above an individual’s financial means can result in a person ending up on skid row. Same thing applies to countries whose leaders refuse to manage their countries’ finances (and civil institutions like the justice system) properly and still continue to make damaging policy decisions.


    • @Miller

      Yes you were an early adopter of the privatization message which pundits in their post-2013 general election analysis attributed as one of the factors why OSA was defeated at the polls. It is amusing to observe that the government- strident in opposing privatization- has gleefully adopted the privatization strategy as we approach another election. So far we have BNTCL awaiting approval from the FTC and Hilton is next if we are to believe the minister of finance.


  59. David of BU

    Get you act together

    Your unbridled bias to promote fraud in this sweet BARBADOS 🇧🇧 today , causes a DESPOT ( so called by her former boss ) to parade across this country without producing evidence of her LLB degree and LEC certification to practice law in Barbados.

    But you carry on in your merry old way…..

    One day coming soon………to a political platform near you

    Stay tuned !!!!!


  60. however the difference in magnitude that BNTCL and Hilton would impact hundred of daily lives being that there would not be a grave injustice of laying off of workers when compared to the other named govt entities that the blp and their operatives have called on the govt to privatize


  61. @ Angela Skeete

    Must you demonstrate your ignorance, lack of thought and “yard-fowlism” on a consistent basis in this forum?

    What is the “difference in magnitude” between privatizing the BNTCL and, for example, the National Petroleum Corporation (NPC), GAIA or the Barbados Port Authority?

    Additionally, in January 2014, the abysmal failure as a Minister of Finance, Christopher Sinckler, is on record as saying your inept DLP administration was “currently reviewing the functions of 19 statutory corporations with a view to CONSOLIDATING their operations.”

    “The final report will be presented to Cabinet shortly and implementation, following wide and intense discussions with all of our social partners, will commence in April, 2014,” he stated.

    “He added that, of those 19 institutions, “Some will GO OUT of BUSINESS, others will MERGE with each other and perhaps where it is feasible and makes sense for private involvement in the operations of any of those institutions that will be undertaken as well.” [Source: Caribbean News Now: January 9, 2014]

    If your inept DLP administration is thinking of CLOSING and MERGING some statutory corporations, “would [it not] impact hundred of daily lives being that there would be a grave injustice of laying off of workers?”

    “Would [it not] impact hundred of daily lives being that there would be a grave injustice of laying off of workers,” if your inept DLP administration were to CONSOLIDATE or MERGE the operations of The National Assistance Board, Rural Development Commission and Urban Development Commission?


    • @Artax

      It is clear rationalizing the SOEs is out of the question with 8 months to go. Another empty promise by the MoF.

      @Alvin

      Going to the IMF will be a function of the state of the economy that is influenced by exogenous shocks. That is outside of the control of the government.


  62. @ Alvin Cummins June 18, 2017 at 9:26 AM
    “The government is not going to the IMF, period.”

    We wish you the best of health to live a few more months to see you eat those very words.
    Words you similarly had to eat with the layoff of public sector workers and your DLP administration’s current passionate haste to privatize as if there is a fire sale.

    Sir Erskine said the same thing when he loudly declared the economy of Barbados was batting like Sir Garry and firing on all cylinders.

    So if the IMF was the country’s forex lender of last resort when all engines of economic growth were performing ‘optimally, what do you think is going to happen to Barbados now that there is only one cylinder sending fire to the sputtering mono engine?

    What are you going to do if you do not want pay a visit to Dr. IMF?

    Sell your naked donkey to the Chinese to grow more stupid like you did under the Union Jack but on this occasion under a communist yellow yolk of serfdom?


  63. Miller

    I really wonder about these operatives,especially Alvin……is he not aware that his boss is presently laying the wicket for the entrance of the IMF.


  64. This is why Mia Mottley can never be trusted, she insists on playing both sides against the middle.

    Her concern should be the over 70,000 black voters, most of whom are paid minimum wage fir decades by the same parasitic business people, the same disenfranchised black voters whose votes she needs since there are not enough minority business people to elect her to parliament.


  65. you quote a consideration made by the Minister of Finance which he made in 2014 . So what is your point ? the fact being which has not happened , However as sensible Barbadians listened to the mouthing of the BLP leader and operatives there are very aware that the BLP are still dead set on wholesale privatization of govt entities which have provide jobs a mantra which the blp has been singing for the past seven years followed recently by a chorus of IMF serving. None of which Barbadians have an appetite


  66. As a DLP operative and yard-fowl, you are using this forum to commence the DLP’s campaign, which, based on your comments, consists of political rhetoric, innuendo and untruths.

    My point is, in November 2016, Sinckler also made it clear that “while his Government is not fundamentally opposed to privatization, some services will remain under the control of the State no matter what.”And in his recent Budget presentation he mentioned about the rationalization of statutory corporations.

    You are being disingenuous and “maliciously hypocritical” to suggest Mottley made specific references to government entities that would be privatized under a BLP administration, when you know that is not true and you also know both BLP & DLP mentioned that privatization has to be a considered option.

    Also, in response to the proponents of privatization, Sinckler has been asking them to name the statutory corporations they would privatize.

    However, for reasons to suit your political agenda, you are also implying whereas a process of privatization under the BLP would result in the loss of “hundreds of jobs,” privatization under the DLP would not.


  67. Ok Artax you got it right this time for the same reasons that the people in the last election rejected the notion of Privatization of govt entities namely transport board and sea and airport which was named by the blp as being correct to be placed on the Privatization chopping block. The only person being disingenuous is you . The people of barbados are aware of the economic pressures the country is under and the govt is also aware that the prescription of wholesale privatization which was recommended by the blp would put many household under severe financial pressure and collapse the social enviroment of the country.
    So dont come here pretending that the blp has never presribed such recommendations.
    The last budget was an assurance that govt workers would not be jobless despite the hue and cry generated by self interest attached to the blp and others who see countries interest of no interest unto themselves


  68. Artax so you can hee and haw all you want unless you can present tangible proof that govt has privatized any entity that has slashed workers your reference to Sinckler 2014 comment rings hallow and does not dismiss the BLP past and present recommendations of Privatization which if activated would affect thousands of household.
    Barbados is going through an atmosphere of economic changes and challenges having to live up to the standards of a global community which requires plenty if money to sustain
    Gone are the days of coal pots and donkey carts which require little or no financial maintenance to sustain
    Barbados is now being caught in a whirlwind of extreme demands internally and externally and debts balloned by interest rates which must be paid and alternatives which are painful but must be done
    Govt have effortlessly tried to limit the pain despite the objections of some political quaters to do more. These objectors knowing full well what the outcome would be and the high cost placed on the backs of the society
    The blp at the eleventh hour is trying to hide the fact that they were advocates of wholesale Privatization but too little too late Prvitazation would remain a thorn in the back of the blp along with their new found chorus of IMF analogies


  69. I anticipated your comments and that’s why I purposely mentioned Sinckler, because I knew it would have gone over your head.

    If Mottley had MENTIONED SPECIFIC government entities that would be privatized under a BLP administration……….

    ………..why would Sinckler CONTINUALLY ASK the BLP to NAME the statutory corporations they would privatize?

    That the question you need to answer, rather than spewing your usual nonsensical political diatribe.

    It was for reasons of political expediency that the DLP mentioned the Transport Board and Sanitation Service Authority, because they know the emotion mentioning these entities and privatization “in the same breath” would evoke.

    And you are risking the same thing in this forum.


  70. Hell No i am not risking any thing. I am just stating the truth.
    However you are trying to control and confused the issue knowing better.Going into the upcoming election the blp is trying to used a method of bait and switch on the Privatization issue against govt.and the people would not be fooled


  71. I engage you on issues for the main purpose of making you and other contributors aware of your ignorance.

    You are definitely correct by mentioning: “Going into the upcoming election the DLP is trying to use a method of bait and switch on the Privatization issue not only against the BLP, but the entire Barbadian electorate, and the people would not be fooled.”

    And this is evidenced by the fact that Sinckler and the DLP have been “dilly dallying” around the privatization since 2013, WITHOUT giving any “clear definitive perspective” on the issue except to say “government has not closed to door to privatization.”

    Campaign strategies such as the Transport Board privatization ad will not work this time around. Barbadians are fed up of the BLP and more so, the DLP.

    You constantly spewing nonsense about Mottley and a LEC or trying to convince us that there would be fundamental differences between a DLP privatization program and that of any other political party are issues that are attractive to yard-fowls.

    Surely you should realize by now that intelligent people discuss issues in this forum and will not be persuaded by your political diatribe to think otherwise.


  72. Surely you would realise by now that your opinion does not make any difference to me .which begs the question why do you waste your time responding
    And surely it should be obvious by now that given the outcome of thest election the majority of people does not agree with u
    So bro take a well deserved hick.


  73. David

    The Nation today Pg 8….The Wild Coot…gives the reason why this govt will not go to the IMF and what is in store for us over the next nine months.

    Worth reproducing.


  74. Some of the Budget proposals are set to take effect on July 1, 2017.
    Sinckler to meet private sector on Budget concerns | Loop News
    Minister of Finance, Christopher Sinckler, will meet with a number of organisations over the next two days to discuss concerns relating to the…
    loopnewsbarbados.com
    http://ow.ly/2enW30cIMnv


  75. @ millertheanunnaki June 19, 2017 at 4:36 PM

    What do these people expect from the meetings other than to be treated like the sub-committees of the private Sector Umbrella Association and their recommendations for fiscal deficit reduction and the badly needed economic growth instead of a more depressingly consuming spiral of further austerity measures?

    The outcome of these meetings would be analogous to the Fowler-led band of BIPA naïve children running behind a reverse a pied piper of Pinocchio lies called the Stink liar who promises they will receive settlement by September 30, the Twelfth of Never ending.

    He could as well come clean, and before he applies for enrolment in the priesthood, tell the people the truth, the whole truth and nothing but the truth, so help him God.

    There is nothing he can do to reverse the ‘sticky’ wicket that has been prepared for the IMF to bowl on. He is just following instructions from overseas to ensure the soon-to-arrive managers do not have to wield to big an austerity stick.


  76. millertheanunnaki June 19, 2017 at 5:24 PM

    Should be:
    @ Vincent Haynes June 19, 2017 at 4:38 PM
    “Minister of Finance, Christopher Sinckler, will meet with a number of organisations over the next two days to discuss concerns relating to the…”


  77. Miller

    The key to our present situation lies with the Union meeting……his meeting, as you pointed out would be a waste of time.

    Will they….or wont they……The Unions……shut the country down untill application is made to the IMF or elections are called.

    Read Wild Coot…..he has made it pellucidly clear as to the political game this inept party is playing with the citizens of Bim and why they refuse to go to the IMF…….isn’t amazing how he is never challenged with a law suit.


    • We can rollout all the policy initiatives and prescriptions we want if there is no confidence by the players who have to drive the economy i.e. the private sector that Jepter Ince is cussing there will be no recovery.


  78. Angela Cox-Skeete

    And it also “begs the question WHY DO YOU WASTE YOUR TIME RESPONDING TO ME?”

    I DON’T CARE if my opinion does not make any difference to you, because you are INSIGNIFICANT to me and to many other contributors to this forum. You are such a yard-fowl jack-ass that I doubt even you are aware of your stupidity.

    Any time spent highlighting and making you and the other semi-illiterate DLP yard-fowls aware of your stupidity IS TIME WELL SPENT. But it’s obvious from your responses I’m SUCCESSFUL in achieving that objective and my responses hurt your fragile feelings.

    Changing your name from “AC” to stinking Angela Cox-Skeete has NOT improved the QUALITY of your silly contributions. YOU ARE STILL RECOGNIZED BY EVERY CONTRIBUTOR AS BU’S RESIDENT DLP YARD-FOWL IDIOT. IT’S A PITY YOU DON’T HAVE ANY SHAME.

    The DLP won the last elections 16-14…. and you’re mentioning that “the outcome of the last election the majority of people does not agree with (me),” especially when the voter turn-out was extremely low?

    Stupse!!!

    Everyone who reads BU knows that you are jackass, semi-illiterate DLP yard-fowl who cannot compose a proper sentence and there isn’t anything you can contribute to this forum that would influence anyone to vote for the DLP.

    Obviously you MUST respond………….. you can’t help it!!!!

    YOU SHOULD TAKE A BREAK FROM BU.


  79. Artax
    You should ignore the trollers.Do not take their bait.If I know them well they will start responding to themselves.

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