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Mini Budget Day in Barbados

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To the observer of the Barbados space post 2018 General Election, there has been non stop activity generated by the newly installed government of Barbados since taking the reins. There is an air of expectancy about what the Prime Minister will convey to citizens.

The unprecedented decision by the government to trigger a selective default has committed Barbadians to travel an uncharted path.

Many Barbadians although discomfited by the state of affairs that will for a long time prevent any reference to Barbados being a model country for others to emulate, appreciate that affirmative action must be taken.

The Barbados brand has received a huge dent!

 

 

 

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298 responses to “Mini Budget Day in Barbados”

  1. PoorPeacefulandPolite Avatar
    PoorPeacefulandPolite

    “Selective” will be the latest watchword. Watch now for “selective taxation”.

  2. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    The two things that will define the Mini Budget will be

    1.the extent to which Madamoiselle Prime Minister Mottley WILL GO AGAINST THE EDICTS OF THE IMF &

    2.The extent to which she shifts the compass to enfranchise the private sector and the entrepreneurs

    The innovation matrix that is employed to give easement YET NOT DEVIATE FROM THE EDICT OF OUR MASTERS will set the mood going forward for the next 6 months

    During which time her “Ministers in the Ministry of…” will hopefully get enough practice to appear as if they know how to do anything.

    And by then, the “tsar tier” will be in place hopefully managing the economy more efficiently and she will have the monitoring mechanism that will permit her to see how the administration is working AND THE DLP PLANTS ARE CONTINUING TO THWART THE SYSTEM.

  3. Hants Avatar
    Hants

    @ pieceuhderockyeahright,

    Excuses for failure to deliver.

    THE DLP PLANTS ARE CONTINUING TO THWART THE SYSTEM.

    The economy is in a worse state than we thought.

    The DLP failed to prevent the sargassum from coming to Barbados so we have to build a plant to utilize it.

    We will also use fishing boats ans trawlers to bring sargassum from other areas in the ocean.

    We will ask David BU to stop Hants from writing shiete. lol

  4. Mariposa Avatar
    Mariposa

    PDYR. Wishful thinking on your part once the default was triggered Mia only option would be that of taking the IMF reccomendations in order to secure the loan. The loan is a vital part in how barbados go forward in decreasing its debt level
    The mini budget cannot detour in any way shape or policy from not sensitizing the public about the realities of the pain and suffering
    The long and short of the story Mia in the mini budget Mia cannot have a do over of all those promises she stated in the manifesto most of the free giveaways have now become null and void and being replaced by the IMF dictates followed by a harsh dose of economic realities for the nation

  5. Sargeant Avatar
    Sargeant

    @Hants

    Don’t worry you are on safe ground Bush T write a lot of jobby and he hasn’t been banned……

  6. Hants Avatar
    Hants

    How many ministers does it take to…..

    http://gisbarbados.gov.bb/blog/collaboration-key-in-sargassum-battle/

  7. Bernard Codrington Avatar
    Bernard Codrington

    Wuh Loss! Whunna on here bright and early this morning talking shaving cream. Why not wait for the mini-budget and then properly assess it?

    PUDRYR seems to know what is in it. Now we know who Mia’s Chief Financial Tech Adviser is. He gets a first look in.

  8. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    @ Brother Hants

    You see why Madamoiselle Prime Minister Mottley HAS TO GET A TSAR TIER TO KEEP AN EYE ON THESE CLOWNS?

    “…Emphasising that the issue was being treated as matter of urgency, Mr. Prescod said “all of the [relevant] agencies were brought in; all the technology that is relevant we discussed that but we started with that we have.”

    And as with all GIS photoshots, the ingrunt cameraman does tell de suspects sorry subjects to “point heah” or “hold dat”

    You could imagine effing Madamoiselle Prime Minister Mottley was a sheeple like her 3 “Ministers in the Ministry of…” what dem would have had her hold to examine when she was viewing the shyte waterfalls all along Hastings ?

    Steupseee

  9. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    But in all seriousness though.

    De Ole Man Shall suggest to the New Administration the establishment of

    “Duth Free Enclaves”

    These merchandising venues SHALL BE PERMITTED, uNDER PAID LICENSE, ANYWHERE ON THE ISLAND? Or at a specific venue to begin with.

    ONLY FOREIGN CURRENCY SHALL BE SPENT THERE

    THERE SHALL BE A CENTRAL, VIRTUAL AND PHYSICAL, MECHANISM to monitor/record all transactions at these venues, INCLUSIVE OF IMPORTED INVENTORY, $$ Paid for that inventory, AND NAMES OF CUSTOMERS.

    Said system to be connected to visitor arrivals etc.

    BAJANS will also be permitted to shop there but eill only be able to shop using Forex

    All Forex physical and virtual SHALL BE CONVEYED TO THE GoB

    A stricter more proactive Price Control Regime and Consumer Rights agency Will Be Enforced

    There SHALL ALSO BE A REQUIREMENT THAT MEMBERSHIP RATHER QUALIFICATION FOR SAID Duty Free Enclave shall require that awardees shall employ x staff

    Said personnel SHOULD BE NEWLY EMPLOYED STAFF (AND NOT TRANSFERRED STAFF)

    CHECKS OF PERSISTENT STAFFING AS PER INDIVIDUAL AWARDS WILL BE CONTINUOUS AND BREACHES WILL INCUR FINES AND OR TERMINATION OF SAID STATUS

    THREE OBJECTIVES BEING FOREX, LOWER PRICES FOR SUFFERING BAJANS AND JOB CREATION

    PREFERENCES WILL BE MADE FOR SMALL BUSINESSES AND PRIVATE SECTOR COLLABORSTIONS WITH SMALL BUSINESSES THAT INCORPORATE FAVOURABLE STATED SHAREHOLDER AGREEMENTS

    De ole man ent too bright bout dese tings dem so forgive all de niceties but I tink we gots to be innovative and realize dat everyone ent going be a programmer or snivel servants.

    Watch muh…

  10. Bernard Codrington Avatar
    Bernard Codrington

    PUDRYR at 10 :27 AM

    To store and execute these processes I think you will need to employ the Blockchain platform. You will now have to employ the grandson full time.

    But I get the point(s)

  11. Freedom Crier Avatar
    Freedom Crier

    BLP GOVERNMENT SHOULD UNLEASH OVER BURDENSOME, REGULATION’S, RESTRICTIONS AND RESTRAINTS THAT WOULD ALLOW THE FREE MARKET TO BLOSSOM AND BLOOM.

    STOP TRYING TO CONTROL, CONTROL AND CONTROL THE PEOPLE…THEY ARE IMBUED WITH A CONSCIENCE FROM THEIR CREATOR AND ARE POSSESSED WITH THE SPIRIT OF FREEDOM.

    THE PEOPLE OF BARBADOS SHOULD STRIVE TO DEVELOP THEIR INDIVIDUAL’S POTENTIAL TO THE FULLEST.

    “MAY GOD HELP THOSE WHO HELP THEMSELVES”.

    https://i.pinimg.com/736x/47/c0/d1/47c0d18b8a38c0926bf4008fa24fdc4d–liberty-politics.jpg

  12. Tron Avatar
    Tron

    @pieceuhderockyeahright June 11, 2018 10:27 AM

    Hope you remember that Big Sinck had that glorious idea called duty-free zones two years ago. Nothing happened. Such zones with low prices for hard cash will completely undermine the status of the Mickey-Mouse-Dollar with low purchase power and excessive pricing.The tourists and expats will be the new gods under such a regime.

  13. Hants Avatar
    Hants

    The mantra DLPDIDIT in de house of assembly as she hits de groun runnin as promised.

    Good name for a race horse like de one name donicodidit.

    Still waiting to hear exactly what she will do to save Barbados that will cause me the least pain.

  14. Tron Avatar
    Tron

    National Socialist Plantation Tax (NS-PT) is falling. I already see lots of Wabenzis queuing in front of Simpson Motors to buy a new Mercedes Benz.

    Trump is already fuming … nobody wants his American trash cars 😉

  15. Enuff Avatar
    Enuff

    Watch we!!!

  16. Freedom Crier Avatar
    Freedom Crier

    Hold On To Your Seats Barbados…

    https://www.brainyquote.com/photos_tr/en/b/benjaminfranklin/129817/benjaminfranklin1-2x.jpg

  17. Tron Avatar
    Tron

    Massive wage hike for public servants DESPITE recession and ever decreasing productivity. Also, unwillingness to fire any public servants. New gov does not touch the new plantocracy, the Barbadian public service. As expected.

    Also: Higher taxes on tourism makes Barbados as a tourist destination even more expensive.

    The new gov expect tourists and foreign creditors to finance the lavish lifestyle of the Barbadian masses.

    Doors closed for any IMF loan!

    We will see how long the US-Dollars last from the Credit Suisse ponzi scheme.

  18. Sargeant Avatar
    Sargeant

    Mini Budget?

  19. Tron Avatar
    Tron

    Also higher pensions?

    You need TWO bottles of rum to make the budget fit to the IMF specs.

    No way for any IMF loan. That is not a political statement against anybody. Simply a mathematical calculation.

  20. Enuff Avatar
    Enuff

    Tron

    You really think the IMF ain’t get an idea of what is being presented? Two words in their note: infrastructure and equality. Watch we!

  21. David Avatar
    David

    2018 BUDGET MEASURES AT A GLANCE…

    *NSRL TO BE REPEALED FROM JULY 1ST.

    *BARBADOS REVENUE AUTHORITY TO WRITE OFF TAXES CONSIDERED UNRECOVERABLE FROM 1968 TO 2000.

    *FIVE PER CENT WAGE INCREASE ACROSS THE BOARD FROM APRIL 1ST 2018 TO MARCH 31ST 2019.

    *ABOLISHING UNDERGRADUATE FEES AT THE UNIVERSITY OF THE WEST INDIES FROM NEXT SEMESTER…WITH PROVISO THAT GRADUATES GIVE BACK A SET NUMBER OF HOURS UPON COMPLETION…

    *ROAD TAX TO BE ABOLISHED FROM JULY 1ST AND REPLACED BY A FUEL TAX…40 CENTS PER LITRE ON PETROL AND DIESEL, FIVE CENTS ON KEROSENE.

    *$15 MILLION BEING ALLOCATED FOR THE PURCHASE OF GARBAGE TRUCKS.

    *NEW INCOME TAX BANDS…UPPER INCOME TAX BAND OF 40 PER CENT $75,000 PER YEAR AND UP.

    • CORPORATION TAX GOING UP FROM 25 PER CENT TO 30 PER CENT.

    • FROM OCTOBER 1ST ALL ONLINE TRANSACTIONS WILL BE SUBJECT TO VALUE ADDED TAX…

    *OLD AGE PENSIONS BEING RAISED FROM $155 TO $225.

    *OPENING HOURS OF SIR WINSTON SCOTT AND RANDALL PHILLIPS POLYCLIONICS BEING EXTENDED TO 24 HOURS…

    *$14.5 MILLION BEING ALLOCATED TO PAY OFF MONEY TO SUGAR FARMERS OVER A THREE YEAR PERIOD.

    *UPGRADE OF THE ACCIDENT & EMERGENCY DEPARTMENT.

    *THREE TEMPORARY ADDITIONAL JUDGES TO BE APPOINTED TO HELP CLEAR BACKLOG OF 10,000 CRIMINAL CASES.

    *INTRODUCTION OF AN AIRLINE TRAVEL AND TOURISM DEVELOPMENT FEE – OF US$70 ON AIR TRAVEL OUTSIDE OF CARICOM AND US$35 WITHIN CARICOM.

    *FROM AUGUST 1ST, AN ADDITIONAL $1.50 A DAY ON WATER BILLS WITH $1.25 GOING TO THE SSA FOR GARBAGE COLLECTION AND THE REMAINING 25 CENTS TO BE RETAINED BY BWA.
    FOR COMMERCIAL ENTITIES, THE COST WILL BE 50 PER CENT OF THEIR WATER BILLS, WITH HALF GOING TO THE SSA AND THE OTHER HALF TO THE BWA.
    THE PROCEEDS ARE ALSO TO AID IN THE MAINTENANCE OF SEWAGE SYSTEMS.

  22. Hants Avatar
    Hants

    @ Sargeant,

    $90.cad departure tax.

  23. Tron Avatar
    Tron

    Enuff,

    What means

    “FROM OCTOBER 1ST ALL ONLINE TRANSACTIONS WILL BE SUBJECT TO VALUE ADDED TAX…” ???

    Incoming, outgoing, what? Every wire transaction?

  24. Enuff Avatar
    Enuff

    Ask the Minister of Finance. I am just a BU blogger that supports the party.

  25. Tron Avatar
    Tron

    I will call my neighbours later to figure out what is going on … 😉

  26. Hants Avatar
    Hants

    @ David,

    ” US$70 ON AIR TRAVEL OUTSIDE OF CARICOM ”

    Does this replace the existing departure tax ?

  27. Wily Coyote Avatar
    Wily Coyote

    And the bloggers thought Stuart was BAD, Madame primeminister is his equal, inconceivable mini budget.
    Spend more and reduce TAXES to poor consumers, extra tax for off shore companies and tourists, GUESS WHERE THIS IS GOING TO PLACE BARBADOS. Next step is offshore local banking industry is going to react and the results are not going to be perty. Local financial and banking system headed for collapse.

  28. Tron Avatar
    Tron

    Wily,

    Is VAT on transaction only for OUTGOING or also for INCOMING transfers? In any case that is a 15 % devaluation.

  29. David Avatar
    David

    Have a read, she had to spread the pain she said.

    https://barbadostoday.bb/2018/06/11/full-text-of-budget-speech-by-prime-minister-and-minister-of-finance-mia-mottley/

  30. Sargeant Avatar
    Sargeant

    The LOO will reply to the “mini” Budget tomorrow, that should be fun.

  31. David Avatar
    David

    @Sargeant

    He will be prepped by Caswell et al.

  32. Tron Avatar
    Tron

    David,

    Thanx a lot.

    The quote is: “Mr. Speaker, a large number of Barbadians now engage in online transactions for both goods and services, be it Amazon, EBay or Netflix. They currently do not pay VAT on these transactions.”

    OK, that is a good move, fair and square. Only deals from abroad.

    As always (at least always) Tron tries to be fair and balanced. It is nothing personal, only business.

    Will evaluate the whole speech later this week.

  33. Hants Avatar
    Hants

    @ Sargeant

    ” US$70.00 and for those within CARICOM US$35.00. This fee will be IN ADDITION to the Departure Tax (.US $ 27.50)

    so US $97.50 = cad $126.

    I will leave it to others to comment.

  34. Hal Austin Avatar
    Hal Austin

    The mini-Budget was noticeable for what was omitted as it was for what was included. It was far from radical. Nothing about the central bank and any re-organisation; nothing about the NIS and re-organisation. Nothing about re-organising the civil service; nothing about the introduction of technology across every section of the public sector.
    She has reverted to the nonsense of ‘free’ higher education, including post-graduate study. This is so irresponsible it is perverted.
    But, she has said, this is as Budget in three parts.

  35. BaffyBushieBonny Gotma-Bawlin and the list goes on Avatar
    BaffyBushieBonny Gotma-Bawlin and the list goes on

    Interesting, this. A halfwit who CAN ONLY WRITE IN SHOUTY CAPITALS BECAUSE OF HIS EYES rumbles with a simpleton who’s worried about acceptance of wot many is callin on de call in in de, er, trinity.

    The human shite is bubbling onto the public street in Barbados, and cretins are taking up bandwith about wedder lil Baby Jeebus wuz a member o dat so-call’ trinity o dat ilk.

    An! De lis! Goes on! In “the Barbados space”.

  36. Wily Coyote Avatar
    Wily Coyote

    David June 11, 2018 1:58 PM

    Based on Barbados percarious financial situation this is not the kind of proclumation the offshore lenders and financiers want the hear. IT may make some local civil servants temporarily jubilant till the reality of the situation sinks in, oh yes this is Barbados and it’s somewhat like REALITY TV, not real.

  37. Hal Austin Avatar
    Hal Austin

    By the way, no reply from the Opposition.

  38. Wily Coyote Avatar
    Wily Coyote

    Tron June 11, 2018 1:56 PM

    Add VAT to the purchase price in bds. $ for payment to the online offshore company, then tax the goods when received in Barbados and additional VAT on appraised value. Might as well have it both ways, good assinine Barbados reasoning. At least one of these will be easy to collect. I can see that an entire new level of BRA civil servant will need to be employed just to collect this new tax.

  39. Wily Coyote Avatar
    Wily Coyote

    @Hal

    “By the way, no reply from the Opposition”

    WHAT WE NOW HAVE AN OPPOSITION ?

  40. Tron Avatar
    Tron

    Great, more jobs!

    Make Barbados great again! 😉

  41. Hal Austin Avatar
    Hal Austin

    VAT on online purchases is a tip to the big bricks and mortar stores who dominate the Social Partnership…

  42. Enuff Avatar
    Enuff

    Hal Austin

    VAT on online stores is a recognition of the death of brick and mortar and the hole in the system.

  43. T.Inniss Avatar
    T.Inniss

    Wily Coyote

    You are making a lot of sense @ 1:52 p.m.

  44. Bernard Codrington Avatar
    Bernard Codrington

    At first blush, a bold attempt to wrestle the budget deficit and the national debt to the ground. But the devil is in the detail.
    I need to get a printed copy of this statement.
    The garbage and sewage tax seems a bit steep and regressive.The the taxpayers did not pay for private septic tanks and suck wells. Why are they paying for those attached to the Sewage systems?

    Where is the wealth tax?

  45. de hood Avatar
    de hood

    David,

    I see your old nemesis is back again with a new ID.

  46. David Avatar
    David

    @Hoodie

    The blogmaster derives a sadistic pleasure in flushing the comments 🙂.

  47. David Avatar
    David

    @Bernard

    The wealthy does not occupy the 50% tax bracket with little to zero allowances these days?

  48. David Avatar
    David

    @enuff

    You are correct, there is significant online trading. Retail behaviour has shifted for some years.

  49. David Avatar
    David

    The LoO will reply tomorrow as is the practice.

  50. Bernard Codrington Avatar
    Bernard Codrington

    Re VAT on online purchases.

    I may be mistaken,but VAT taxes are added ,by overseas suppliers, to online purchases.

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