Review of Barbados Economy January-March 2019 : Government on Track to Meet IMF Targets
The economy continues to be the focus of the Mia Mottley administration. Although the government should be congratulated for taking decisions unlike its predecessor – to be expected the public has been vocal in response of the austerity measures.
A listen to Governor Haynes reminds the blogmaster of the promise made by the DLP through former Governor DeLisle Worrel regarding projects in the pipeline. It does not matter the government in office, one thing is guaranteed, we struggle to implement.
-David, Blogmaster
Governor Cleviston Haynes delivers the Central Bank of Barbados’ review of Barbados economic performance in the first three months of 2019 and takes questions from members of the media.
CBB Review of Barbados’ Economy (January – March 2019).pdf (519.63 KB)
@PLT
I have no data, so beyond the personal feel good moment of uncapping tax on residential properties, have no idea the contribution this would make to the Treasury. Moving the cap UP periodically may have the same/larger fiscal effect.
In 2015, an acquaintance who had holidayed many times in Bim, opted to buy an expensive property elsewhere. (and 2 siblings followed suit) Apart from the point-point travel time to Bim, and concerns about ‘getting money out’ based upon extrapolations of the political direction of the day, the primary $$ knock against Bim were the transactional costs versus the property tax.
While real estate transactions in Bim tend to be a well guarded secret, you will note in the same red book, how many took in excess of 18 months to occur. Buying upper end property in many of the ‘tourist destinations’ is not for the feint of heart or those who value rapid action.
While there was a conversation on T&CP earlier, taxing property needs similar attention, esp if the future is more multi-story buildings. I was told, a reason why so many of the ‘wall structures’ remain unpainted/unrendered is that until such occurs, the improvement is not deemed complete, and hence the tax additions do not accrue. Barbados also has a significant number of zero based buildings based on use (places of worship as an example), which are likely to change.
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Such a long winded reply that does not address WS contribution. Instead we get a cut and paste that is not relevant. You worse than Waru….
MAn shuddup
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In fact you made the point for WS.
Three years ago the man was a dog
Today the man walks with your god
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Theogaz
I have seen Maloney build houses for Ross University (a private body) on land leased to him prior to 24 May 2018. The government washed its hands after taking a pay out. I have seen Maloney doing work on the Empire Theatre, leased to him prior to 24 May 2018. The land for Hyatt was also transferred to Mark Maloney prior to 24 May 2018. Kindly point out to me what projects Maloney has been granted since the 2018 election? #readingtuhrespondnottounderstand
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Wunna think people foolish…
Given the opposition to Maloney deals with the past administration one would have come to the conclusion that Maloney’s days were done.. Instead we see a lot of wishy-washy talk, smoke and mirrors and a ‘reversal’ of previously held positions. That was the point you needed to refute…
https://barbadostoday.bb/2019/04/02/follow-the-law-on-hyatt/
“Speaking to Barbados TODAY on Government’s new proposal, Comissiong said he would have no issue once the proper procedures were followed. He explained though, that Government would now have to make a new application as the building plans were being changed.”
“Prime Minister Mia Mottley recently announced that Government was against the previous plan of having the Hyatt built on two spots in Bridgetown. Instead, she revealed that the US$100 million hotel would now be constructed on three lots after Government’s compulsory acquisition of nearby property.”
I do not have the time to search for all of the discussion on Hyatt. But I remember we had a number of pit-bulls including Mia and Comissiong chewing on the past administration shorts.
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