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Review of Barbados Economy January-March 2019 : Government on Track to Meet IMF Targets

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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)

 

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106 responses to “Review of Barbados Economy January-March 2019 : Government on Track to Meet IMF Targets”

  1. Miller Avatar
    Miller

    “The new projects, including the Kooyman retail store and the Sagicor Retirement Village, are expected to boost growth in the second half of the year and the Bank now estimates that overall growth will range between 0% to 0.25% for 2019. However, given the potential projects in the pipeline, a strengthening of the pace of activity is anticipated in 2020 and beyond as the structural reforms to enhance competitiveness and the ease of doing business take root.”
    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    Do these “new projects” include any forex earning projects like the Hyatt which has been in the investment pipeline for a number of years and counting and has been trumpeted by this governor and his predecessor as a major game changer for the country’s economy and forex earning capacity?

    Not a word from the guv about the forex saving/earning potential of the new age agribusiness like the cannabis-based industries which investors, manufacturers and brand name retailers in more ‘enlightened’ jurisdictions are about to make a mint out of while Barbados continues to arrest people for possessing a $10.00 bag of weed to make a herbal infusion.

  2. Dentistry Whisperer (M. Pharm. D) LinkedIN Avatar
    Dentistry Whisperer (M. Pharm. D) LinkedIN

    BU, I dare you to ask Duguid to show his Convocation papers as a DDS (Dental surgeon). They are non existent according to “freedom of information” in Ontario and Canada The biggest scam since Rawdon Adams’s Bitcoin. “Wake up White people”. Mia’s 3rd flip-flop on Public Transport. VOB David Ellis’ days may be in jeopardy. M. Pharm.D   

  3. Mariposa Avatar
    Mariposa

    Huh nuff sweet talk and smoke and mirror policies
    Nuttin said on how and when these austerity measures would cease with the beneficiaries being the financial Institutions and the people being the casualties

  4. Hal Austin Avatar
    Hal Austin

    Are Ontario and Canada the same country?

    By the way, are we going to discuss stagnation in Barbados? Or does BERT prohibit this?

  5. Hants Avatar
    Hants

    “Statistics Canada announced that Canadian “direct investment abroad” reached more than CAN$1.2 trillion by the end of last year, a 10.4 per cent increase, with Barbados receiving the fourth largest amount – CAN$$64.8 billion.”

    http://www.nationnews.com/nationnews/news/239613/biba-rejects-charge

    BILLION DOLLAR QUESTIONS ?

    How much of the CAN $ $64.8 billion. did the Barbados government collect in tax ? 1% is CAN $1.48 BILLION or 2.2 BILLION BARBADOS DOLLARS.

  6. Hal Austin Avatar
    Hal Austin

    Plse remind me, one per cent of Can$64.8bn is what again? Does 1 per cent mean one out of 100?

  7. Wily Coyote Avatar
    Wily Coyote

    Take all THE BORROWED MONEY and fail TO REPAY PREVIOUS LOANS out of the equation and what you get is WORSE THAN BEFORE BERT AND ERNIE APPEARED. Massaging the numbers is temporarily making the situation appear better however it steadily getting worse. Central Bank suspiciously quite on how the forgiven repayment negotiations are going, silence tells Willy these negotiations are not progressing favourably for the Barbados government. If theses repayments are not settled in Barbados favour Argentinean consequences can be expected.

  8. Hants Avatar
    Hants

    Gaming and taller buildings are part of the vision of the transformation of the Barbados tourism industry says Kerrie Symmonds, Minister of Tourism and International Transport.

    While speaking at Connect Barbados 2019 at Hilton Barbados, he indicated some of the concerns that can impact investment and archaic legislation that can impede progress, and the need to make changes to remain competitive.

    Gaming has been a controversial topic in Barbados even though there are other forms of “gambling” that exist. According to Symmonds, “You cannot realise the full scope of your revenue potential simply because of the fact that there are some attractions that you cannot have. We all know that there is a tremendous interest in the pursuit of gaming tables and that is big business and it is a revenue stream that is sought after everywhere, but Barbados has never gone there.

    https://www.barbadosadvocate.com/news/tourism-industry-changes-coming

  9. Hants Avatar
    Hants

    Barbados offshore taxes rates are very low, ranging from just 2.5% down to 0.5% of income earned. Barbados does not charge any withholding taxes on dividends, interest, royalties or management fees paid to the Canadian parent company or Canadian shareholder. In addition, capital gains are tax exempt in Barbados.

  10. Hants Avatar
    Hants

    The future ?

    GAMBLING AND MARIJUANA legalised for personal use?

  11. David Avatar
    David

    Interesting discourse going on next door in T&T. We can learn? This is reputed the strongest economy in the area with heavy interest in Barbados.

    TnT PATRIOTS

    11:23 AM (2 hours ago)

    Here is basic common-sense practical stuff, not theory:
    You can’t cut your way to growth. You can’t run up deficits in boom times and then try to reduce them in recession. You can’t lower interest rates in boom times and raise them in recessions. You cannot squander forex reserves to maintain lifestyle and overvalued currency, especially in a recession. You cannot overheat the economy in boom times and then dry up liquidity and credit in a recession. You cannot be a State Capitalism economy subsidising failed State companies with debt and withdrawals from rapidly dwindling forex reserves. You cannot increase State spending in boom times and then reduce it in a recessions.

    Most of all, you cannot fool the people and the world with cooked-up economic data from a political-influenced and managed Government department!
    Soon, you will hear of increased borrowing and more withdrawals from the H&S Fund that will be used for election spending but they will attempt to disguise it as economic stimulus. This is similar to UNC in 2014 and 2015 (more evidence they are the same backward tribal political parties) and the results will be the same: you and future generations will be burdened with PNM and UNC debt and T&T will soon be an economic basket case with world-record crime, massive social problems, and a subject of research for academia and global institutions of learning re: how to destroy a nation with failed economic policies.

    You cannot support failed & rejected socialist/communist policies and nations when you are an absolute failure with a backward State capitalism economy while the world is booming, example:
    Fed keeps interest rates steady as US economy motors along

  12. William Skinner Avatar
    William Skinner

    Question:

    What happen to all de talk about the Hyatt being too tall/high? What happen to all de talk about the poor people in Bayville and surrounding areas in the city being “robbed” of de beach ? All the de about the negative effects on Bethel church ?

    Answer:

    The politics of the decadent Duopoly.

  13. David Avatar
    David

    @William Do you know if the TP plan has been revised? Has the EIA and others studies been completed?

  14. William Skinner Avatar
    William Skinner

    @ David

    I asked a few questions; I gave an answer. If you know differently , you have an obligation to share it with your readers.

  15. Hants Avatar
    Hants

    ” The Minister revealed, “The legislation has not been settled but this is where we want to go, for mega investments there would be the facility of having gaming tables but it would be in a members setting so that you can’t just go and use the tables by walking off the streets, but you would have to be a guest for a few nights and that sets a price point that removes 90 per cent of our population from being affected by that activity. We target the activity in denominations of US only, unless you are using US currency you can’t play and that removes the ordinary members of society and insulates them form the challenges that may arise from Gaming.”

    GAMBLING FOR TOURISTS AND UPPER CLASS BAJANS.

  16. Georgie Porgie Avatar
    Georgie Porgie

    WILL WE HAVE AN INCREASED NUMBER OF JOBS CREATED SOON AS IS BEING DONE IN THE USA?

    WILL WE HAVE DECREASED unEMPLOYMENT FOR ALL ETHNIC GROUPS AND MINORITIES AS IS BEING DONE IN THE USA?

    WILL WE HAVE AN INCREASED NUMBER OF JOBS CREATED FOR POOR BLACk PEOPLE AS IS BEING DONE IN THE USA?

    WILL WE HAVE DECREASED unEMPLOYMENT FOR POOR BLACk PEOPLE AS IS BEING DONE IN THE USA?

    DO WE HAVE ANY ONE IN BARBADOS WITH A WAND TO ACHIEVE THIS?

  17. Donna Avatar
    Donna

    When a basketball player takes a rebound all the way from the other team’s basket to the edge of his own basket, executes a great pass to the player standing free at the ring where all that player has to do is show boat with a pretty slam dunk……

    But unfortunately you missed the first eight years of the game.

    I’m done, David. Don’t worry!

  18. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    Oh really, so now Barbados is saying Canada don’t know how much of their taxes have been evaded, they can’t count and don’t know what tax evasion looks like..lol

    ……..i only want to know WHERE ALL THE STOLEN BILLIONS GONE…

    http://www.nationnews.com/nationnews/news/239613/biba-rejects-charge

    won’t it be a real shame if the thieves cannot now touch a dime of it, a real, real shame..

  19. TheOGazerts Avatar
    TheOGazerts

    “The fact of the matter is that there were constraints, for example the height of buildings, but we all know this is the era of mega investment.”

    Were limits on the heights of the building an arbitrary decision or was it based on advice from engineers. I thought it was to prevent having too much weight on a limestone (or is Coral) base.

    I missed the connection between having taller buildings and getting more tourists. Do we require taller buildings because building pace is limited and we expect an increase in the number of tourists, hence more rooms? It seem as if it is being suggested that taller buildings will attract more tourists>

  20. Tron Avatar
    Tron

    @ Wily Coyote May 4, 2019 9:55 AM

    I agree with you. The longer the negotiations last, the more hopeless the situation is.

    We must not forget that the contractual interest owed for late payment continues to run all the time. How much interest has already accrued? 500 million, 1 billion USD? Questions over questions.

    Always have your machete handy. We can’t trust anyone. Is the swimming pool filled with fresh water? Enough toilet paper and tins stashed? Barbed wire available, petrol canister in the garage and a flexible first-class flight ticket to New York, London or Zurich reserved?

    After 10 years of DLP terror, it will take 10 years for the financial situation to stabilize before we can even begin to think of an upswing. Even if the BLP succeeds in leading Barbados back into an economic rebound after the mid-20s (which I hope), we must not forget the idiotic, financially uneducated and totally impoverished and blindly patriotic electorate. At some point they once again have so little intelligence that they put their cross on the DLP ballot again. Then the BLP has rebuilt the country for 20 years and new DLP ministers from the lower class will be corrupted and drag Barbados through the mud again. It would therefore be necessary to ban the DLP and restrict the right to vote. I think it would be appropriate if only those citizens who pay at least $5,000 per year in land tax were allowed to vote.

  21. Dame Bajans Avatar
    Dame Bajans

    BIBA can say what they want. Canadian figures would hardly be estimates. The banks are asked to keep records of transfers. Companies would have to declare overseas investments. Even ordinary tax payers have to declare any overseas holdings over $100k Cdn.

  22. TheOgazerts Avatar
    TheOgazerts

    The BIBA does not say anything… One must wonder if they are disputing the amount, the label as a tax-haven, or both accusations,

    Doe the fact that Barbados ranks fourth in this category means tyhat we are punching above our weight.

    A BIBA defense of “nonsensical”, “inflammatory and inaccurate” adds nothing to the discussion. But how does BIBA defends? I suspect producing their own numbers would hurt their business.

    insertion of vhe phrase ‘a tax-haven’ may be the equivalent of the question “Have you stopped beating your wife?”… no right answer

  23. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    “It would therefore be necessary to ban the DLP and restrict the right to vote. I think it would be appropriate if only those citizens who pay at least $5,000 per year in land tax were allowed to vote.”

    Sounds like the plans of a LAND THIEF..once again ready to SET UP the people…delusions of grandeur..

  24. Enuff Avatar
    Enuff

    William Skinner man hush talking shiiite, a rural transport authority now this! The principle of a hotel was never disputed by the BLP while in Opposition. You need to stop polluting the blog, with your constant misinformation. As I read in the newspaper, the approach being adopted to redevelop this site will be done in line with the new planning legislation, with vending facilities included. You’re an analog in a digital world i.e a fossil and keep talking about things you do not understand. 🤣🤣

  25. Miller Avatar
    Miller

    @ Enuff May 4, 2019 2:44 PM
    “As I read in the newspaper, the approach being adopted to redevelop this site will be done in line with the new planning legislation, with vending facilities included.”
    ++++++++++++++++++++++++++++++++++++++++++++++++++++

    How can this site be redeveloped with planning permission without a plan which identifies the source(s) of financing of such an expansive and expensive project?

    Why the cloak of secrecy over this long-in-the-tooth project promoted as key to the revitalization of the Bridgetown ‘conurbation’ and a game changer for the country’s economy and its forex earning capacity?

    In the interest of transparency and the much promised ‘good governance’ why can’t it be disclosed whether this project would be funded from FDI or from local resources, whether Maloney money or PPP?

    Why not tell the people who are the money people behind the project and put a stop to the guessing and rumour mongering?

  26. John A Avatar
    John A

    I see above we compare what’s happening here to Trumps approach in the USA, which basically is the direct opposite of our approach and is therefore worthy of a look. Here we have adopted the tax and strangle approach, where he has set things in place for the economy to run unhindered . With an unemployment rate of 3%, the lowest in 50 years and creating 200,000 new jobs in April alone, no one can now say his approach has failed. The thing here is that with all the new taxes from land tax to bus fare, we are in fact stifling our growth . We have decided to tax persons at source and not allow money to circulate in the economy and then take it in increase vat receipts and other trade related taxes. Remember once businesses do better they will pay more Vat, they will pay more duty and charges at the port, they will employ more people who will in turn pay taxes etc. Trumps argument to his critics in the beginning who said these lower tax rates will bankrupt the country, was that what he gave up in lowering rates and reducing cost to businesses, he would more than collect on sales taxes etc from a growing economy. So there we have a strong stock market, investor confidence, an increased rate of hiring and an unemployment rate at 3 % which is the lowest since 1970. He is not my favourite president, but I have to give him credit that he has delivered on his promises related to the economy and job creation. So the question is what are we going to put in place for growth to occur here, or are we going to continue to try and tax more out of an economy that is showing zero growth, as was just confirmed by the central bank governor in his recent report ?

  27. Hants Avatar
    Hants

    Papers have been developed on the structure of work in Barbados in the private and public sectors, and on pensions.

    This disclosure came from Prime Minister Mia Amor Mottley, who said two sub-committees of the Social Partnership had been mandated to develop the papers

    https://www.cbc.bb/index.php/news/barbados-news/item/9091-prime-minister-papers-on-pensions-work

  28. William Skinner Avatar
    William Skinner

    “Comissiong added, he was of the view if and when the EIA is done, it would reveal that the construction of the hotel “is not permissible” for a number of reasons including damage to the physical and architectural landscape of Bridgetown, the county being stripped of its UNESCO World Heritage Site designation and the impact of access to one of the island’s most “prized” beaches. ”

    Loop News 25 June 2018

  29. Hal Austin Avatar
    Hal Austin

    @ Hants,

    Who elected the so-called Social Partnership? Will turkeys vote for Xmas?

  30. Georgie Porgie Avatar
    Georgie Porgie

    CAN BU READERS INTERPRET THIS POST FOR ME PLEASE ?

    Dear David, I write this letter to ask you to employ editorial fiat and append a right-hand oval (cannot be a left-hand one) to the political writings of a selected group (I will forward those under confidential cover) as a warning to naive readers that they run the risk of twisting themselves into bumbling dizziness and injury if they embrace such self-incriminating balderdash!
    I hope you can ‘see your way’ to help me out here as I really like this blog and would not want to terminate you or get my peeps to investigate this site.
    Always your wing-man
    DPD Word

  31. Georgie Porgie Avatar
    Georgie Porgie

    ARE WE TO UNDERSTAND THAT ONE BLOGGER I.E DPD CAN REQUEST THAT THE CONTRIBUTIONS OF ANOTHER LONG TIME BU BLOGGER NOT BE POSTED IF DPD DOES NOT LIKE THE POST….ESPECIALY WHEN THERE IS NO CURSING OF HIM OR ANYONE ELSE

    ARE WE HAVING FREEDOM OF SPEECH PROBLEMS ON BU OR BARBADOS NOW

  32. David Avatar
    David

    @John A

    How is it remotely possible to compare the workings of the US economy with that of Barbados giving consideration to our forex generating limitation?

  33. David Avatar
    David

    Confidence in Barbados real estate returning, says Terra’s Haydn Hutton
    BSJ News DeskMay 4, 2019

    Confidence seems to be returning to the real estate market but there’s still a good distance to go. says Haydn Hutton, one of the top executives at Terra Caribbean, in the latest edition of the company’s publication The Red Book.

    Mr. Hutton, whose report always forms the benchmark article of the publication, says this year capital may start flowing back into the Barbados market, but we can “look for continued softening in the over-supplied segments.”

    He adds that “It would appear that after ten years of sluggish market conditions, and with a noted increase in trading volume and sentiment over 2018, we can say that the trajectory of the market appears to be changing.”

    He says that the return to confidence has been due to the change of the government, noting that, using an analogy to Wall Street, “the proverbial bell rang in the form of 30 seats, an IMF program, successful debt re-profiling, and an unprecedented corporate tax reform.”

    https://www.broadstjournal.com/post/investors-showing-renewed-confidence-in-barbados-real-estate-says-terra-caribbeans-hutton?fbclid=IwAR04ohdIZCeF622_AwyYFVBjrhzvPF9Vc2u-x5mfbGdgBTHAkuwZ14Fz_Zc

  34. Georgie Porgie Avatar
    Georgie Porgie

    BU READERS

    YOU MUST BE PROTECTED FROM A TERRIBLE FATE

    Dear David, I write this letter to ask you to employ editorial fiat and append a right-hand oval (cannot be a left-hand one) to the political writings of a selected group (I will forward those under confidential cover) as a warning to naive readers that they run the risk of twisting themselves into bumbling dizziness and injury if they embrace such self-incriminating balderdash!

    Allow me to provide examples of why this symbol can help save your readers a terrible fate.

  35. Georgie Porgie Avatar
    Georgie Porgie

    BY THE WAY I DID NOT WRITE THE ABOVE TO DAVID

    DPD COULD NOT TAKE THE HEAT FROM THE “RIGHT WING” ARTICLES I POSTED

    SO HE BEGGED FOR CENSURE

    BEWARE CENSURE IS COMING TO BU

  36. Georgie Porgie Avatar
    Georgie Porgie

    WILL ALL NAIVE BU READERS PLEASE RAISE YOUR HANDS PLEASE

    WILL ALL NAIVE BU READERS WHO NEED DPD TO READ AND SPELL AND UNDERSTAND AND INTERPRET FOR YOU, PLEASE RAISE YOUR HANDS PLEASE

    WILL ALL NAIVE BU READERS WHO NEED DPD TO DECIDE WHAT YOU SHOULD OR SHOULD NOT BE ALLOWED TO READ FOR FEAR THAT YOU MAY EXPERIENCE A TERRIBLE FATE, PLEASE RAISE YOUR HANDS PLEASE

  37. John A Avatar
    John A

    David it is all relative and you missed the point. The point was 2 different approaches with 2 different results. One where an economy is allowed to breath and the other where taxation and contraction is the approach. No one was comparing economic output of the USA to this island. The point is 3% unemployemt is the same 3% regardless of country, as it takes in the releclvant populations per country and factors the relevant percentage based on that. What forex challenge you talking about anyhow? THe central bank just reported the reserves had clipped a billion dollars US. That takes us back to levels left by Owen Arthur with more to come in from other sources in The short term according to The governor. The challenge now is to put those reserves to work and promote growth with them, especially in areas where further foreign exchange can he earned. Or you think we should do like the local banking system and just pack up money in savings accounts and don’t put the money to work?

    As for the quote from Terra, if you going refer to one comment refer to the others too. Especially the one that speaks to the massive inventory of unsold condos and the fact that we have sold no top end properties last year in excess of $10 million dollars. Also remember to mention that long term high end rentals are down badly monthly, with owners now receiving 30 percent less in rent for the same property than before. Add to that the 33% increase in Land tax on properties in excess of $800,000 Bds dollars in the last budget and what you got? You got no incentive for people to buy second properties for long term rentals as an investment anymore. When you done read those pages turn to where Terra says because of the poor returns on rentals and massive unsold inventory, they see investors maimly turning to hotels as investments. Don’t just pick out the sweets and share get the book and read in totality.

  38. Hants Avatar
    Hants

    Read.

    https://issuu.com/theterragroup/docs/the_red_book_2019_/1?ff

  39. David Avatar
    David

    @John A

    Your reasoning remains elusive to a simple blogmaster. Carry on.

  40. Wily Coyote Avatar
    Wily Coyote

    @JOHN

    BLOGMASTER has difficulty with the YING YANG Concept.

    Everyone appears to be fixated on one or two minor hotel or retirement projects being a saviour for Barbados economic ills. Definite problem here for theses individuals to see and understand the BIG PICTURE and the serious remedies required for economic stability.

  41. Enuff Avatar
    Enuff

    William Skinner
    Commissiong’s statement was about what he believed (note he said in his view) an EIA would reveal about the then proposal’s impact. In light of a NEW proposal being developed with an accompanying EIA (according to news reports), your point is moot at this time. In any event, the first rule in planning law is: ‘each application is determined on its own merit’. I await proof of the current government ministers or PM opposing the principle of a hotel while in Opposition?#analoginadigitalworld

  42. John A Avatar
    John A

    Hants thank you I was just looking for it to share. It is a well published book and balanced. Thing is you have to go through it. For instance the softening in beach front sales is a concern. We know the South coast sewage issue was a concern but what affected the west coast sales? How do we pull down the inventory of already built properties so that new projects can have a chance of being sold? Many of these properties have been already discounted how much further do they need to be discounted to sell and finally how much worst has the situation been made by a 30% increase in property taxes on the higher end? Serious concerns here no doubt.

  43. John A Avatar
    John A

    @ Willy the thing is though that while the Governor in my view does an excellent job sharing the numbers with us now in a timely manner, what we need is for a group to now break it down in smaller blocks. Like the bankers association could focus on certain aspects and explain the impact to the average Barbadian. The Realtors could share with us the risks in this economy with buying investment properties, In light of the last budget. The Information is available but it comes at you like a large steak, it needs to then be broken down into chewable mouth fulls by people free of political preferences.

  44. Fractured BLP Avatar
    Fractured BLP

    The Barbados economy is on the upward trajectory ……in essence that is the Central Bank of Barbados view of things for their January to March 2019 report !

    And I agree with the CBB.

    Here is why :

    1,802 public officers were laid off by the BLP administration before December 31st 2018.......after being told on May 25th 2018.....better days are coming !

    Every district / community have endured garbage pile ups since May 25th 2018……after being told that the BLP has the answer to clean up Barbados !
    With the BLP administration abolishing the NSRL to bring down prices of goods & services……prices of the same items have sky rocketed since the abolition of the NSRL…..with the cry ” Mia Cares ” !

    And like Buju Banton sang……” I can go on & on ……untold stories ”

    Blasted Lying Party a.k.a BLP

  45. Tee White Avatar
    Tee White

    Buying into neo-liberal economic dogmas will take you nowhere in understanding our economic situation. The issue is not just about jobs, but more importantly, the standard of living that the job enables you to have. After all, there was full employment under slavery. The government’s IMF approved BERT programme is simply the application to Barbados of these neo-liberal economic dogmas. As such its primary aim is to achieve what these programs are intended for, namely reducing the amount of the wealth consumed by the working people and thereby increasing the amount consumed by the rich and super rich. Therefore, as long as a government is heading in that direction, the IMF will give them a clean bill of health. Christine Lagarde likes to praise Grenada as one of her success stories in the Caribbean, while the unemployment rate there is around 24% and over 30% of households are below the poverty line.

  46. David Avatar
    David

    @Tee White

    You neglected in your analysis to comment on how as a nation we got here under the stewardship of the duopoly. In addition you have not mentioned the underlying household behaviour responsible for influencing policy making.

  47. Tee White Avatar
    Tee White

    Well David, I’m actually writing something longer on precisely your first point but was trying to keep this post short

  48. John A Avatar
    John A

    When the father of the Automobile Henry Ford was asked how he would judge a good economy he simply said this. ” When every man or woman who wants a job can have one paying a fair wage then we have a sound economy.” His dream was full employment for all or as close to it as was possible.

  49. NorthernObserver Avatar
    NorthernObserver

    @PLT
    because this was discussed recently and I did not know. This info was within the Terra red Book

    • Land Tax:
    1. Site Value – Unimproved Land – 0.6%
    2. Improved Value – Residential
    – First US$95,000 – 0%
    – On > US$95,000 but < US$250,000 – 0.1%
    – On > US$250,000 but < US$625,000 – 0.45%
    – On > US$625,000 – 0.75%
    NB:Propertytax iscappedatamaximumofUS$30,000onresidences

  50. Hal Austin Avatar
    Hal Austin

    You neglected in your analysis to comment on how as a nation we got here under the stewardship of the duopoly. In addition you have not mentioned the underlying household behaviour responsible for influencing policy making.(Quote)

    Plse explain in plain English what this means.

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