This report out of the Virgin Islands identifies Barbados, Bermuda and The Bahamas in the top 5 most expensive countries to live in the WORLD. Allow the blogmaster to ask a silly question, is this reality reversible?
Barbados One of the Most Expensive Countries to Live in the Region
This report out of the Virgin Islands identifies Barbados, Bermuda and The Bahamas in the top 5 most expensive countries to live in the WORLD. Allow the blogmaster to ask a silly question, is this reality reversible? https://fb.watch/f2IRNlS95W/
215 responses to “Barbados One of the Most Expensive Countries to Live in the Region”
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@John A
Where we differ in your last comment is that the two must be coterminous.
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Salemite
You stoopid bad tho. WDR!🤣🤣 -
@ David
Yes we differ there as I feel the systems must be fixed first before you throw more money at it. Ideally we should have used the covid period to address these issues when trade was slow. That would of meant we would of been perfectly poised to capitalise on any recovery. Alas however that did not happen.
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As a friend of mine would say “you dont change old galvanise in de rainy months” lol
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@ Cuhdear Bajan August 22, 2022 12:05 PM
The menu aside, we agree in principle: Barbados needs to return to the roots, to the golden age of the plantation economy. Back then, our island was the diamond of the Caribbean.
For almost two hundred years everyone was against the plantation economy, now our locals are begging to finally be allowed to be true patriots, to work on the plantation again.
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John A
Don’t you think it’s about time, we look at removing income tax and consider a kind of sales tax. Since wages are relatively small and we cannot control imports, do you think freeing up incomes to unleash more money in the system will shake up the economy.
Just a question I have been meaning to ask you for sometime. -
@ William
Personally yes I agree with you. VAT to me was the best and fairest tax as it allowed the consumer to decide on if they wanted the item or not. It was a personal consumption tax and had it been properly collected, it would of been ideal for us. The nice thing about VAT is the visotors also pay it so its reach is widespread.
Income tax is way too dificult to collect and leaves much for deflection in ones revenue base. My view would be carry VAT to 22% and do away with all personal income tax. Or leave it at 17.5% and introduce a 5% sales tax. Let the taxpayer decide if they want to buy an item or not. Do not take it out their pocket at source. Also Vat and a sales tax will catch all the suitcase traders and dodgers out there when they purchase anything. Of course for that to work we would have to do way better with our collections. The days of forgiving $500 million in receivables would have to be a thing of the past for sure.
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@ John A,
Vat fraud is rampant in the UK, especially amongst Indian owned businesses owners.
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@ David
Barbados already has a “sales tax,” also known as VAT.
‘Government’ could explore the option.of abolishing personal income taxes, similarly to Bermuda, which would obviously give consumers more ‘spending power.’
Persons in Barbados earning up to $2,084 per month or $480.77, per week, currently do not pay income tax.
But, as I mentioned previously, a payroll tax is levied on Bermudian employers and self-employed individuals.
It is true ‘imports cannot be controlled,’ but, we must also bear in mind that a high level of taxes and import duties are leveled on imports, which are passed on to the consumer, thereby increasing retail prices.
But, ‘government’ would have to reform the present tax system and rationalize the delivery of social services.
The introduction of means testing, for example, would ensure those persons from impecunious households would benefit from tertiary level education, health and day care services, tertiary level education, etc…… more so than those persons who could afford to pay.Additionally, you may have to look at the possibility of allowing market forces to determine bus fares, for example, rather than allowing them to be subsidised by the state, while making provisions for persons below the ‘poverty line.’
In the other Caribbean islands, commuters pay bus fare according to distance traveled, similarly to the stage fares in Barbados up to May 1976, which then PM Barrow replaced with 25 cents island wide fare.
In St. Vincent, for example, bus fare from Kingstown to Georgetown is approximately $8. Someone living in Leeward village of Pembroke has to pay $2 to town and $8 to GT, which is $20 ,per day or, $100 per week in bus fare.We need to look at implementing wholesome, well thought out, economic policy initiatives that take all possibilities into consideration.
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@ John A
Thanks for your response. I wonder why the economist gurus don’t look at bold solutions like these rather than continue to beat dead horsesPeace.
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@Artax
If memory serves this was the roadmap OSA was on with tax reform.
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Tron
VAT fraud is rampant in Barbados as well.
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Yeah should be…… TLSN.
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@ Artax
Your piece above is quite positive. Means testing should be used in every instance of state services.
It should also be extended to free university education. If we abolish personal income tax the well off should have no problem paying their children’s university education.
And now people are going to be looking at personal retirement plans and other services, having more control over their earnings , by not paying income tax , brings into focus , the discipline needed to control ones spending priorities.
Peace. -
@ Mr. Skinner
Thanks.
Although I may deviate from time to time, I believe BU should be a forum in which we discuss opinions and ideas.
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Artax
What about Health services
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Saw it
@ artax -
@ Artax
Yes I agree with you on the means testing and most of that data we already have based on the reverse credits we paid lower income earners in the past. The thing is those persons already pay Vat at the supermarket so they are within the vat net already, hence all that is needed is an adjustment to the reverse credit to take into account the higher vat rate to them. Also if the move to consumer based taxation is properly done we will find that we can actually remove more of the basics from being vatable all together.
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But if personal tax is abolished and VAT increased, wouldn’t those currently not paying tax (reverse tax and compensatory credt beneficiaries) see their spending power reduced?
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@ David
I believe it was Arthur who increased the personal income tax threshold from 15,ooo to 25,000 per annum…… and introduced the reverse tax credit, which was, I write under correction, $600, and subsequently increased to $1,300.
In MY opinion, Arthur, as a trained economist and overseeing the economy at a time it was booming, failed to implement progressive economic policies…… and, more importantly, explore the option of its diversification.
His poverty alleviation program, although a ‘good idea,’ was not well conceptualized and people exploited the system.
A rational, unbiased analysis of his tenure, may reveal Arthur was not as successful as we were led to believe.
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@ Enuf
I addressed that above when i said the credits would be adjusted to take into account the higher vat etc.
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“Salemite
You stoopid bad tho. WDR!🤣🤣”yep…so stoopid that not a fella int investigating me for CROOKERY…
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@ Enuf
I addressed that above when i said the credits would be adjusted to take into account the higher vat etc.
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JOHN A
UNFORTUNATELY YOU ARE NOT ONE OF MIA’S BAG MEN AVANISH PERSAUD OR CLYDE MASCOLL BOTH DISMAL FAILURES ON THE 2 X 3 ISLAND.
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@Artax
“Recall, from July 1, 2018, ‘government’ replaced the annual road tax for private and commercial vehicles…… with a fuel tax. However, owners of commercial vehicles are required to pay an annual registration fee, which is 50% of the existing road tax.”Not quite true…… you do have to pay the Road Tax on a vehicle when it is purchased ….. whether new or 2nd hand! I found this out when I recently purchased a used car. Also, had to pay & get a Weight Certificate. Does the Licensing Authority believe the vehicle’s weight changes overnight once a vehicle is sold??
Btw, it will take a day off work to get that Weight Certificate!!!
Btw, Almost 2 years gone & my truck License plate sticker still not arrived in the mail!!
Btw, same for my Drivers License … camera always not working!!
Efficiency at work! …. and that’s just one Government Dept. -
@William Skinner August 22, 2022 5:10 PM “. Means testing should be used in every instance of state services.
Isn’t means testing cumbersome, bureaucratic, expensive to administer?
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@African Online Publishing Copyright ⓒ 2022. All Rights Reserved August 22, 2022 6:46 PM “not a fella int investigating me for CROOKERY”?
And you know this, how?
Do investigators typically give early notice to people being investigated?
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@ Cuhdear Bajan
Question here is fairness and making sure those who can pay do so and let us look out for those who can’t.
It may be cumbersome but it’s worth it.
Peace. -
@Tron August 22, 2022 2:41 PM “The menu aside”
And why do you not agree with the menu?
Do you believe that {probably white} rice and flour are better quality carbohydrates than cassava, yam, sweet potato and breadfruit?All 7+ billion of us eat carbohydrates. Most people eat some carbohydrate every day, or multiple times a day Why must it be white flour and white rice?
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@Tron August 22, 2022 2:41 PM “the golden age of the plantation economy.”
The plantation economy was a golden age for those who sat in the plantation houses and collected the gold. For the rest, that is for most Bajans it was a horrible time. But telling lies is your strong point.
@Tron August 22, 2022 2:41 PM “now our locals are begging to finally be allowed to be true patriots, to work on the plantation again.”
Nope. Another lie. People are happy to work their own land for themselves as I am. Not a soul asking to return to the plantation economy. And “nope” I don’t believe in your false patriotism.
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I worry about the immediate impact of a 20+% impact VAT on the very poor. Those so poor that they currently pay zero income tax. I worry about having to pay that VAT now and wait weeks, or months for a reverse tax credit.
Poor people need cash in hand NOW, not months down the road.
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“Not quite true…… you do have to pay the Road Tax on a vehicle when it is purchased …..”
@ ks
It is a known fact that persons registering a new or used vehicle have to PAY a REGISTRATION FEE of $400…… which is NOT CLASSIFIED as road tax.
You’ll also notice that owners of ‘hired vehicles’, for example, have to pay an ANNUAL REGISTRATION FEE, which is 50% OF the existing road tax.
The road tax for ‘H’ registered vehicles WAS $600, which has been replaced by an annual registration fee of $300.
Therein lies the DIFFERENCE.
Also, there wasn’t any announcement of the abolition of the weight certificate fee.
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Does the Licensing Authority believe the vehicle’s weight changes overnight once a vehicle is sold??
Btw, it will take a day off work to get that Weight Certificate!!!
Btw, Almost 2 years gone & my truck License plate sticker still not arrived in the mail!!
Btw, same for my Drivers License … camera always not working!!
Efficiency at work! …. and that’s just one Government Dept.XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
SOME IDIOT ALWAYS COMPARING THE 2 X 3 ISLAND TO THE USA.
HAVING LIVED IN SOUTH CAROLINA (COLLEGE), FORT WALTON BEACH & MIAMI FLORIDA (AIRFORCE AND SOME YEARS LATER ADJUNCT PROFESSOR), COLLEGE PARK GEORGIA (IBM) AND CALIFORNIA (BUSINESS & TECHNOLOGY CONSULTANT) NEVER FACED NOT ONE OF THESE ISSUES.
DRIVERS LICENCE OR ID CARDS ISSUED SAME DAY WHILST WAITING.WHICH I HAVE HAD FROM ALL STATES NAMED.
THESE ARE PLACES WHERE THE POPULATIONS ARE IN THE MILLIONS..
BACKWARD ISLAND TO THE FULLEST.
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SOME IDIOT ALWAYS COMPARING THE 2 X 3 ISLAND TO THE USA.
Then proceed to do just that 🤣
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The general population prefer to keep the peg 2×1 . From during the lost decade until present the politicians allow internal devaluation because ti change the peg would be political suicide
I am predicting salary/wages increase next year..
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@ Artax
“A rational, unbiased analysis of his tenure, may reveal Arthur was not as successful as we were led to believe.”In my opinion Arthur had all the goodwill skills and support necessary to transform the economy.
However, along the way, he apparently wanted to be more a political animal than the bright and competent economist he was and what could have been a great legacy did not happen.
A very outstanding intellect derailed by paying too much attention to power and political warfare.
Peace -
Then proceed to do just that 🤣
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BOSS YOU SMALL MINDED PEOPLE DON’T LIKE THE TRUTH.
HAL AUSTIN WAS RIGHT THE 2 X 3 ISLAND WITH ONLY 300,00O IS A FAILED …….
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@ks
Your drivers license can be had from the Pine Office same day.
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Here it is that some people were trying to have a “reasonable argument” and a couple of smart ones have this absent “idiot” stuck in their minds, or more accurately, one of them has me stuck in his craw!
I have never put forward any suggestion that the standard of living in Barbados is better than that in any other Caribbean island. So, I have never called THAT “reasonable argument”. But of course, that was not referring to me, the ONLY ONE who used those exact words just a few days ago.
And as for the US of A, well right now that “great nation” has in its midst, persons running for government whose main campaign promise is to allow certain government officials to be shot on sight. This is only slightly less crazy than what other already elected officials are saying.
In some parts of America, ten year old rape victims are being forced to carry their rapist’s child. Women are being forced to carry fetuses with no skulls, books are being banned for no good reason, history books are being rewritten to rename the enslavement of Africans, “Forced Migration”.
The blasted place is in turmoil, on the verge of a civil war for absolutely no good reason but a feeling of grievance! Grievance, grievance, grievance!
I am not the one dissatified with life in America. It is THE AMERICANS who complain and complain and complain.
I does see dem pon my tv and internet. In the comments section, moan, moan, moan!
Complain and look for bogey men of colour to blame for their misery. That’s what they do.
My Google maps tells me that the US of A is a very big place. Some parts of it, OBVIOUSLY, would be better than others. Some say each state is like a country.
FACTS THAT CANNOT BE REFUTED.
My suggestion is that you try to get me out of the mess that is your mind or your craw!
Try having a discussion without me, especially when I am not there. Am I really so important?
P.S. YOU MAY NOT HAVE ENCOUNTERED THOSE PROBLEMS BUT I SEE OTHERS COMPLAINING ABOUT SPENDING FOREVER AT THEIR DMV. FAMILY FEUD EVEN HAD A QUESTION ABOUT IT.
SEE WHAT I DOES SEE PON MY TV?
NOW YOU CAN EAT OUT YOUR FINE CLOTHES, WHILE I ENJOY WEARING MINE AND WATCHING YOU EAT YOURS.
FIRST/LAST because I was enjoying the reading until you two chimed, one dropping his snide remarks and the other blasting his bilgy bile.
GTFOH
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I have had relatives living in the states starting with my great grandmother and three great aunts, uncle, aunt, first cousin a plenty, second and third cousins galore, right down to my niece who is currently there on athletics scholarship.
Most of them have thrived. But they still have some stories to tell. I listen.
My first cousin with whom I grew up like brother and sister visited me just two weeks ago. He too is doing well. He found opportunity that he couldn’t find here. He says he has not evrn encountered racism…..in FLORIDA.
IT HAPPENS.
I have numerous relatives in Canada and England. Always have. Most of them have done well enough.
But most of my relatives here have done well in Barbados also.
Right now, my best friend’s daughter, who graduated this year from university, where she had been on athletics scholarship is awaiting approval to live and work for the period that supposed to be almost automatic. So many foul ups, they cannot find her documentation she’s been calling and reapplying until they say they will cut her off if she tries again. Something must be lost in the mail. This has been a couple of months. She’s been running around and getting nowhere AND getting an attitude from the workers who have been most unhelpful.
I did not get that from MSNBC, CNN or Young Turks.
IT HAPPENS.
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David,
I have never had any difficulty obtaining my driver’s licence. Same day.
ID used to be – take a quick picture and wait a couple of weeks for pick up. I never had any problem.
Registration of my son was quick and easy.
I had no difficulty getting a passport. I had no difficulty getting my citizenship by descent papers.
Generally, I have had few problems getting necessary documentation.
P.S. I called the Sanitation Authority today and the truck came in one hour.
The lady was pleasant and helpful. Indeed, I made a new friend.
Must be magic!
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Cuhdear Bajan,
Cassava and sweet potato are the easiest crops to grow. And there is nothing tastier than a yellow meat breadfruit. My former mother-in-law used to make a yam pie out of this world.
On Sunday, the mad woman made steamed pudding, pickled chicken with breadfruit from all locally grown and reared produce, herbs, seasonings and all, except for the salt. .Indeed, EVERYTHING came from little more than a stone throw away and some of it from outside my door.
My garden helper/ cousin had breadfruit cou cou and fish he caught off my favourite cliffs up here.
“Life tooo sweet!” he told me.
Later today, my son and I will do eggplant parmesan. Only the parmesan cheese is imported. We use the eggplant instead of lasagne. Eggplants grow like weeds in my garden. Pasta or wheat does not. Basil, oregano, tomatoes – NO PROBLEM.
I have found out quite recently that almost all of my neighbours have started growing SOMETHING.
I feel we are making these things tooooooo hard.
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Cuhdear Bajan August 22, 2022 8:01 PM #: “Isn’t means testing cumbersome, bureaucratic, expensive to administer?”
@ Cuhdear Bajan
Was Google your guide?
Or, perhaps you’re looking at ‘means testing’ from an American perspective, where there are several federal programs to assist persons, for which the financial eligibility rules vary significantly.
For example, a person’s income level may qualify him/her to be eligible for ‘Service A,’ but not for ‘Service B.’
And, different income levels may apply to ‘Services C, D, E and F.’
The variations and complexity of the rules governing financial eligibility would obviously involve an application and interview processes that will obviously be duplicative and, according to you, “cumbersome,” for both applicants and case officers respectively.In Barbados, the eligibility determination process would be much simpler, because, currently, there aren’t any variations in what income qualifies a poor person to be eligible for house repairs from UDC or RDC; home help service from NAB; welfare grant from the Welfare Department.
The Welfare Department, UDC, RDC, NAB, QEH, Child Care Board, for example, have Welfare Officers who interview applicants for social services, financial and other assessments are made to determine eligibility, after which the application is approved…… which is basically a form of means testing.
All ‘government’ has to do is determine an income threshold.
Those same officers could conduct means testing by examining the applicant’s sources of income.
And, then, determine whether or not he/she is eligible for government assistance. -
The economic growth challenge
https://barbadosunderground.files.wordpress.com/2022/08/justin_robinson.png
by PROFESSOR JUSTIN ROBINSON AS THE DEBATE on the challenges facing the National Insurance Scheme in Barbados rages on, I mentioned to a section of the local media that one of the likely causes for the challenges was the sluggishness in the economy over the years.
As a follow-up to that comment, I share with the public the annual growth rate in real gross domestic product (GDP) for Barbados between 1961 and 2021 ( See Table 1).
In Table 2, I present a brief analysis which attempts to break the 61-year period into periods of growth and recessions and possible triggers. The total growth for the period is 112 per cent, which indicates that at the end of 2021 after adjusting for inflation, the Barbados economy was slightly more than twice the size it was in 1961. By way of comparison with similar nations, the data from 1980 provides a more reliable basis for comparison and is presented in Table 3.
The information in the table should be analysed in the context that in 1980 Barbados was starting from a higher base than a number of other Caribbean countries. The data does appear to reinforce the notion of a somewhat stalled economy crying out for new economic growth catalysts.
The cumulative growth for Barbados between 2000 and 2021 was 1.42 per cent, which means that in real terms at the end of 2021 the economy was essentially the same size it was in 2000. In such a context it is not surprising that major institutions such as LIAT, the National Insurance Scheme (NIS) and The University of the West Indies (UWI) would come under financial stress.
There are many stories in the data set for Barbados and many ways to analyse and interpret the pattern of growth over the last 61 years. The 1961 to 1973 period stands out as a period of sustained growth with one year of GDP decline in 1963. I attribute this to the major investments in human capital, the development of a modern tourism industry, major domestic capital projects and a favourable international environment. One issue that may emerge from this analysis is the need for new growth catalysts.
I want to suggest that the data also appears
to tell a story of an economy vulnerable to external shocks which erases periods of economic growth. The oil shocks of 1974 and 1980, Gulf War I in 1990, the September 11, 2001, terrorist attacks, the subprime mortgage of 2008 and the COVID-19 pandemic of 2020 stand out as major events that have triggered recessions in Barbados. The period 2010 to 2019 stands out as a period where the economy failed to have a sustained recovery from the 2008-09 external shock.
I am of the view that the economic and social impact of external shocks is worsened by Barbados’ limited access to financing and foreign exchange. The advanced countries have been able to react to shocks by engaging in major fiscal stimulus and expansionary monetary policies.
However, the limited access to financing and foreign exchange means that Barbados is typically forced to engage in austerity at the precise moments when standard economic policy would suggest a need for the state to be stimulating the economy.
The Prime Minister of Barbados is leading a robust and necessary campaign to address this glaring disparity in the current multi-lateral system.
Barbados clearly needs to pursue prudent fiscal policies so as not to add domestic fire to an already vulnerable economy and build buffers to be able to withstand and manage these external shocks. However, access to adequate financing on reasonable terms is absolutely critical if we are to manage these inevitable shocks without having to engage in counterproductive levels of austerity and be able to preserve critical institutions like LIAT, NIS and UWI. The solution is not to abandon or reduce such critical institutions from the standards of excellence we have gotten used to, but to find ways to sustain and even grow such institutions.
Fiscal prudence and access to financing appear to be necessary corollaries to our need for new catalysts for economic growth and our determination to succeed and not accept less than we had before.
Professor Justin Robinson Professor of Finance, Pro Vice-Chancellor and chairman of the board for undergraduate studies at the University of the West Indies. -
BAJE August 22, 2022 9:45 PM
BOSS YOU SMALL MINDED PEOPLE DON’T LIKE THE TRUTH.
xxxxxxxxxBoss, John 2 is RIGHT. It ain’t got nothing to do with truth.
You said “SOME IDIOT ALWAYS COMPARING THE 2 X 3 ISLAND TO THE USA,” and then went on to do the same thing.
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You have to love BU.
No point is too small to be overemphasized.—x—-
“The A guy” made good sense
His promotion to the A team is long overdue 🙂
I have to run.
Have a great day all.
Try to be nice to each other
sniff, sniff
(I get cussed again)
HAGD, Barbados -
JohnA
“I addressed that above when i said the credits would be adjusted to take into account the higher vat etc.”Noted. How would you ensure that the extra money is mostly spent in Bim and not on shopping trips, amazon and other online shopping outlets? Unlike PIT, don’t VAT and sales taxes rely on spending that’s discretionary in terms of where, how and how much?
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Are we going to have “reasoned argument” today again?
Yesterday was good, MOSTLY.
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SOME OF YOU CAN’T HELP BEING DISHONEST AND DEALING WITH REALITY ON THE 2 X 3 ISLAND PARADISE.
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How are we still getting the basics wrong?
BY GILLIAN MARSHALL
The launch of EZ-Pay to renew drivers licences online was held in mid-August 2020 with much pomp and pageantry. According to the information posted on the Government Information Service (GIS) website on August 19, 2020, Minister Kay McConney saw this initiative as a way of “pushing for a more modern and efficient government” and to “make transactions easier for Barbadians.”
There was also the great initiative of partnering with the Barbados Postal Service to include a delivery service “right to your door, if you so choose.”
Minister Wilfred Abrahams is quoted as saying “Imagine now a situation where you renew your licence online; you pay for it online; and that licence is delivered to you by the Barbados Postal Service, the very next day.
A safe, efficient transaction…. a bonus in these COVID times”. There was media coverage for the first customer that was able to complete this transaction via EZ-Pay and having her licence delivered directly to her home.
Fast forward, a mere 6 months to February 2021. I went through the process to register on EZ-Pay to renew my driver’s licence. There was no option for home delivery.
After several attempts which had me questioning my sanity, I contacted the Ministry of Innovation Science and Smart Technology (MIST) and was informed that The Barbados Licensing Authority was out of cards and therefore that feature was disabled on the site.
As at August 2021 a notice is posted on EZ-Pay stating that “The Barbados Licensing Authority can no longer print driving licences at this time, and we will advise that the receipt received, along with the expired driving licence, must be kept together at all times until printing resumes”.
According to Robert Jackson, “It is not the function of the Government to keep the citizen from falling into error; it is the function of the citizen to keep the government from falling into error.” So, in trying to be a good corporate citizen I have the following questions:
(1) Can someone explain how in 2021, the Government is unable to deliver to the citizens something as basic as a driver’s licence?
https://barbadostoday.bb/2021/08/15/btspeakingout-how-are-we-still-getting-the-basics-wrong/
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Keep exposing the BU FRAUDS….
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