The private sector has welcomed Government’s decision not to impose any new taxes in the 2023 Budget. However the sector is concerned about the lack of detail relating to several key measures intended to spur growth and improve efficiency in the public sector.Responding to the budgetary proposals presented by Prime Minister Mia Mottley on Tuesday, Chairman of the Private Sector Association (BPSA) Trisha Tannis said there was “unanimous support for the announcement of no new imposition of taxes”.“This is commendable by the Government of Barbados considering the challenges being experienced at both the domestic and corporate levels alike, the present inflationary environment, particularly against the context of the recent extension of the Social Compact,” said Tannis.“Overall, the budgetary presentation was a highly-diversified statement which must now be carefully analysed for its impact and implementation effectiveness,” she said, while pledging the BPSA’s continued collaboration with stakeholders on national objectives for economic development.However, Tannis said “There is also unanimity of thought that the absence of details pertaining to some of the measures announced presents an impediment to full analysis of the implementation and impact on businesses and the private sector.
