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Friday, September 22, 2023

Open Letter To Prime Minister Philip J. Pierre For Suspension Of Levy On Health And Security

An open letter from the leader of the opposition requesting the suspension of the 2.5% levy for health and citizen security has been delivered to the prime minister, honorable Philip J. Pierre.

The Prime Minister wants to reiterate the details of the 2.5% Health and Security Levy before responding fully to the substance of the Leader of the Opposition’s letter.

We are heartened by the Leader of the Opposition’s recognition of the administration’s growth accomplishments by highlighting the positive economic developments, but it is crucial to remember that maintaining this growth necessitates careful fiscal management and a variety of revenue sources.

As the prime minister noted in his 2023–2024 budget presentation, one such action is the implementation of the 2.5% levy, which aims to boost our economy and provide sufficient money for important services, especially health and security.

We would like to take this opportunity to remind everyone that some building materials, prescription drugs, food, and medical supplies are exempt from the 2.5% health and security levy.

Therefore, unless prices increase elsewhere, we do not anticipate a price increase for these commodities at their local place of sale.

All goods that have historically been exempt from taxes will continue to be so in this regard; as a result, the charge will not increase the cost of petroleum products, zero-rated or VAT-free goods, utilities, or travel-related goods.

Related: Barbados Police Advises Businesses Not To Store Large Sums Of Cash On Premises Or At Their Residences

The basket of items that are zero-rated or VAT-exempt has been increased under this administration.

The following building materials will also be exempt from VAT for a period of two years: plywood, lumber, steel, cement, and galvanized metal. The public has embraced the government’s strategic policy, which will increase demand in the construction sector.

Four hotels will be built at a cost of XCD 341.6 million to support this new economic activity, an accomplishment that escaped the administration of Allen Chastanet, the current leader of the opposition.

The health and security levy is a crucial step in making sure that the cost of the economic recovery is distributed fairly among all parties.

It is a component of a broader strategy to build our economy and enhance the lives of our residents, not a stand-alone response to the onerous debt that this administration must now pay.

The government will keep implementing its Universal Health Care program and enhancing the standard of medical care provided by our institutions.

The reintroduction of the Training Vote, equipment, and vehicles to support citizen security will continue to be advantageous to the police.

The government is still dedicated to responsible fiscal management, long-term growth, and the welfare of all people.

To secure the finest results for our nation, we welcome the Opposition’s constructive suggestions and engagement.



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