Tax cuts will create a mess says Economics Society | TrakkerNews ...

Bridgetown.

The purpose tax concessions by Leader of the Opposition Leader Opposition Owen Arthur will create a? mess in the economy and widen the deficit unless several state corporations are sold.This is the view of president of the Barbados Economics Society? Ryan Straughn.

Last Sunday at the annual gneral conference of the Barbados Labour Party, Arthur announced a range of tax concessions in a 15 point plan if his party is elected to office.

"Obviously this is election time and I dont wish to speculate on the Opposition's intentions but given what is taking place right now, removing all of those taxes will make a bigger hole in the Government's finances and it's deficits:, says Straughn,

According to Straughn, more disposable income in households and businesses potentially means more economic activity.

"The way I see it, both for households nd businesses any increase in disposable income right now has to go toward paying any debts or building back up reserves. To that extent, on the face of it, I don't necessarily see it increasing growth from that perspective and therefore the Government's finances are not necessarily likely to improve in that scenario", Straughn warned. ?

Source: http://www.caribbeantrakker.com/2012/10/tax-cuts-will-create-a-mess-says-economics-society/

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