Headlines:
| Barbados PM unveils cost saving measures |
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| Tuesday, 08 July 2008 | |
The Barbados
government has unveiled a package of measures to tackle the rising cost of food
and fuel. This came as Prime Minister, David Thompson, who took office in January, presented his first budget. The measures include relief for people on low incomes, concessions for the agriculture industry, incentives for alternative energy and a tax on mobile phones. There will also be higher taxes on alcohol, tobacco, and winnings from gambling, as well as a new tax of US$2 per month on each of the island's 290,000 mobile phones. Mr. Thompson also warned of a likely slowdown in the island's economic growth over the next six months. |