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Date: 23 Nov, 2010
Source: Invest Barbados

Barbados’ Minister of Finance, the Honourable Christopher Sinckler, M. P., delivered his maiden budget yesterday. The budgetary proposals were delivered against a challenging economic backdrop and were primarily aimed at correcting the existing fiscal imbalance. Below is the text of the Minister’s Statement.

Mr. Speaker,

It is with a sense of great humility that I accept the honour to present the Financial Statement and Budgetary Proposals for the year 2010 on behalf of this Democratic Labour Party Government.

I do so Sir, chastened by the enormity of the circumstances,challenged by the task that confronts us, but comforted by my belief that the Almighty does not place upon the shoulders of any man more that he is able to bear. I am even more fortified in the view that God will not inflict upon the people of this nation a burden too difficult to carry. I make bold this declaration, mindful of the fact that I speak at a time when the nation still grieves for its fallen leader; is yet reconstructing from the devastation wreaked by Tropical Storm Tomas, and still recovering from that awful tragedy that took the lives of those six beautiful young women at the now infamous Campus Trendz fire-bombing incident.

All of this Sir, coming against the backdrop of the continuation of a domestic economic recession, almost exclusively driven by the ravages of a global, financial and economic crisis characterised by most as the worst since the Great Depression of 1930, in terms of its global reach, duration, and severity of impact.

It is as if Barbados was entering the vortex of the perfect storm. Click here to read the full presentation.

To view the expert comments on the 2010 Budget, click on the following links:

Ernst and Young