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Caribbean & Central America - January 2006 (ISSN 1741-4458)
BARBADOS: Arthur presents budget while opposition topples leader
Prime Minister Owen Arthur, of the ruling Barbados Labour Party (BLP),
presented his budget for 2006 to the house of assembly on 16 January. The most
eye-catching elements were the lower land taxes for over 9,000 property owners,
the extension of tax-free salaries for 6,000 more low-income workers, an
increase in benefits for welfare recipients, and reduced corporate tax rates
from 40% to 25%. But the centrepiece of Arthur's two-and-a-half hour
presentation was a comprehensive energy plan requiring investment of about
US$150m, which should yield annual savings of between US$65m and US$90m.
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