Analysis of Barbados Budget 2021: Business Community Optimistic with Some Concerns

Monday’s Budget delivered by Prime Minister Mia Amor Mottley has been met with much optimism by the business community, but there are some concerns.

In a post-mortem yesterday of the Financial Statement and Budgetary Proposals, hosted by the Barbados Chamber of Commerce and Industry (BCCI) at the Lloyd Erskine Sandiford Centre, there was consensus that the proposals are directed towards private sector-led growth.

BCCI president James Clarke gave the thumbs up to plans for a greater ease of doing business.

“The BCCI is pleased to see a growth Budget for Barbados. It seeks to provide incentives from a more navigable regulatory environment, to create simpler paths to unlocking private sector capital in Barbados. There are numerous tax rebates for projects aligned with national development, in the areas of infrastructure, digitisation, technology, agriculture, cultural industries and the environment,” he said.