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National Income: 2 – From Production Value to Added Value – Getting to GDP

National Income: 2 – From Production Value to Added Value – Getting to GDP
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DLP president says Government s relief plan not enough

The Democratic Labour Party (DLP) have offered some commendation for Prime Minister Mia Mottley’s efforts to provide some relief to Barbadians from the current cost of living crisis.But there are also complaints from DLP president Dr Ronnie Yearwood, about an approach to social protection that reduces the dignity of Barbadians, instead of empowering them.On Thursday evening, Mottley announced a relief plan that included a reduction of the Valued Added TAX (VAT) charged on the first 250 kilowatts of electricity from 17.5 per cent to 7.5 per cent on residential bills. Mottley further revealed plans to expand the list of VAT-free food items and provide meals for school children over the summer break.A month ago, the DLP made public a list of recommendations to ease the burden on Barbadians that included the expansion of the basket of VAT-free goods, another to bring forward the $1300 reverse tax credit for people earning less than $25,000, and the removal of excise tax on fuel.

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