DOCSLIB.ORG

Stabilization Measures a Big Response

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Stabilization Measures a Big Response Stabilization Measures A Big Response KPMG Commentary — March 26, 2020 2 KPMG 2020 Commentary Foreword Unprecedented times! Across the globe countries are taking extreme and important measures to protect public health, slow the spread of the virus, Please do not hesitate to contact us calm public concerns, and bolster economies. Many different should you require clarification on any of tools and mechanisms are being employed to protect workers, the matters discussed in this document. fight the economic disruption caused by COVID-19, and reduce business stress. The economic measures and the speed with which they are implemented will have profound impact on the global economies, and indeed Barbados is no different. Lisa Taylor The Prime Minister of Barbados has been swift to act to Managing Partner implement stabilization measures which may very well become a T: +1 246 434 3915 lifeline for many Barbadians. It is indeed expected that further M: +1 246 233 5703 measures will be put forward as the impact of this global crisis E: [email protected] becomes apparent. Businesses and individuals are being asked to play their part to stem the impact of the health crisis, and from an economic Louisa Lewis-Ward perspective much more will be asked in the upcoming months to Partner, Head of Tax ensure that Barbados does not fall full victim to the negative T: +1 246 434 3941 global fallout. M: +1 246 231 0348 E: [email protected] The Prime Minister in her address to Barbados indicated that prior to the spread of COVID-19 and fear-driven panic around the world, the Barbados economy was expected to grow by roughly Christopher Brome 1.5% in 2020, predicated on another 3% pick up in tourist arrivals Partner, Advisory, Head of and broad-based recovery in the other sectors including Markets construction. Government now expects the impact to the T: +1 246 434 3907 Barbados economy to be primarily through the virus’ impact on M: +1 246 243 8709 global travel with a significant decrease in tourist arrivals, leading E: [email protected] to a sharp decline in economic activity and resulting in drastically reduced government tax revenues which are used primarily to fund the civil service and social programs in addition to a slower accumulation of international reserves than currently projected Michael Edghill as the baseline under the BERT – IMF EFF* supported program. Partner, Head of Audit T: +1 246 434 3900 Barbados will continue to punch above its weight and the Prime M: +1 246 231 1111 Minister has committed to Government making “the necessary E: [email protected] adjustment in this coming year to prepare the country for this unprecedented shock from COVID-19 while ensuring that we stay the course, remaining fully committed to our BERT program of economic growth and transformation”. Here at home, while we secure our businesses we will need to focus on our people and the careful management of enforcement procedures, paying particular attention to caring for our vulnerable and elderly. We wish you all well. • Barbados Economic Recovery Transformation- International Monetary Fund Extended Fund Facility (BERT – IMF EFF) • All figures quoted in this document are in Barbados dollars except where noted © 2020 KPMG, a Barbados and Eastern Caribbean partnership, registered in Barbados, Antigua and Barbuda, Saint Lucia and St. Vincent and the Grenadines, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative (“KPMG International”), a Swiss entity. Impact and Stabilization “With a reduction in tax revenues, Barbadians will bring ingenuity and resilience to the fore to weather what will be a protracted road to economic recovery. Louisa Lewis-Ward Partner, Head” of Tax - Companies - Individuals 5 KPMG 2020 Commentary Companies Pre Covid-19 Post Covid-19 Government in late 2018 and into 2019 embarked on Government has projected that the fall in economic a series of adjustments to the Barbados tax platform activity will negatively affect the profit streams of which resulted in a reduction in the corporate tax corporations, the demand for properties and rates from 5.5% to 1%. Inflows at the end of increased compliance issues. February 2020, averaged $220 million. It is expected that corporation taxes and property taxes will be lower than were initially projected by between $19 million and $27.6 million, and between $8 million and $11.4 million, respectively. 2020 Corporate tax rates (non insurance) Taxable income - $0 - $1 million 5.5% Taxable income - $1 - $20 million 3.0% Taxable income - $20 - $30 million 2.5% Taxable income - Over $30 million 1.0% Stabilization measures Stabilization measures Jobs, Investment and Business Survival NIS Deferral - Employers who are retaining more program - Government is engaged with the private than [three quarters/two-thirds] of their staff sector on a major Jobs, Investment and Business complement will be able to defer the employer’s Survival program which will aim to: contributions to the NIS for the next three months in the first instance, with another three months if — facilitate businesses to use the pause in activity necessary. to upskill and invest to come back stronger — encourage banks to defer loan payments for Bank Financing - All banks have agreed to businesses that get into short-term difficulty as a provide temporary working-capital financing result of COVID-19; and options for corporate and small businesses directly — ensure the early start, resumption or impacted by COVID-19. continuation of up to $1 billion of private sector investments. © 2020 KPMG, a Barbados and Eastern Caribbean partnership, registered in Barbados, Antigua and Barbuda, Saint Lucia and St. Vincent and the Grenadines, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative (“KPMG International”), a Swiss entity. 6 KPMG 2020 Commentary Individuals Pre Covid-19 Post Covid-19 A shift in corporate tax rates was matched with a Government projects that tax revenues will be lower lowering of the personal income tax rates by between $157 million to $240 million depending applicable to individuals. on the severity of the impact of COVID-19 on economic activity. Personal income taxes are expected to be less than originally projected by between $25 million and $38 Personal Income tax rates million, as a result of possible job losses and shorter Taxable income up to $50,000 12.5% working hours in the services sector. Taxable income over $50,000 28.5% Personal Allowance - $25,000 Stabilization measures Stabilization measures Household Survival Program – Implement a NIS support – Government will provide Household Survival Program (injecting $20 million) supplemental support to the NIS Unemployment consisting of three initiatives to assist displaced Fund as needed and within the context of available workers. Those being laid off are entitled to fiscal space. unemployment benefits. Unemployment benefits – Those who are laid off Welfare Support – Where, as a result of COVID- fully will receive unemployment benefits for six 19, a household is left with no person employed, months and those on short weeks will receive 60% Government will provide a minimum income for for the days they are not working. those households and make available through the Bank Financing – all commercial banks have Welfare Department an amount up to $600 per agreed to a six-month payment moratorium on month during this period of hardship. existing loans and mortgages for persons and Adopt-a-Family Program – Government is businesses directly impacted by COVID-19. working with persons who have been fortunate to “Homes For All” Program – Government is to use be earning more than $100,000 a year to adopt a $50 million in the Housing Credit Fund to unlock a vulnerable family and provide them with very further $200 million of financing from the banks to much needed support of $600 per month or to help over 1,000 households construct and own an contribute to an Adopt-a-family fund chaired by the affordable home. The project is projected to start in Director of Finance. three months and is initially targeted at persons with an household income of $4,000 per month. © 2020 KPMG, a Barbados and Eastern Caribbean partnership, registered in Barbados, Antigua and Barbuda, Saint Lucia and St. Vincent and the Grenadines, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative (“KPMG International”), a Swiss entity. - Social Care -Tourism -Construction -Agriculture 8 KPMG 2020 Commentary Social Care – Stabilization Measures Health Care Schools QEH and polyclinics - An additional $40 million School repairs - Carry out urgently needed repairs will be made available to refurbish the QEH and to schools to the tune of $25 million, which will local polyclinics with critical equipment and any build capacity for disaster preparedness, including supplementary goods needed to manage and the coming hurricane season. contain the spread of the virus. School meals facility - In addition, Government is Hospital equipment - Of the above noted $40 working to complete the construction of the school million, $32.5 million is expected to be capital meals building at Six Roads at a cost of $6 million spending for the purchase of ventilators, beds etc. to enhance the ability to provide food either to while the remaining $7.5 million assumed to be schools or communities as needed. spent on restocking medication as well as other medical supplies.
Load more

Recommended publications
  • RESTRICTED WT/TPR/W/76 10 February
    RESTRICTED WT/TPR/W/76 10 February 2015 (15-0841) Page: 1/35 Trade Policy Review Body BARBADOS DRAFT MINUTES OF THE MEETING* HELD ON 27 AND 29 JANUARY 2015 Delegations are invited to submit factual corrections, if any, on their own statement to the Secretariat (Mrs Barbara Blanquart: [email protected], or to [email protected]) no later than 24 February 2015. Organe d'examen des politiques commerciales BARBADE PROJET DE COMPTE RENDU DE LA RÉUNION* TENUE LES 27 ET 29 JANVIER 2015 Les délégations sont invitées à soumettre leurs éventuelles corrections factuelles concernant leurs propres déclarations au Secrétariat (Mme Barbara Blanquart: [email protected], ou [email protected]) le 24 février 2015 au plus tard. Órgano de Examen de las Políticas Comerciales BARBADOS PROYECTO DE ACTA DE LA REUNIÓN* CELEBRADA LOS DÍAS 27 Y 29 DE ENERO DE 2015 Las delegaciones pueden enviar a la Secretaría (Sra. Barbara Blanquart: [email protected], o [email protected]) a más tardar el 24 de febrero de 2015 las correcciones fácticas que deseen introducir en sus propias declaraciones. _______________ *In Original language only/En langue originale seulement/En el idioma original solamente. WT/TPR/W/76 • Barbados - 2 - TRADE POLICY REVIEW BARBADOS DRAFT MINUTES OF THE MEETING Chairperson: H.E. Mrs. Mariam MD Salleh CONTENTS 1 INTRODUCTORY REMARKS BY THE CHAIRPERSON ....................................................... 3 2 OPENING STATEMENT BY THE REPRESENTATIVE OF BARBADOS .................................. 5 3 STATEMENT BY THE DISCUSSANT ................................................................................ 8 4 STATEMENTS BY MEMBERS ........................................................................................ 12 5 REPLIES BY THE REPRESENTATIVE OF BARBADOS AND ADDITIONAL COMMENTS ..................................................................................................................... 30 6 CONCLUDING REMARKS BY THE CHAIRPERSON ........................................................
    [Show full text]
  • Barbados' Debt Crisis: the Effects of Colonialism and Neoliberalism
    University at Albany, State University of New York Scholars Archive Latin American, Caribbean, and U.S. Latino Latin American, Caribbean, and U.S. Latino Studies Honors Program Studies 2019 Barbados’ Debt Crisis: The Effects of Colonialism and Neoliberalism Noel Chase University at Albany, State University of New York, [email protected] Follow this and additional works at: https://scholarsarchive.library.albany.edu/lacs_honors Part of the Latin American Languages and Societies Commons Recommended Citation Chase, Noel, "Barbados’ Debt Crisis: The Effects of Colonialism and Neoliberalism" (2019). Latin American, Caribbean, and U.S. Latino Studies Honors Program. 4. https://scholarsarchive.library.albany.edu/lacs_honors/4 This Honors Thesis is brought to you for free and open access by the Latin American, Caribbean, and U.S. Latino Studies at Scholars Archive. It has been accepted for inclusion in Latin American, Caribbean, and U.S. Latino Studies Honors Program by an authorized administrator of Scholars Archive. For more information, please contact [email protected]. Barbados’ Debt Crisis: The Effects of Colonialism and Neoliberalism Faculty Sponsor Address: [email protected] | University at Albany Social Science 250 1400 Washington Avenue Albany, NY 12222 Undergraduate Author Address: [email protected] | 159 E 88th St Brooklyn, NY 11236 1 This research project explains the correlation between the tourism sector and Barbados’s cycle of debt. Barbados has continuously incurred debt, from international financing institutions such as the International Monetary Fund, since its independence from Great Britain in 1966. As of 2017, the estimated national debt of Barbados is $7.92 billion (USD).1 Sir Hillary Beckles, Michael Howard, and other economic experts and professors at the University of the West Indies, believe the country has gone into debt for a variety of different reasons.
    [Show full text]
  • The Political Economy of Gender in the Twentieth-Century Caribbean
    The Political Economy of Gender in the Twentieth-Century Caribbean Eudine Barriteau International Political Economy Series General Editor: Timothy M. Shaw, Professor of Political Science and International Development Studies, Dalhousie University, Halifax, Nova Scotia Titles include: Leslie Elliott Armijo (editor) FINANCIAL GLOBALIZATION AND DEMOCRACY IN EMERGING MARKETS Eudine Barriteau THE POLITICAL ECONOMY OF GENDER IN THE TWENTIETH-CENTURY CARIBBEAN Gabriel G. Casaburi DYNAMIC AGROINDUSTRIAL CLUSTERS The Political Economy of Competitive Sectors in Argentina and Chile Matt Davies INTERNATIONAL POLITICAL ECONOMY AND MASS COMMUNICATION IN CHILE National Intellectuals and Transnational Hegemony Yvon Grenier THE EMERGENCE OF INSURGENCY IN EL SALVADOR Ideology and Political Will Ivelaw L. Griffith (editor) THE POLITICAL ECONOMY OF DRUGS IN THE CARIBBEAN Jerry Haar and Anthony T. Bryan (editors) CANADIAN–CARIBBEAN RELATIONS IN TRANSITION Trade, Sustainable Development and Security Tricia Juhn NEGOTIATING PEACE IN EL SALVADOR Civil–Military Relations and the Conspiracy to End the War R. Lipsey and P. Meller (editors) WESTERN HEMISPHERE TRADE INTEGRATION A Canadian–Latin American Dialogue Don Marshall CARIBBEAN POLITICAL ECONOMY AT THE CROSSROADS NAFTA and Regional Developmentalism Juan Antonio Morales and Gary McMahon (editors) ECONOMIC POLICY AND THE TRANSITION TO DEMOCRACY The Latin American Experience Henry Veltmeyer, James Petras and Steve Vieux NEOLIBERALISM AND CLASS CONFLICT IN LATIN AMERICA A Comparative Perspective on the Political Economy of Structural Adjustment Henry Veltmeyer, James Petras THE DYNAMICS OF SOCIAL CHANGE IN LATIN AMERICA International Political Economy Series Series Standing Order ISBN 0–333–71708–2 (outside North America only) You can receive future titles in this series as they are published by placing a standing order.
    [Show full text]
  • The Spiritual Landscapes of Barbados
    W&M ScholarWorks Undergraduate Honors Theses Theses, Dissertations, & Master Projects 4-2016 Sacred Grounds and Profane Plantations: The Spiritual Landscapes of Barbados Myles Sullivan College of William and Mary Follow this and additional works at: https://scholarworks.wm.edu/honorstheses Part of the African History Commons, Archaeological Anthropology Commons, Cultural History Commons, History of Religion Commons, and the Social and Cultural Anthropology Commons Recommended Citation Sullivan, Myles, "Sacred Grounds and Profane Plantations: The Spiritual Landscapes of Barbados" (2016). Undergraduate Honors Theses. Paper 945. https://scholarworks.wm.edu/honorstheses/945 This Honors Thesis is brought to you for free and open access by the Theses, Dissertations, & Master Projects at W&M ScholarWorks. It has been accepted for inclusion in Undergraduate Honors Theses by an authorized administrator of W&M ScholarWorks. For more information, please contact [email protected]. Sullivan 1 Sacred Grounds and Profane Plantations: The Spiritual Landscapes of Barbados Myles Sullivan Sullivan 2 Table of Contents Introduction page 3 Background page 4 Research page 6 Spiritual Landscapes page 9 The Archaeology and Anthropology of Spiritual Practices in the Caribbean page 16 Early Spiritual Landscapes page 21 Barbadian Spiritual Landscapes: Liminal Spaces in a “Creole” Slave Society page 33 Spiritual Landscapes of Recent Memory page 47 Works Cited page 52 Figures Fig 1: Map of Barbados page 4 Fig 2: Worker’s Village Site at Saint Nicholas Abbey page 7 Fig 3: Stone pile on ridgeline page 8 Fig 4: Disembarked Africans on Barbados (1625-1850) page 23 Fig 5: Total percentage arrivals of Africans by regions page 23 Fig 6: “Gaming” Pieces from the slave village site page 42 Fig 7: Gully areas at St.
    [Show full text]
  • The National Strategic Plan of Barbados 2005-2025
    THE NATIONAL ANTHEM In plenty and in time of need When this fair land was young Our brave forefathers sowed the seed From which our pride is sprung, A pride that makes no wanton boast Of what it has withstood That binds our hearts from coast to coast - The pride of nationhood. Chorus: We loyal sons and daughters all Do hereby make it known These fields and hills beyond recall Are now our very own. We write our names on history’s page With expectations great, Strict guardians of our heritage, Firm craftsmen of our fate. The Lord has been the people’s guide For past three hundred years. With him still on the people’s side We have no doubts or fears. Upward and onward we shall go, Inspired, exulting, free, And greater will our nation grow In strength and unity. 1 1 The National Heroes of Barbados Bussa Sarah Ann Gill Samuel Jackman Prescod Can we invoke the courage and wisdom that inspired and guided our forefathers in order to undertake Charles Duncan O’neal the most unprecedented Clement Osbourne Payne and historic transformation in our economic, social and physical landscape since independence in Sir Hugh Springer 1966? Errol Walton Barrow Sir Frank Walcott Sir Garfield Sobers Sir Grantley Adams 2 PREPARED BY THE RESEARCH AND PLANNING UNIT ECONOMIC AFFAIRS DIVISION MINISTRY OF FINANCE AND ECONOMIC AFFAIRS GOVERNMENT HEADQUARTERS BAY STREET, ST. MICHAEL, BARBADOS TELEPHONE: (246) 436-6435 FAX: (246) 228-9330 E-MAIL: [email protected] JUNE, 2005 33 THE NATIONAL STRATEGIC PLAN OF BARBADOS 2005-2025 FOREWORD The forces of change unleashed by globalisation and the uncertainties of international politics today make it imperative for all countries to plan strategically for their future.
    [Show full text]
  • Financial Statement
    GOVERNMENT OF BARBADOS FINANCIAL STATEMENT AND BUDGETARY PROPOSALS 2011 PRESENTED BY HON. CHRISTOPHER P. SINCKLER MINISTER OF FINANCE AND ECONOMIC AFFAIRS Tuesday 16th August, 2011 1 Mr. Speaker Sir, it is with a chastened outlook yet calmed assurance that I rise to deliver to this Honourable House the Financial Statement and Budgetary Proposal for 2011. I am chastened Sir, not only by the enormity of the task that confronts me as Minister of Finance and Economic Affairs, as it does indeed the entire Government and people of Barbados, but equally as well by the massive responsibility which has been imposed on us to safely navigate our country through this most challenging period of the country’s history. Lesser men and women would have shirked from this responsibility in favour of more certain waters and a less contentious atmosphere. Surely at times Mr. Speaker, my own human frailty has led me, as I am sure it has led many others across this country, in moments of weakness to ask: why me? But for those of us on whom God Almighty has vested the burden of leadership in trying times, it is expected that we do as the Apostle Paul instructed the early Christians in his letter to the Corinthians and I quote: “Keep alert, stand Firm in your faith, be courageous, be strong” That is why for my own part, as I walk this treacherous path of uncertain economic times, I do so with a resilience to do what is mine to do. For I know that my strength also comes from the certainty that I am not walking this path alone.
    [Show full text]
  • Contrasting Patterns of Migration and Settlement in Britain, France and the Netherlands
    THE CARIBBEAN IN EUROPE: CONTRASTING PATTERNS OF MIGRATION AND SETTLEMENT IN BRITAIN, FRANCE AND THE NETHERLANDS by Ceri Peach Research Paper in Ethnic Relations No.15 Centre for Research in Ethnic Relations October 1991 University of Warwick Coventry CV4 7AL Dr Ceri Peach is Lecturer in Geography at the University of Oxford and Fellow of St Catherine's College. He has published extensively on migration movments, urban segregation and social interaction. Mel Thompson is the editor of the Research Papers in Ethnic Relations Series. The aim of this series is to publish papers based on research carried out at the Centre for Research in Ethnic Relations at the Univerity of Warwick. It will also publish papers from external authors, and the editor welcomes manuscripts from other writers and researchers (including research students) working in the field of race and ethnic relations. The main emphasis of the series will be on original research that will be of interest and relevance for students of race and ethnic relations and for those implementing equal opportunity and anti- racist policies. Acknowledgment This work is based in part on research carried out under ESRC grant R0023 2777. Thanks are due to Philip Ogden and S. E. Condon for permission to quote extensively from the unpublished papers referenced in the text. Thanks are due also to Hans van Amersfoort for permission to reproduce two maps of the distribution of Surinamese population in Amsterdam. THE CARIBBEAN IN EUROPE There are at least two books which include the idea of the Caribbean in Europe in their titles (Lamur and Speckmann 1978; Brock, 1986).
    [Show full text]
  • Non-State Actors Reparations Commission Inc
    Non-State Actors Reparations Commission Inc. A Chronology of reparations, racial justice, and equality: by Rev. Buddy A. Larrier Introduction This paper is my contribution in response to the request for submissions to the United Nations Special Rapporteur on contemporary forms of racism, racial discrimination, xenophobia, and related intolerance. It is written not from an established historian, an educator or an intellectual perspective; simply as a person who is convinced that he has been commissioned either by God or the ancestors to assist in the search for truth, justice, peace, healing, and reconciliation towards the world becoming a better place. The paper does not seek to address history prior to the 14th century; its primary objective is to assist in the understanding of history from the 15th century - 1492 to present. This chronology is one aspect of the claim for reparatory justice and is based on my life’s experiences and research from 1977, which has led me to the understanding that there are two dates that are of major importance to every person living in the world today and will continue to be of importance for the rest of our lives. The first is the date on which that person is born, and the second is October 12. This being a fact of life my proposal to Her Excellency Ms. E. Tendayi Achiume, Special Repporteur is that in her report to the United Nations General Assembly for 2019 the date October 12 be recommended to be observed as the International Day for Reparations, for truth, justice, peace, healing, and reconciliation.
    [Show full text]
  • Government of Barbados
    OFFERING CIRCULAR Government of Barbados US$65,000,000 6.625% Notes due 2035 Fully fungible and forming a single issue with the Government's US$125,000,000 6.625% Notes due 2035 The US$65,000,000 aggregate principal amount of 6.625% Notes due 2035 (the “Notes”) of the Government of Barbados (the “Government” or, unless the context otherwise requires, “Barbados”) offered by this offering circular are a further issuance of the Government’s US$125,000,000 6.625% Notes due 2035 originally issued on December 5, 2005 (the “existing notes”) and will be consolidated with, and form a single series with, such notes producing a series with an aggregate principal amount of US$190,000,000. The notes offered hereby and represented by an Unrestricted Global Note will have separate temporary CUSIP and ISIN numbers from the existing notes represented by an Unrestricted Global Note for 40 days from the issue date of the notes offered hereby, and, therefore, will not trade fungibly with the existing notes for the first 40 days after this issue date. Thereafter, the notes offered hereby and represented by an Unrestricted Global Note Certificate will trade under the same CUSIP and ISIN numbers as the existing notes represented by an Unrestricted Global Note Certificate and will trade fungibly with the existing notes. The Notes will mature and will be repaid at par on December 5, 2035. Interest on the Notes will be payable semi-annually in arrears in U.S. Dollars on June 5 and December 5 of each year, commencing on December 5, 2006, at a rate of 6.625% per annum, accruing from June 5, 2006.
    [Show full text]
  • Barbados Economic and Social Report 2013
    2 0 1 1 BARBADOS ECONOMIC AND SOCIAL REPORT 2013 Barbados Economic and Social Report 2013 TABLE OF CONTENTS EXECUTIVE SUMMARY......................................................................................................................... 2 I. INTERNATIONAL ECONOMIC DEVELOPMENT ...................................................................... 5 II. REGIONAL ECONOMIC DEVELOPMENT .................................................................................. 9 III. THE BARBADOS ECONOMY .................................................................................................... 15 A. The Real Sector 15 B. Balance Of Payments 16 C. Fiscal Developments and Public Finances 19 D. Money, Banking And Capital Markets 23 E. Employment, Inflation And Labour Market 30 F. Public Sector Investment Programme (PSIP) 37 G. Official Development Assistance 38 IV. SECTORAL PERFORMANCE .................................................................................................... 50 A. Agriculture And Fisheries 50 B. Industry And Manufacturing 57 C. Tourism 66 D. Construction 70 E. International Financial and Business Services 71 F. Energy And Utilities 73 G. Commerce And Consumer Affairs 77 H. Small Business Development 79 I. Science And Technology 80 V. SOCIAL SECTOR DEVELOPMENT ........................................................................................... 81 A. Education And Training 81 B. Population 88 C. Health 89 D. Social Services 103 E. Environment 123 F. Law And Order 142 VI. ECONOMIC OUTLOOK FOR 2014 ........................................................................................
    [Show full text]
  • 11, ____ Labour Recruitment in the Hospitality Industry: a Different Lesson in the Sustainability of Small and Island States
    ____11, ____ Labour Recruitment in the Hospitality Industry: a Different Lesson in the Sustainability of Small and Island States Godfrey Baldacchino Smallness and its consequences are generally understood to have implica­ tions on various features of the small social universe. My intention is to extend this concern to the sphere of human resource management. I therefore propose an investigation into how the condition of smallness has implica­ tions for relationships between people, particularly between manager and managed at work. The chapter will draw on select comparative interview material relating to the issue of recruitment. The empirical fieldwork from where the material is culled was carried out by the author in two large luxury hotels, one in Malta and one in Barbados. The account and analysis suggest how the dynamics between managers and employees in the hospitality industry of developing micro-states may illustrate the idiosyncratic cluster of opportunities and limitations of operating in such a small-size and small-scale environment. The compendium of obstacles and opportunities that seem to have a bearing on the labour-management relationship bear witness to an environ­ mental wisdom, an attitudinal pattern inspired also by what the small-scale social environment has to offer. In this sense, one can propose a different and insightful perspective to sustainability concerning labour relations and human resource management in small-scale settings. The result is somewhat removed from the deterministic implications of globalization and homogeni­ zation current in much of the literahlre concerning tourism in micro­ territories. Labour Recruitment in the Hospitality Industry 161 Sustainability Sustainable development - that which meets the needs of the present without compromising the ability of future generations to meet their own needs - is a particular challenge for small and island states.
    [Show full text]
  • Barbados Economic and Social Report 2018
    APPENDIX I Ministry of Economic Affairs 6 Investment Economic & Social Report 2018 TABLE OF CONTENTS EXECUTIVE SUMMARY……………………………………………………………………………………………….. 1 I INTERNATIONAL & REGIONAL ECONOMIC DEVELOPMENT……………………………… 4 II THE BARBADOS ECONOMY……………………………………………………………………………… 7 A. Gross Domestic Product ……………………………………………………………………... 8 B. Balance of Payments ………………………………………………………………………….. 9 C. Fiscal Developments and Public Finances……………………………………………. 12 D. Employment, Inflation and Labour Market …………………………………………. 16 E. Sectoral Performance and Policy Development……………………………………. 19 i. Accommodation and Food Service Industry……………………….. 19 ii. Industrial Sector………………………………………………………………. 22 iii. Agriculture and Fishing…………………………………………………….. 24 iv. International Financial and Business Services……………………. 31 v. Construction……………………………………………………………………… 32 vi. Energy and Utilities…………………………………………………………… 36 vii. Transport………………………………………………………………………….. 38 F. Money, Banking and Capital Markets…………………………………………………… 40 G. Small Business Development………………………………………………………………. 45 H. Commerce and Consumer Affairs………………………………………………………… 45 I. Foreign Trade and International Relations…………………………………………… 46 III SOCIAL SECTOR DEVELOPMENT…………………………………………………………………….. 52 A. Education and Training……………………………………………………………………….. 52 B. Science and Technology………………………………………………………………………. 58 C. Creative Economy and Culture…………………………………………………………….. 59 D. Youth and Community Empowerment…………………………………………………. 61 E. Population………………………………………………………………………………………….. 62 F. Health…………………………………………………………………………………………………
    [Show full text]