|Finance Minister, Christopher Sinckler browsing through the recently launched publication ‘From Bengal to Barbados’ with the BCCI’s President, Lalu Vaswani at the luncheon at Hilton Barbados. (A.Miller/BGIS)??|
Government will be going to Parliament in two weeks with the requisite pieces of legislation to "lock in the advances" it wants to make with the national alternative energy initiative.
Minister of Finance and Economic Affairs, Christopher Sinckler, made this disclosure yesterday while addressing business people at the Barbados Chamber of Commerce and Industry’s annual luncheon at Hilton Barbados.
Mr. Sinckler explained that those pieces of legislation related to the regulation, sale and consumption of alternative energy and to the concessions and incentives he announced in last year’s budget.
He told those gathered: "Given the extensive nature of the concessions and incentives that I announced, we were advised by the Chief Parliamentary Counsel’s Office that it would be better if we did a piece of legislation in which the body of all of those concessions were placed, rather than having everybody scurrying around seeking to access those concessions.
"And, we conceded that point because it was very extensive. The legislation has been prepared, [and] there is just one thing we have to do. They said we should speak with the tax experts in Barbados, just to make sure we have not done anything untoward, and I agree."
Mr. Sinckler also pointed out that his Ministry was working with the Ministry of Agriculture to agree on a plan for the permanent restructuring of the sugar industry. "That plan is ready and we are finalising the financing options. Ahead of that though there will be a short-term initiative to ensure that the sugar industry players get an immediate injection of capital to carry out next year’s crop, and beyond. I got a call from the people involved yesterday [Tuesday] and they said it was agreed, we just have to sign off on it and get the resources out to those people as quickly as possible," he explained.
He added that his Ministry, working with the stakeholders and Ministry of Tourism, will meet very shortly and agree on a short to medium-term recovery programme for tourism.