Senator Haynesley Benn, Minister of Commerce and Trade. (FP)

Senator Haynesley Benn has applauded the efforts of those within the Ministry of Commerce, who have made another step towards delivering strategies to mitigate the high cost of living. This comment came following a meeting held this morning with the Consultative Committee on the Cost of Living at the Ministry’s office, Reef Road, Fontabelle, St. Michael.

The Committee, which features representatives from various entities including the Barbados Customs and Excise Department, the Ministry of Economic Affairs, the Ministry of Finance and the Barbados Chamber of Commerce and Industry, reviewed the draft National Cost of Living Strategy 2011-2015, which offers holistic strategies to decrease the challenges currently faced by consumers.

Themes ranged from an analysis of national cost and price trends and the factors which influenced their movement to suggested solutions which would stabilise cost of living, including boosting agricultural self sufficiency, creating a wider range of products in the zero-rated basket of goods and increased intra regional trade.??????????????????

Minister Benn noted that he looked forward to having the Strategy approved by Cabinet within the coming months and highlighted that even at its current stage, the document held much promise.

Permanent Secretary, Louis Woodroffe, explained that the draft would now be treated to Green Paper status. Throughout the subsequent stages, the document will be circulated to various Ministries, private sector organisations and the general public for consultation. Ultimately, it will be submitted to Cabinet for approval.


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