Minister of Public and Private Investment Indar Weir has strongly endorsed the 2026-2027 Budget, highlighting its focus on increasing disposable income for citizens, particularly pensioners and the middle class. Speaking during the Budget debate in the House of Assembly, Weir stated that providing greater disposable income must be at the core of government policy. He specifically praised measures including an increase in the Reverse Tax Credit for lower-income earners and a $100 monthly increase for pensioners. Weir linked the government's recent electoral victory to its approach to addressing affordability and the risk of poverty.
Weir also commended the government's decision to hedge imported oil at US$92 a barrel for an initial three-month period to reduce electricity costs for consumers. He emphasized the administration's commitment to making renewable energy a 'hard reality' for Barbados, positioning the island as a regional model. The Minister expressed full support for the capping of gasoline prices.
In contrast, Attorney General Wilfred Abrahams issued a sobering warning, urging Barbadians to brace for 'very difficult times' due to global geopolitical instability. He described the current Budget as one of the most critical and challenging ever prepared, citing unforeseen events like regime change in Venezuela and conflict in the Middle East. Abrahams acknowledged the government's staged approach to relief but stressed the volatile international landscape.
Separately, Abrahams called for a serious crackdown on farm theft, known legally as praedial larceny, warning that growing complacency threatens national food security. He argued the crime should not be softened by euphemistic language and highlighted the troubling everyday reality for farmers, forwarding a detailed complaint from a cane farmer to senior ministers. His comments underscore a dual challenge: shielding citizens from global economic shocks while securing domestic food production.
Meanwhile, Minister of Economic Affairs and Planning Marsha Caddle defended the Budget against criticism that it lacked a clear growth strategy. She argued that the annual Budget works alongside broader frameworks like the Barbados Economic Recovery and Transformation (BERT) programme to outline the government's direction. In related energy discussions, MP Dwight Sutherland called for a shift in culture at the Fair Trading Commission to be more 'nimble' and facilitate renewable energy investments, citing soaring global oil prices as a critical concern.
