It is with a real sense of joy and deep appreciation for the spirit of the season that the family of the Barbados Labour Party extends best wishes for Christmas to all Barbadians at home and abroad.
Christmas is about giving and sharing with those less fortunate than ourselves and over the years Barbadians have demonstrated the capacity to meet this ideal. It is in keeping with this old Barbadian tradition that we invite every Barbadian to open their hearts this year and allow the abundance of kindness to flow among their fellow countrymen and women.
As a Government, this BLP is proud to have managed the economy in a manner that today we can give back something to our people from every walk of life. During the past year we have given back tangible benefits to all our citizens that have contributed to an improved standard of living which has become the envy of the developing world. Whether it be monetary or in kind for social groups or corporate entities this government has given back and has help our people to build and realize their dreams.
That more Barbadians are at work at this time is a commendable achievement that has resulted in increased savings, higher investment and greater demand for home mortgages. It was only in October this year during his address to the Party’s annual conference that Prime Minister Arthur reported that during the Government’s third term, “Barbadians saved and invested more than in any previous period. Between 2003 and June this year (2006) deposits held by Barbadians in commercial banks alone increased by $2.billion (from $5.1 to $7.1billion). With respect to mortgage loans the Prime Minister stated that, “loans by commercial banks for private dwellings have virtually doubled between the end of 2002 and June 2006 – rising from $386million to now over $720million”. It is noted that these loans amounted to only $34million when the BLP assumed office in 1994.
What is noteworthy is the fact that Barbadians are not only increasing their loan portfolios but are managing their loans well. An article in the Advocate Newspaper for Monday, November 6, 2006 under the headlines “Some banks say no increase in loan delinquency” establishes the fact that Barbadians are servicing loan commitments and this must be attributed to the high levels employment and greater purchasing power.
Prime Minister Arthur also reported that this BLP administration has given back immensely to the lower and middle income Barbadians through a far reaching tax reform and tax relief programme. With respect to income tax the Prime Minister stated, “That the combined effect of the raising of the threshold below which tax is not paid from $15,000 to $22,500 and the lowering of the tax rates on personal income has led to the removal of over 26,000 from the tax roll, including maid, gardeners, orderlies, messengers and the like”.
Small property owners with a property value of up to $125,000 now pay no land tax. Thanks to Prime Minister Arthur who stated that, “Over 50,000 homeowners have benefited from the lowering of land tax rates and the exemption of the first $125,000 from the payment of land tax entirely. A home owner with a house value at $250,000 was paying land tax of $500 at the start of the term. He or she is paying only $125 now”.
We are satisfied that our policies and programmes have worked and so this Christmas will find Barbadians in the right spirit and in a state of mind to have a blessed Xmas. Merry Xmas to all Barbadians.

