State-owned corporations should brace for jobs cuts as government embarks on a major overhaul of its operations as part of a national transformation promised by Prime Minister Mia Amor Mottley in her budget.
Miss Mottley stated that government priorities will include prudent financial management, improved revenue collection and streamlining expenditure.
The Prime Minister indicated that state-owned enterprises had become too bloated and inefficient while racking up huge losses and declared it’s time to make tough decisions.
She detailed the massive losses accumulated by government enterprises.
Miss Mottley also announced a plan to fix roads and improve the water supply.
The deteriorated south coast road is road is to get attention.
Meantime, government plans to slash its rent bill with construction of a series of new government offices and 9.6 million dollars is being allocated to build 17 mini stadia across Barbados.
Also announced in the budget the extension of the VAT cap on fuel, the granting of loans and travel allowances to nurses and film production companies being offered extensive concessions to use Barbados as a film production hub.