increases in Retiring Benefits and Other Benefits of $8.2 million and $4.0 million respectively. The projection for current transfers was $1,084.2 million. Capital expenditure for the period under review was $171.3 million compared to $143.9 million for the corresponding period in 2013-2014. Capital formation decreased by $9.4 million whereas capital transfers increased by $33.3 million. This is mainly attributed to the subscription of $50 million by the Government of Barbados to become a member of Corporación Andina de Formento (CAF). It should be noted that the projection for capital expenditure was $173.3 million. Total expenditure for April 2014 to March 2015 was $3,853.5 million compared to $3,939.5 million in the corresponding period of 2013-2014. The projection for the period was $3,929.1 million. Debt Central Government’s disbursed and outstanding debt at $11,390.4 million as at March 2015, approximately 133.1% of projected Gross Domestic Product (GDP), compared to $11,070.9 million for the corresponding period ending March 2014. Of the $319.4 million increase in Government debt, there was a $22.6 million net increase in external debt, compared to the same period in the previous year, mainly the proceeds of the US$25.0 million First Citizens’ loan. This increase was offset against repayments, particularly on the US$120.0M Bond. Domestic debt increased by $296.9 million, financed principally through the issuance of Debentures and Treasury Bills, which are significantly more prone to roll-over risk. The net increase of $319.4 million is attributable to the need to finance the deficit. Debt Service Total debt payments in the period April 2014 to March 2015 amounted to $1,442.1 million with interest payments of $664.8 million, amortization payments of $639.0 million, and Sinking Fund contributions of $138.3 million. Interest payments saw a net increase of $56.2 million, primarily as a result of interest payments due in respect of the Credit Suisse US$225.0 million and
Wholesale $,5000 $3,750 $2,500 Retail $1,000 $750 $500 Restaurant Licence $1,000 $750 $500 Occasional Licence $100 $75 $50 Members Club $500 $375 $250 Proprietary Club $5,000 $3,750 $2,500 Druggist Licensee $750 $562.50 $375 Trade, Business or Calling Current Rate Proposed Rate 2015/2016 Proposed Rate 2016/2017 Schedule Part 1 First Registration: $2,500 Annual fee: $2,500 First Registration: $1,875 Annual fee: $1,875 Registration: $1,250.00 Annual fee: $1,250 Second Schedule Part 1 First Registration: $750.00 Annual fee: $750 Registration: $562.50 Annual fee: $562.50 First Registration: $375 Annual fee: $375 Second Schedule Part 2 First Registration: $750 Annual fee: $750 First Registration: $562.50 Annual fee: $562.50 First Registration: $375 Annual fee: $375 Third Schedule First Registration: $50.00 Annual fee: $50 First Registration: $37.50 Annual fee: $37.50 First Registration: $25 Annual fee: $25 Temporary Registration Fees Dental Practitioner 3 months or less: $375 More than three months but not more than 6 months; $750 3 months or less: $281.25 More than three months but not more than 6 months; $562.50 3 months or less: $187.50 More than three months but not more than 6 months; $375
the selling price to distributors. This caused the company to rack up more than 160 million dollars in debt which virtually threatened the operational viability of the company as a going concern. On assuming office this administration was forced to take the correct step to end that madness and to further seek to put financial arrangements in to ensure that BNOC would be able to liquidate this massive debt thereby stabilizing the company and regaining its viability. In pursuance of this, the company with government’s support was able to arrange a Bond facility with Republic Bank to clear off its debts as aforementioned. That facility which was for 5 years has now come to an end. It was serviced by the imposition of a small CESS on all fuel products sold by the company. That CESS, I am advised, raised in excess of 35 million dollars annually. With that requirement at an end, and with oil prices easing to some appreciable extent, it is government’s intention to permit the company to continue, under the appropriate legal arrangements, to attach that said CESS on fuels for at least one more year. We are further proposing that a significant part of these resources be provided to government, again under the appropriate legal arrangements, to be used exclusively in assisting the QEH in its quest to pay down and eventually liquidate any prior year liabilities on its books for goods and services provided and any statutory obligations owing. Mr. Speaker, let me hasten to add here that the provision of resources is not intended to be an additional transfer or increased allocation for the hospital vote, but entirely to deal with expenditure that has already been incurred and booked in the system as prior year liabilities. As such, it is not expected to affect our deficit projections in any way. Education – No person left behind: