Growth must be inclusive, says Minister Caddle

There can be no conversation about efficiency without addressing equity.

Minister in the Ministry of Economic Affairs and Investment, Marsha Caddle, told those gathered for the official launch of the Productivity Research Institute for Development and Entrepreneurship (PRIDE), that while the Barbados Economic Recovery and Transformation plan has meant fiscal adjustment and recovery, it also means the onset of a new transformational model where people would be able to participate in the delivery of goods and services only once done by Government.

She therefore offered her congratulations to the PRIDE management for acknowledging that just because something was once delivered by Government, did not mean that there was not space for others with the expertise and knowledge to fill the void.

“It is the role of economic enfranchisement that enables Barbadians and others to truly create intergenerational wealth and well-being, to go beyond earning just a wage and to achieve real economic security,” she said.

Caddle insisted those persons who were cash and asset poor, were also time poor, and insisted therefore that discussions about productivity, competitiveness and innovation had to be about growth that was inclusive.

“If it takes me weeks to get a license in the interim, I need other resources. If it takes me a long time to get or renew a driver’s license, then I have to spend money at some point at having someone drive me, or have someone pick my children up and so these are all related and so when we look at productivity, we are not just looking at the bottom line of the company, which is important; we are not just looking at creating new opportunities for young entrepreneurs, which is important, but looking at how everyone is able to enhance and improve their wealth and so there is a coming together that needs to happen,” she stressed.

The minister said this joint effort must be about systems, and people’s capacity and commitment.

The event was held at the Sagicor Cave Hill School of Business and Management. (JMB)