Health Minister: Drugs not affected by NSRL

The eight per cent hike in the National Social Responsibility Levy (NSRL) will not have an impact on drug-related products and services in this country.

This was the assurance coming from Minister of Health John Boyce as he joined the debate on the Financial Statement and Budgetary Proposals 2017 in the Lower House yesterday.

“The discussions are taking place with the Ministry of Finance in respect to health care, relooking the question of how the NSRL will apply to health care. Health care products have been exempted [from] this imposition in the past and the discussion taking place is one in which that situation would be considered and returned to as soon as possible. This will mean therefore that there should be no increases in cost of drug related services in country. So I
hope that this could serve to allay some of the fears,” he said.

Admitting the tax would be placing a heavier burden on citizens, the Leader of Government Business stressed its necessity in protecting foreign reserve levels, maintaining the currency peg and the confidence of investors.

“It is not going to be an entirely painless situation, but we have to manage how these processes are put in place. Every time taxation is introduced in Barbados, there is the obvious recognition that there will be a movement in the prices,” he said.

Pointing out that there is some uncertainty as to how commodity prices would be affected, Boyce also noted that government should wherever possible share with Barbadians what kind of prices they should expect and how to respond to “persons who seek to take advantage of these rises”.

“I will call on Barbadians to be vigilant, and to share with this administration where instances can be observed of less than satisfactory management of increases that will incur,” he added.
(JMB)

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