Inniss: Paradigm shift needed

INDUSTRY Minister Donville Inniss believes that high levels of taxation will only serve to dampen creativity and innovation. To this end he contends that there must be a paradigm shift in the country going forward.

His comments came on Wednesday night during the Williams Industries where he acknowledged calls for the reduction of rate on inputs on some products. Inniss noted that since independence, there has been a high level of protectionism in Barbados. “I am concerned that we have had a so-called industrial development over the last 50 years that has grown by high protectionist measures on the side of government.”

“I believe the State really needs to help unshackle the minds of our people. As I look toward the future of Barbados, it must be one that is not driven by high levels of taxation, duties especially on items that we have to import for the needs of Barbados.”

“Therefore you have my assurance as long as I am here whether it is up to election or even ten years afterwards, that I would work steadfastly to ensure that we are able to reduce the level of taxation because if you don’t do that you will continue to breed a level of mediocrity in industry in Barbados.”

Thanking Chairman and founder of the Williams Industries Ralph ‘Bizzie’ Williams for the confidence reposed in the Barbadian economy and people of Barbados, the Minister also acknowledged his selflessness over the years, by pulling others up not by handouts but by giving them opportunities. This he said was evident through the shares in the company that have been given to long serving employees. “I don’t think that we in Barbados have yet reached the point where we really appreciate what it means to be a shareholder. Sad to say 51 years of independence, too many people in this society still reflect on their salaries, allowances and benefits therein and do not focus on being a shareholder. To me there is nothing more important in your career and development than becoming an owner rather than just focusing on being an employee.”

“I make that point because when you aspire to be a shareholder you invariably go the extra mile. You stop thinking of yourself just as someone who will receive a paycheque at the end of the month or the week, to someone who is now making an immense contribution towards the growth and development of the company.”

He said the importance of becoming a shareholder in a private company is a lesson that must be taught to younger Barbadians.

The Minister also encouraged Barbadian businesses to see the world as their oyster. “We cannot sit here in Barbados and think that the world revolves around us.”

He also suggested that the persons who travel annually to shop or for leisure could, rather than spend money abroad, be more innovative and produce more in Barbados to meet the demands of the world.

“This will only happen if we dig deep inour soul, unshackle our minds, stop depending on the State for everything and ask ourselves at the individual level what more can we do and how can we do it better to drive things forward for our families, our economy and our society. That level of creativity I am satisfied is existing in our society and all we need to do is unwrestle it and bring it to the fore.”

“The next generation of Barbadians will not settle for what a lot of us have settled for over the last 50 years since independence. They are depending on us to lay a stronger foundation upon which they will build,” he said. (JH)