The island’s main consumer advocacy group is adamant that the six-month Social Partnership Food Prices Compact which expires on January 31, has not benefited consumers.Executive Director of the Barbados Consumer Empowerment Network (BCEN) Maureen Holder said on Tuesday that even with the cap that had been put in place on 44 essential items in July last year, prices in the supermarkets remain too high.She is warning that Barbadians will be worse off if the Barbados Chamber of Commerce and Industry (BCCI) sticks to its position that members may not renew the contract when they meet again with Government to review the arrangement.President of the Chamber Anthony Branker has said that the only thing they are certain of is that the organisation is willing to listen to what the Government comes up with and to have a discussion.
Days after the poultry farmers indicated they would not be part of a renewed Social Partners Food Prices Compact, more members of the business community are also expressing reservations. President of the Barbados Chamber of Commerce and Industry, Anthony Branker, said while they were willing to listen to Government, it placed a burden on some operators. “What I can tell you is that even at the level of some retailers …
Corporate Barbados is hoping for a more respectful relationship between consumers and the business community and for a reduction in commodity prices in the New Year. In his review of 2022 and his outlook for 2023, president of the Barbados Chamber of Commerce and Industry (BCCI) Anthony Branker said he wants to see an end to the suspicion among consumers that businesses are only interested in profiting at their expense.“My hope for the New Year is that we see a world where the volatility subsides and that we can get pricing contained and pricing reduced across the various commodities and items and that we would see a level of respect between business and consumers so that persons don’t think that businesses are out to price gouge and take advantage of them. I think we really need to respect that and to work harmoniously,” Branker suggested in a recent interview with Barbad
The island’s two main private sector organisations are open to discussions about extending the Social Compact under which Barbadians are paying reduced prices for select items.With the compact set to expire on January 31, 2023, chairman of the Barbados Private Sector Association (BPSA) Trisha Tannis and president of the Barbados Chamber of Commerce and Industry (BCCI) Anthony Branker, said they were willing to sit down with the Government to discuss the future of the compact.However, Tannis reported that some businesses had recorded some losses as a result of the measure and they would have to determine whether they could afford to maintain prices at the current level.
President of the Barbados Chamber of Commerce and Industry (BCCI) Anthony Branker says while the rush to be ready for VAT-free days can put a strain on the sector, businesses will be better prepared this time around than they were for the first one a year ago.In an interview with Barbados TODAY ahead of Wednesday’s VAT holiday, Branker also said that while businesses find it difficult to determine the impact of the initiative on their bottom line, he welcomed the opportunity for consumers to shop for goods minus the 17.5 per cent VAT.Asked whether he wanted to see these VAT holidays occurring more frequently, the business leader said: “The challenge with more VAT-free days is that persons would not shop in their normal patterns and when you disrupt the shopping pattern, it is always challenging then to see if you will actually be making more or if you are really coming out at the same point.