Research indicates that setting a retirement age should account for not only life expectancy but also the type of work and the well-being of individuals. Striking a balance between financial sustainability and the humane treatment of workers is paramount. A retirement age of around 65 or 66 aligns better with average life expectancy and provides a buffer for individuals to …

The Bridgetown Initiative, spearheaded by Barbados Prime Minister Mia Mottley, presents a groundbreaking proposal to revolutionize climate finance and empower climate-vulnerable countries, particularly small island developing states (SIDS). This article explores the key aspects of the Bridgetown Initiative and its potential to transform the global financial system, offering a comprehensive overview of its objectives and implications. Understanding the Challenges Faced …

Food security is a pressing concern for nations across the globe, especially in the Caribbean region, where many countries heavily rely on food imports. For decades, the concept of “eat what you grow” has been at the forefront of agricultural strategies, promoting self-sufficiency and reducing dependence on imported food. However, Member of Parliament Lisa Hanna’s recent remarks have sparked a …

An aging population can have significant implications for a country’s workforce, healthcare, and social welfare systems. With declining birth rates and increasing life expectancy, many countries are facing this demographic shift. For example, Japan has one of the oldest populations in the world, with more than 28% of its citizens aged 65 or older. This has resulted in a shortage …

Raising the minimum wage is a contentious issue that often divides stakeholders. On the one hand, advocates argue that raising the minimum wage can reduce poverty, increase consumer spending, boost productivity, and promote social justice. On the other hand, opponents claim that raising the minimum wage can increase unemployment, reduce profits, raise prices, and harm small businesses. In addition, another …

A progressive tax rate is a system where the percentage of tax paid increases as the income or wealth of the taxpayer increases, while a regressive tax system is one where the percentage of tax paid decreases as the income or wealth of the taxpayer increases. A progressive tax system is often designed to achieve greater income equality and reduce …

The Barbados government has released a draft population policy that aims to address the country’s declining population growth rate and its consequences, such as a decrease in the workforce and government revenues due to an aging population. The policy outlines three goals: to promote a sufficient population size, to provide opportunities for personal development, and to promote integrated settlement development. …

The International Monetary Fund (IMF) is a global organization that provides financial assistance to member countries facing economic challenges. The IMF aims to promote international monetary cooperation and stability, facilitate the balanced growth of international trade, and provide resources to assist member countries in need. The policies and programs of the IMF often have a significant impact on the economies …

Barbados, like many other countries, is faced with the challenge of balancing the need for revenue generation with the need for an equitable tax system. One potential solution that has been proposed is raising VAT and lowering income tax. In this blog article, we explore the potential impact of such reforms on the Barbadian economy and society, with a particular …