Barbados 2024/25 Budget

Resilient Bajans, Resilient Barbados

The Hon. Mia Amor Mottley S.C. M.P., Prime Minister of Barbados and Minister of Finance, Economic Affairs and Investment presented the Government’s Budgetary Proposals and Financial Statement 2024 covering the fiscal period 2024 to 2025 on Monday, 18 March 2024. 

In a speech the Prime Minister referred to the budget as “A conversation with Barbadians, about where we came from, where we are now, where we go next and how we get there.” She highlighted, “It is a budget that will secure Our Barbados of Today and Our Barbados for Tomorrow”. She announced early on that there would be no new taxes imposed on all citizens. Instead she focused on the need to drive security through Barbadians achievements and joint efforts to all benefit from a share of prosperity.

We are pleased to provide our perspective and comments on some of the fiscal measures announced during the budget presentation. Should you wish to discuss the impact of any of the proposed measures on your organisation, please reach out to our Tax and Legal Services team.