BRIDGETOWN, Barbados — Prime Minister Mia Mottley says her administration has provided approximately BDS $94 million in relief measures to help Barbadians manage rising living costs, including higher electricity bills, fuel prices and other essential expenses.
Speaking at the Barbados Labour Party’s 87th Annual Conference on Saturday, October 24, Mottley outlined several government initiatives intended to cushion households against global economic pressures, including rising energy costs associated with the conflict in Iran.
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“Since April, this government provided $40 million in cost-of-living cash credit to 57,985 Barbadians,” Mottley said.
She explained that the cash assistance was directed towards pensioners, recipients of special-needs grants and people receiving welfare benefits.
The Prime Minister also highlighted the government’s decision to absorb half of recent fuel-related increases in electricity costs rather than passing the full increase on to consumers. According to Mottley, the measure has provided approximately BDS $11 million in support to the Barbados Light & Power Company.
Other initiatives include extending the reduction in value-added tax (VAT) on the first 250 kilowatt-hours of electricity consumed and allocating BDS$36 million to the Barbados National Energy Company to help stabilise diesel and gasoline prices for motorists and public transportation operators.
Mottley said water subsidies and other concessions also contributed to the overall relief package, bringing its value to approximately BDS $94 million.
Beyond immediate cost-of-living assistance, the Prime Minister pointed to legislation designed to strengthen financial protection for credit union members.
“We have also passed legislation to extend deposit insurance protection to credit unions and [those] who got accounts in credit unions in this country,” she said.
The legislation is scheduled to be introduced in January 2027 and is expected to extend deposit insurance coverage to more than 100,000 credit union members, helping protect their savings, including funds set aside for education.
Mottley attributed the government’s ability to provide the assistance to its fiscal management and urged Barbadians to continue managing their household finances carefully amid global economic uncertainty.
The announcement comes as Barbados faces continued pressure from higher international energy prices and other external economic challenges. The government’s measures are intended to limit the impact on households while maintaining its broader development priorities and fiscal commitments.
