Effective January 1, 2011, bus fares will be BB$2 – an increase of 50 cents.
Minister of Finance and Economic Affairs, Christopher Sinckler, in his first budget presentation since assuming that new office on September 30th, this year after a cabinet reshuffle said this would add $8.4 million in revenue to the Transport Board.
Speaking from the floor of the House of Assembly, he said the Board has continued to accumulate large deficits over the years, adding that it was unable to meet its debt servicing cost and based on the current tariff was unable to meet its operating costs.
“The Transport Board however provides an essential service in transporting people across the island at a reasonable cost. In the present circumstances however, Government cannot afford to carry the level of subsidy required to support the operating cost of the Board.
“Moreover the Board should be placed in a position to allow it to operate in a more businesslike manner thereby reducing the extent to which they rely on Government for transfers,” he said
