Barbados announces rescue package

The Barbados government has announced a rescue package to help the country cope with the impact of the global financial crisis.



It said it will be pumping US$5million into the island\'s tourism sector to help it.



Prime Minister David Thompson told Parliament that the funds would be made available on condition that hoteliers do not lay off staff.



He said the aid package could include tax concessions.



The Barbados Hotel and Tourism Association had asked for a moratorium on land tax for this year and a reduction in value added tax on certain goods.