Government officials defended the necessity of comprehensive business registration and price control mechanisms during a detailed consultation on the Price of Goods Bill 2026, emphasizing modernization efforts and international compliance obligations rather than revenue generation.

Minister of Trade E.P. Chet Greene who attended the session, addressed business owners about the licensing requirements contained in the proposed legislation.

The minister said that no taxes would be charged for business licenses under the new regime, countering concerns raised by some stakeholders that the government was introducing additional taxation on small businesses.

“I don’t want anybody leaving this room with the notion that tax is being created,” Minister Greene stated clearly.

“Therefore, this certificate will be totally free. The department will have to use the existing budget to provide the licences.”

The minister explained that the primary purpose of mandatory business registration extends beyond domestic consumer protection to meet international standards for combating money laundering and tracking commercial activity.

“Let’s suppose there’s a product on the market, and we get a notice that there’s a defect,” Greene said. “If we don’t have traceability in this system, it means that a person is going to literally die before we get to know who the persons are trading in the particular commodity.”

Orin Steele, Director of the Prices and Consumer Affairs Department, provided detailed explanations of the bill’s key provisions throughout the multi-hour consultation.

Steele emphasized that maximum price orders would only apply to specific goods designated under ministerial orders, not all products sold in retail establishments.

According to Steele, before implementing any price controls, the department must conduct comprehensive market assessments.

“The assessment… should be done at the public consultation, taking into consideration the implementation, taking into consideration how drastic the increases were from one point to another,” he explained.

The official also outlined two mechanisms for establishing prices under the proposed law.

The minister can either fix a specific maximum price for a product during emergencies or prescribe a formula based on markup percentages calculated from landed costs.

Steele provided the example of eggs, explaining that during a supply shortage, the minister might determine that eggs cannot exceed fifty dollars based on cost data from farmers.

Parliamentary Counsel Deniscia Thomas clarified that the legislation aims to capture businesses operating in the informal sector that currently fall outside regulatory frameworks.

“We have a very vibrant informal sector who do not pay those taxes,” Thomas noted. “Who are trading in goods in the country and who are not accounted for in the chain.”

Thomas emphasized the importance of statistical collection for economic planning purposes, further explaining that comprehensive business registration would enable government to provide better guidance on investment opportunities by identifying oversaturated market sectors versus areas with gaps.

Minister Greene further spoke to the government’s plan reorganize the business environment.

He argued that Antigua and Barbuda requires more structured commercial operations to support economic growth and protect both businesses and consumers from potential legal complications.

Greene said to attendees: “We are just too loose. We cannot continue this looseness and then expect to have the growth that we want to see.”

The Parliamentary Counsel told attendee that the department will continue to review written feedback from stakeholders by the end of December and potentially revise the legislation before parliamentary consideration early 2026.