The budget Debate continues and Dr. Peter Phillips, leader of the Opposition People's National Party, delivered his budget rebuttal, titled Empowering the People restoring Hope.
Where Was Phillips' Main Focus?
The budget Debate continues and Dr. Peter Phillips, leader of the Opposition People's National Party, delivered his budget rebuttal, titled Empowering the People restoring Hope.
Where Was Phillips' Main Focus?
NO NEW TAXES
For the first time ever, to the best of my knowledge, the Government has tabled a Budget without implementing new tax revenue measures. Traditionally, we take it as a norm for the government to add a new tax category or increase the tax on an existing source to help generate revenue, given the country's limited fiscal space.
WHAT IS THE MEDIUM TERM DEBT STRATEGY?
Jamaica's pursuits to increase its per annum economic growth rate is somewhat dependent on the country's ability to maintain macroeconomic stability and measures in place to effectively monitor and manage its public debt.
An estimated $773 billion is expected to be spent by the Government during the next fiscal year (FY) as the items of expenditure for the 2018-2019 Budget has been tabled by the Ministry of Finance and the Public Service. The projected expenditure for the 2018-2019 FY is $31 billion less than the $805.5 million spent last year.
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