Thu | Aug 17, 2017

My view on the Throne Speech: From where will the funds come?

Published:Friday | April 15, 2016 | 4:00 AM
Kemar Hall
From left: Mikol Mortley, Rochelle Johnson,Wendel Ivey,Shannique Rhoden, Kemar Hall and Jonielle McIntosh, economics students at the University of the West Indies, Mona campus, watched and assessed yesterday's Throne Speech delivered by Governor General Sir Patrick Allen. With them is economics lecturer Dr André Haughton.
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Job creation was one of the main focuses of the Throne Speech.

However, the type of jobs to be created was not specified, neither the percentage of the population that would benefit from these jobs.

In an effort to improve the efficiency and the strength of the public sector, the Government has highlighted measures such as the electronic business registration system, the trade-facilitation programme, the human capital management enterprise system, the ITC programme, and the digitisation of public-record management that will lead to greater productivity in the economy.

Additionally, establishing the railway services, redevelopment of the Vernamfield Airbase, and the reopening of the bauxite and alumina sector are all positive indicators of economic development.

The single corruption body act and criminal legislation evidence of TV links and video will improve our justice system.

However, with Jamaica's high debt-to-GDP ratio and the proposed income tax reform, the question is, where will funds come from to finance these new projects?

The drugs act to fully legislate the medical usage of marijuana and the privatisation of the Norman Manley International Airport will provide the country with income, but this is statistically insignificant in relation to the country's large debt.

- Kemar Hall