Holness' income tax threshold idea and the IMF: Hyman demands details
Financial analyst, Ralston Hyman, says Opposition Leader, Andrew Holness needs to explain how he would safeguard Jamaica's programme with the International Monetary Fund, while fulfilling his promise to remove the income tax requirement for people earning $1.5 million or less each year.
According to Hyman, the government currently makes $73 billion in revenue from taxes on personal income above $592,800 a year.
Hyman says the Opposition Leader should tell Jamaica how he plans to make up the revenue shortfall, without increasing the debt and derailing the economic reform programme.
The promise to raise the income tax threshold was among 10 commitments Holness outlined in a national broadcast last night.
Holness says the commitments are among many innovative things a JLP government will do to place Jamaica on the path to economic growth and job creation.
He also said the JLP would immediately restore the benefits at the Junior Stock Market and create a special council of investment ambassadors to seek out large investors from all over the world; and fix Jamaica’s infrastructure.