Sun | Aug 20, 2017

Don't be swayed by JLP's tax promises, says PNP

Published:Saturday | February 6, 2016 | 2:10 AM
JLP Leader Andrew Holness is promissing to raise the income tax threshold if his party wins the next general election.

The People’s National Party (PNP) has described JLP Leader Andrew Holness’ recent public broadcast, promising to raise the personal income tax threshold to $1.5 million as deceptive and laced with empty promises.

The PNP says Holness must state how he will address the shortfall in income tax revenue, while also promising to spend over $5 billion on promised infrastructure and on health and education.

The PNP’s Campaign Spokesperson Delano Franklyn is cautioning voters against being swayed by what he has described as impulsive commitments from a man desperate for power.

In addition, Franklyn says the plan by the JLP to list some state entities on the stock market, will place the Government in head to head competition with medium sized businesses, risking jobs and business growth.

Financial analyst, Ralston Hyman, and the Nurses Association of Jamaica have also asked that Holness explain how he would fulfil his promise of income tax removal in the current economic climate.

Hyman says the government currently makes $73 billion in revenue from taxes on personal income above $592,800 per year.

He says if Holness becomes Prime Minister and raises the current threshold to $1.5 million, the government stands to lose about $32 billion yearly.