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Proposed tax break to be addressed during Budget presentation - PM

Published:Saturday | April 2, 2016 | 4:45 PM
Prime Minister Andrew Holness

Prime Minister Andrew Holness has given an assurance that the proposed tax break for workers earning up to $1.5 million annually will be addressed when the Budget is presented later this month.

This assurance came yesterday following three days of consultations by members of the Cabinet.

The proposed tax break was among several commitments given by the governing Jamaica Labour Party in the lead up to the February 25 General Election.

However, Finance Minister Audley Shaw caused some jitters this week when he revealed that funds the administration was eyeing to fund the tax give-back had already been budgeted.

In a statement released by the Office of the Prime Minister, Holness insisted that the proposed tax break is on track and says the issue will be fully addressed during the presentation of the Budget.

Meanwhile, the Office of the Prime Minister (OPM) says the three-day consultation allowed for an intensive review of existing plans and programmes of the various ministries, departments and agencies.

OPM says Cabinet considered presentations from the Ministry of Finance, the Bank of Jamaica and the Planning Institute of Jamaica.