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'Undoubtedly a good move'... Economist endorses new consumption taxes

Published:Thursday | May 12, 2016 | 8:57 PM

Economist Dr Damien King is supporting the Government's tax package announced Thursday saying it targets people who have been evading income taxes.

Earlier, Finance Minister Audley Shaw announced just over $13 billion in additional taxes to make up for the $12.65 billion the government will give up with the raising of the income tax threshold from $592,800 to $1 million come July 1.

READ: Income tax threshold to be increased to $1 million July

Commenting on Twitter, King argued that using consumption taxes, primarily on petrol and travel, to finance the increase in the threshold is "undoubtedly" a good move.

"The tax burden has been shifted from over-burdened formal sector workers to those who evade income taxes," King tweeted.