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Jamaicans worse off because of tax plan, says Phillips

Published:Monday | June 13, 2016 | 6:55 AM
Phillips citing the jump in fuel prices as one example, said already the cost of living has started to increase.

The Opposition Spokesman on Finance Dr Peter Phillips intensified his criticism of the Government on the weekend telling Comrades in Linstead, St Catherine that Jamaicans are suffering because of the Administration's recently announced Budget.

According to Phillips, the Budget was crafted mainly to finance the controversial $1 million tax break plan.

Phillips citing the jump in fuel prices as one example, said already the cost of living has started to increase.

 

Opposition spokesman on Finance Dr. Peter Phillips

He said the increase in the cost of living will affect mainly poor people adding that they will be worse off as the Government seeks to finance the tax plan.

In the run up to the February 25 General Election, the Jamaica Labour Party had promised that persons earning up to $1.5 million would no longer have to pay income taxes as of April 1.

However, there was intense rejection of the plan with the Opposition among critics saying it could not work.

On assuming office, the Finance Minister Audley Shaw would instead announce a new phased plan.

He has raised the income tax threshold from $592,000 to $1 million effective July 1 with a promise to further increase it to $1.5 million come April 1 next year.