Fri | Jan 19, 2018

Phillips says J'cans worse off by Gov't's economic management

Published:Wednesday | January 18, 2017 | 1:43 PM
Phillips

The Opposition spokesman on finance Dr Peter Phillips has accused the Andrew Holness administration of shelving sound national economic management for partisan political considerations.

In his contribution to debate on the First Supplementary Estimates of Expenditure in Gordon House last night, Phillips said the life of the average Jamaican has been turned upside down because of the administration’s approach to economic management.

Revisiting the $1.5 million tax relief by the Government, Phillips contended that the way this tax plan was being done is disruptive of the fiscal accounts and runs the risk of causing serious fiscal imbalance from which the country will suffer for a long time to come.

Phillips also accused the government of reneging on its promise not to impose new taxes to fund the tax relief saying instead the administration has imposed taxes amounting to $14 billion.

He asserted that the new taxes had a devastating effect on Jamaican’s poorest people who did not benefit from the tax relief.

According to Phillips, the Government ignored the advice of the International Monetary Fund to put in place a safety net to cushion the impact on them when the Government imposes some $30 billion in taxes for the upcoming fiscal year.

 

Opposition spokesman on Finance Peter Phillips