Wed | Oct 18, 2017

NDM against proposed transfer of money from TEF to Consolidated Fund

Published:Monday | March 20, 2017 | 1:55 PM
Townsend argues that over the years Governments have taken money from financially healthy public bodies but have failed to properly use these funds.

The National Democratic Movement (NDM) says Prime Minister Andrew Holness should announce a reversal of the plan to transfer money from the Tourism Enhancement Fund (TEF) to the Consolidated Fund when he speaks in the Budget Debate this week.

NDM President, Peter Townsend, says the party believes the move is a retrograde step and should be reconsidered.

Townsend argues that over the years Governments have taken money from financially healthy public bodies but have failed to properly use these funds.

He says areas of the country’s development have suffered because the Government has funnelled taxes designated for specific purposes into the Consolidated Fund.

He cites the rerouting of the Education Tax into the Fund and the billions in drawdowns from the National Housing Trust for budget support.

The NDM president says the party believes the TEF, which is funded by a tax on airline tickets, should continue to be used to support building brand Jamaica.

Townsend says the party believes it is unfair for the Administration to raid the TEF to fulfil its income tax relief election promise.

 

NDM President, Peter Townsend