Fri | Oct 20, 2017

Fuel tax driving up prices, roll it back – Paulwell

Published:Friday | June 2, 2017 | 10:15 AMJerome Reynolds
Paulwell

Opposition Spokesman on Energy, Phillip Paulwell, says the Government should review the tax on fuel so as to hault the jumps in prices and ease the burden on the vulnerable.

According to Paulwell, the tax is one of the major factors driving up the cost of fuel in Jamaica.

While admitting fuel prices on the world market fluctuate, he argues that the situation in Jamaica is made worse by the additional levy on fuel.

In March, the Government announced increases in the Special Consumption Tax on fuel will range from $0.43 to $7.36 per litre.

It said it expects to generate $7.5 billion from the tax.

The tax is part of revenue measures by the government to fund its election promise to increase the income tax threshold.

According to Paulwell, fuel prices in Jamaica have gone up by 40 per cent between January and June 1.

He argues that the tax on petrol and petroleum products is ill-conceived and its effect has begun to hurt the average Jamaican.

 

Opposition Spokesman on Energy, Phillip Paulwell

The opposition spokesman says the economy and the well-being of Jamaicans will be negatively impacted if the fuel tax remains.