Letter of the Day | Great move, Dr Clarke
THE EDITOR, Sir:
Minister of Finance and the Public Service Dr Nigel Clarke announced six tax cuts and adjustments in critical sectors that undoubtedly will lower the financial burden of thousands of Jamaicans across the island, effective April 1, 2019.
I honestly cannot recall in our history a similar initiative that had been undertaken by previous governments that will positively affect so many sectors.
These measures will see the Government giving back $14 billion to consumers. It is, indeed, evident that a new Jamaica is, in fact, emerging, and we ought to be more positive and optimistic about our future.
Let’s face it. For the Government to have seen the necessity to reduce and sever some taxes, which will significantly aid small and medium-sized enterprises and individuals, ought to signal to us as a nation that we are, in fact, in safe, capable hands.
Lower tax rates will spur economic growth, as this could provide more after-tax income that could be utilised for the purchase of more goods and services.
TIME AND EFFORT
Further, the reduction will boost savings and investments, which undoubtedly will increase the productive capacity of the economy. This move will also unquestionably have far-reaching implications that will attract even more scrutiny and interest from other countries regionally and globally.
Jamaica is quickly becoming a forerunner in enlightening the leaders of several nations on how to stimulate growth and develop similar policies that will aid their respective countries.
The Jamaica Labour Party has evidently been working tirelessly to build a more efficient and productive system, and we are now reaping some of the fruits of their labour.
Several other initiatives have been recently implemented across various sectors which will greatly enhance the economic and cultural landscape of Jamaica in due time.
It is imperative that we understand that national policies take time to anchor to become stable and capable of producing the desired effect.
Our main challenge is that we have to learn the art of patience so that we can savour the moment of these accomplishments.
We are so grossly caught up in the instant-gratification lifestyle that we become excessively petulant if change is not immediate.
Notable, durable change requires time and effort.
I think our main responsibility as a nation is to support the plans of action of our elected officials once they make sense to us and benefit our country. It really should bear no significance which ‘side’ they’re coming from. We have to move away from the culture of political separatism if we are to realise our greater potential.