PSOJ wants implementation plan for parties' income tax promises

The Private Sector Organisation of Jamaica (PSOJ) is calling for both major political parties to publish detailed implementation plans for their income tax promises.

The People's National Party (PNP) has proposed raising the personal income-tax threshold to $3.5 million, up from $1.7 million, indicating it would be funded from “organic revenue growth” and without new taxes.

On the other hand, the Jamaica Labour Party (JLP) has proposed a phased move to a 15 per cent personal income tax rate, down from the current rate of 25 per cent.

In a media release, the PSOJ said "to preserve Jamaica’s hard-won macro-stability", it was calling for the parties to state in detail the five-year revenue impacts and financing or offset measures relating to their proposals.

It also wants to know sequencing and start dates; debt and primary-balance implications; distributional effects across income bands; and contingency triggers if growth underperforms.

"The PSOJ remains committed to engaging in constructive dialogue to ensure that any tax relief introduced is transparent, fiscally sustainable, and supportive of economic growth, while protecting investor confidence and the delivery of essential public services," the PSOJ said.

Finance Minister Fayval Williams has stated that the JLP's promise to cut the income tax rate to 15 per cent will cost $25 - $30 billion.

Opposition Spokesman on Finance Julian Robinson says his party's proposal would cost $55 billion and will be rolled out starting April 2026.

In the meantime, the PSOJ said it welcomes elements in both parties' manifestos that, if executed well, would strengthen Jamaica’s investment

climate and competitiveness.

From the JLP's it noted "the continued emphasis on macro-stability alongside concrete business-facilitation measures—digital one-stop permitting, QR-coded approvals, and moves to modernise land titling—which can meaningfully reduce red tape and improve the ease of doing business."

From the PNP's, it said it welcomed "the focus on industrial transformation and innovation (the 'Jamaica 4.0' agenda), including Tech Innovation Zones, MSME formalisation and financing tools, and an Innovation Fund—measures that could expand productive capacity and support higher-value jobs if paired with strong execution and public-private collaboration."

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