Roads get less from gas tax
WHEN IT was in Opposition, the People's National Party complained bitterly that the then Government was not honouring its commitment to put a prescribed per cent of the fuel tax into the Road Maintenance Fund (RMF).
But, in his first full budget since taking over as finance minister in January, Dr Peter Phillips has signalled his intention to reduce the amount of funds from the gas tax that will flow into the RMF.
The estimates of expenditure tabled on Thursday shows that a total of $1.4 billion dollars is budgeted to flow into the fund which shows a drop from the $1.5 billion last year.
When Finance Minister Audley Shaw introduced the fuel tax in 2008, he promised that 20 per cent of the fuel tax would be paid into the RMF in the first year and thereafter increase the amount to 35 per cent.
Consumers pay a special consumption tax of $8.75 per litre on fuel.