Sat | Nov 27, 2021

Controversial bank tax future to be known today

Published:Wednesday | April 30, 2014 | 10:47 AM

Debbie-Ann Wright, News Editor - Radio

KINGSTON, Jamaica:

Finance Minister, Dr Peter Phillips is to announce today whether the Government will go through with the controversial tax on withdrawals from deposit-taking institutions.

There has been opposition to the $6.7 billion in new taxes, announced by Dr Phillips when he opened the Budget Debate two weeks ago.

However, the tax on bank withdrawals has been the most criticised, with the Opposition threatening street protests.

And last week, Dr. Phillips told a meeting of trade union leaders that he will be reviewing the revenue measures.

He said he would say whether any changes would be made when he closes the Budget debate this afternoon.

Yesterday, Prime Minister Portia Simpson Miller said she has taken note of the concerns about the tax and that the concerns would be addressed by Phillips today.

WATCH: ON THE RECORD: John Jackson talks budget matters

Like our new Facebook page:

Gleaner Jamaica

Follow us on Twitter: