The Development Bank of Jamaica (DBJ) will set aside $90 million to assist landowners who have applied to the Land Administration and Management Programme (LAMP) for titles and are unable to complete the process due to lack of funding. ​The sum will be administered through a Landowner Payment Assistance Facility,which will specifically target those landowners who have made some payments toward their files, but who have been unable to find the remaining funds to complete thetransaction. ​“This is significant because it has implications...

A total of $727 million has been allocated to support the provision of additional classroom places in infant, primary and secondary schools across the island. This was revealed by Finance and Planning Minister, Dr. the Hon. Peter Phillips, who also said an additional $119.3 billion has been provided to improve sanitation in schools. ​He was speaking during the opening of the Budget...

A total of $557.7 billion will be spent on Central Government operations for the fiscal year 2014/15. Making the disclosure during the opening of the Budget Debate in the House of Representatives on April 17, Finance and Planning Minister, Dr. the Hon. Peter Phillips, said the sum includes $17.7 billion to be funded from user fees/charges and grants. ​He informed that of the total budget, $233 billion or 42 per cent will go towards debt servicing and...

Effective January 1, 2015, the threshold on Personal Income Tax will be increased by $49,920 from the present value of $507,312 to $557,232. This was announced by Minister of Finance and Planning, Dr. the Hon. Peter Phillips, as he opened the 2014/15 Budget Debate in the House of Representatives on April 18. The Minister noted that this will result in an additional 13,000 persons being removed from...

Legislation has been prepared and consultations underway to improve the public procurement process, Minister of Finance and Planning, Dr. the Hon. Peter Phillips, has pointed out. Opening the 2014/15 Budget Debate in the House of Representatives on April 18, the Minister explained that this is part of the Government’s commitment to improving its internal operations. He also informed that there...

Establishing a One Stop Shop for import/export inspection at the Montego Bay ports is among initiatives to be introduced by Government to cut red tape and improve the ease of doing business in the country. This will bring together all regulatory agencies involved in the inspection process to a single location, so that all associated transactions occur in one place. One such facility is already operating at...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, has emphasized the need to continue the process of fiscal consolidation as a strategy going forward. He also noted that essential structural reforms will have to be pursued, that will lock-in the current gains of fiscal consolidation over the long term, and create an environment that facilitates investment, protects and strengthens the foundation of the financial system, and facilitates improved levels of...

​Minister of Finance and Planning, Dr. the Hon. Peter Phillips, says there has been a significant improvement in the level of collections by the Students’ Loan Bureau (SLB). ​Opening the 2014/15 Budget Debate in the House of Representatives on April 17, Minister Phillips informed that there has been a marked improvement in the number of borrowers willing to meet their...