The Planning Institute of Jamaica (PIOJ) said growth of 6.2 per cent is expected in the construction industry for the October to December 2020 quarter. Finance and Public Service Minister, Dr. the Hon. Nigel Clarke, who opened the 2021/22 Budget Debate in the House of Representatives, on March 9, said during April to June 2020, construction declined by 14.5 per...

For the upcoming fiscal year, Jamaica will invest $114 billion or approximately six per cent of gross domestic product (GDP) in education. Opening the 2021/22 Budget Debate in the House of Representatives on March 9, Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, said that the Government continues to allocate the largest share of its Budget,...

Among the Government’s top priorities for economic recovery is ensuring that social support is bolstered to assist vulnerable persons, who are most affected by the coronavirus (COVID-19) pandemic, says Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke. He was opening the 2021/22 Budget Debate in the House of Representatives on Tuesday (March 9). He noted that in...

In the upcoming financial year, the Government will be advancing the passage of two companion Bills, which will enable the creation of a framework to bring the operations of credit unions fully under the supervisory and regulatory regime of the Bank of Jamaica (BOJ). These are the Credit Unions (Special Provisions) Bill and the Co-operative Societies (Amendment) Bill. The move...

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, on Tuesday (March 9) announced that the Government will not be introducing any new taxes to fund the $830.8-billion Budget for 2021/22. “We are prioritising economic recovery, which we want to achieve in the quickest possible time. Increasing taxes at this time would run counter to that objective,” Dr....

The transition of the Bank of Jamaica (BOJ) to an independent institution is slated to take effect on April 16, 2021. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says he will be taking steps to bring the Bank of Jamaica Amendment Act into effect then, adding that as of that date, the BOJ, particularly the...

Effective April 1, students seeking a loan from the Students’ Loan Bureau (SLB), will now only require one guarantor instead of two. This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who said this is being done to broaden accessibility to this loan facility, particularly for low-income families. “One hurdle that creates a...