Reduction of the General Consumption Tax (GCT) rate from 16.5 per cent to 15 per cent is among $18 million in tax cuts announced by the Government. The objective is to stimulate economy activity and to continue the reform of the tax system towards greater levels of equity, efficiency and simplicity. The GCT cut, effective April 1, 2020, will result...

The full roll-out of the Orders for Special and Differential Treatment Measures (Set Asides) is expected to commence in the third quarter of the upcoming fiscal year. This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, as he opened the 2020/21 Budget Debate in the House of Representatives on March 10. Orders for...

The Ministry of Education, Youth and Information has received the largest share of the Government’s $853.5-billion Budget for 2020/21, totalling some $117 billion. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, said the provision is $5 billion more than the allocation for 2019/20, and represents the largest increase for the upcoming fiscal year, outside of sums...

Jamaica’s capital expenditure budget has increased significantly over the past few years, moving from approximately $30 billion in 2015/16 to $74 billion in financial year 2020/21. This was noted by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, while opening the 2020/21 Budget Debate in the House of Representatives on March 10. Dr. Clarke said Jamaica...

The 2020/21 Budget Debate gets under way in the House of Representatives on Tuesday, March 10, with the opening presentation by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke. He is slated to outline how the Government’s proposed $853.5-billion expenditure for the upcoming fiscal year will be funded. The sum, which was initially $852.7 billion, has...

The National Solid Waste Management Authority (NSWMA) is to receive 20 new garbage trucks in May, says Minister of Local Government and Community Development, Hon. Desmond McKenzie. The trucks are the first of 120 additional units being procured by the Government to significantly boost the NSWMA fleet in order to improve garbage collection across the island. Minister McKenzie, who was...

Minister of National Security, Hon. Dr. Horace Chang, says over the last four years, the Government has doubled its investment in security annually, as part of measures to improve public safety. “In 2016/17, we spent some $2.5 billion. This amount was doubled in 2017/18 with an allocation of $5.5 billion; in 2018/19 we went up to $11 billion and during...