The Government is projecting to spend $579.93 billion for the 2016/17 fiscal year. This amount is 28 percent less than the $808 billion Revised budget for financial year 2015/16. Details of the projections are contained in the Estimates of Expenditure, which were tabled in the House of Representatives on Thursday (April 14), by Minister of Finance and Public Service,  Hon....

The Government has given an undertaking to engage micro, small and medium-sized enterprises (MSMEs) in a partnership to further spur the administration’s programme of economic growth and job creation. Finance and Public Service Minister, Hon. Audley Shaw, says the Government is keen on forging this partnership, as it regards MSMEs “as engines of growth.” He pointed out that they are...

Chairman of the Jamaica International Financial Services Authority (JIFSA), Eric Crawford, says the country has a strong financial regulatory regime, which is compliant with international standards and procedures, and retains the confidence of the global monitoring bodies. The assurance comes in light of growing public interest in the recent leakage of confidential documents from Panamanian law firm, Mossack Fonseca. The...

Minister of State in the Ministry of Finance and the Public Service, Hon. Rudyard Spencer, has hailed the launch of the Sanmerna Foundation Limited, which aims to improve the lives of the youth and the elderly in inner city communities through initiatives in education, health and sports. Mr. Spencer said the Government welcomes interventions aimed at assisting the most vulnerable...

On Thursday, April 14, Jamaicans will hear how much the Government intends to spend for the fiscal year 2016/17. Minister of Finance and the Public Service, Hon. Audley Shaw, will table the Estimates of Expenditure in the House of Representatives, which will provide details on what the Ministries and Agencies will receive for Recurrent (housekeeping) and Capital (development) expenses. This...

Minister of Finance and the Public Service, Hon. Audley Shaw, says the Government will not implement the retroactive provision under the transfer pricing tax regime. “I am not going to insist that the transfer pricing submissions be made retroactive to last year. It does not make sense,” Mr. Shaw asserted, while addressing a Private Sector Organisation of Jamaica (PSOJ) President’s...

The Government is to pay the new rates for pensioners starting April 2016. Minister of Finance and the Public Service, Hon. Audley Shaw, who made the disclosure during the sitting of the House of Representatives on Tuesday (March 29), said the payments will be retroactive to July 2015. Approximately 35,000 pensioners including spouses and dependents paid by the Accountant General...