The Major Infrastructure for Development Programme has received an allocation of $4 billion in the 2014/15 Estimates of Expenditure, which are now before Parliament’s Standing Finance Committee. The project seeks to continue improvement of the island’s road network in order to stimulate economic development and enhance the welfare of Jamaica’s citizens. Achievements, to date, include: completion of an engineering feasibility...

Amendments to the General Consumption Tax (GCT) Act are expected to be tabled in the House by June 2014. The main objectives of the reform of the GCT Act are to broaden the tax base and improve its administration. This is contained in the Supplementary Memorandum of Economic and Fiscal Policies, submitted to the International Monetary Fund (IMF). The document...

Tax Administration Jamaica (TAJ) is reporting a 43 per cent increase in the number of delinquent tax payers taken before the court this financial year, as the agency ramps up its collection strategies to meet its revenue target of $236 billion. Director of Communications at the TAJ, Meris Haughton, also told JIS News that collection measures implemented this fiscal year...

Eleven students of St. Andrew Technical High School (STATHS), who will be sitting the Caribbean Secondary Education Certificate (CSEC) examinations in Spanish next month, are more confident of success due to the assistance of 2013 Civil Servant of the Year, Enthrose Campbell. Miss Campbell, who is a past student of the institution and is currently the Director of Production at...

Government will have to place greater focus on the export of goods and services, rather than domestic consumption, to boost growth in the medium term. This is the view of Vice President, Business Analytics, Portfolio Advisory and Product Development at the Scotia Group, Jason Morris, who said this will take time. “If you think about the Jamaican economy, this has...

Scotiabank Group Executive, Jason Morris, has pointed to positives in the local economy, despite the difficult economic situation being faced by the country. He cited the improving Net International Reserves (NIR); improvement in foreign direct investment flows; and the upward trend in the Gross Domestic Product (GDP), as examples of the positives. He added that the upcoming budget by the...

The Senate on Friday, March 21, passed the fiscal rule legislation, as the government moves to put a cap on what the country can spend. The fiscal rules seek to bolster transparency within the economy and ensure a sustainable budget. Their enactment means that Parliament will have a greater responsibility in the management of the country’s economic affairs. The Bills,...