Minister without Portfolio in the Ministry of Finance and Planning, Hon. Horace Dalley, is assuring public sector workers, particularly security groups, that there is no need to take the option of early retirement, in order to secure pension lump sum entitlements. “The reformed pension system, to come on stream in 2016, will preserve the lump sum entitlement. This government is...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips and a four-member team will travel to the United States (US) on July 7, to meet with financial institutions and rating agencies in New York and Washington. Members of the delegation will hold meetings in Washington with critical stakeholders and the US Treasury to update them on the progress being...

MMinister of Finance and Planning, Dr. the Hon. Peter Phillips, says that Jamaica must make “the hard financial decisions now”, in order to protect the economic future of generations to come. “We need to reform our economic life, we need to reduce the level of public debt and we need to do so urgently if Jamaica’s sovereignty is to have...

The House of Representatives, on Wednesday, June 19, passed the Revenue Administration (Amendment) Act. Debate on the Bill was suspended last week to allow for further deliberations on the proposals contained in the Act. The move came after the Opposition raised concern about some of the provisions in the legislation, which seeks to, among other things, bring about significant improvements...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, said the Government is actively pursuing investments in a number of critical areas as it looks to grow the economy. He said that several multi-billion dollar projects are underway, and others are slated to come on stream, which are expected to spur economic activity. Dr. Phillips was speaking on Tuesday,...

Over $110 million was spent in the 2012/2013 fiscal year to patch and rehabilitate roads with retaining walls in the constituency of South East St. Ann. Minister of Youth and Culture and Member of Parliament for the area, Hon. Lisa Hanna, made the disclosure on Tuesday, June 18, during her contribution to the 2013/2014 Sectoral debate in the House of...

Debate on the Revenue Administration (Amendment) Act has been suspended until June 18, to allow for further deliberations on the proposals contained in the Act. The move came after the Opposition raised concern about some of the provisions in the legislation, which seeks to, among other things, bring about significant improvements to the ability of the tax authorities to access...

Commissioner of Customs, Major Richard Reese says the Department is clamping down on “leaking revenues” and will be going after persons who try to beat the system. He said that additional measures are being looked at to deal with persons, who breach the Customs Act. “You have persons, who evade duties and have excess goods. You have persons, who undervalue...

Bank of Jamaica (BoJ) Governor, Brian Wynter is assuring the country that there is no need for alarm over the movement in the exchange rate. “The bank and I are aware of the concerns about recent movements  in the exchange rate…I want to reassure you that the depreciation in the exchange rate thus far has been in keeping with our...