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Minister of Finance and Planning, Dr. the Hon. Peter Phillips, says the Government will ask the Consumer Affairs Commission (CAC) to monitor some food items, to ensure that the lowered General Consumption Tax (GCT) benefits are passed on to consumers. He said the Government is also asking consumers, to “reject unjustified price increases,” report instances of questionable prices to the...

Animal feed and raw food and vegetables are being retained on the list of items being exempted from General Consumption Tax (GCT), Finance and Planning Minister, Dr. the Hon. Peter Phillips, has announced. At the same time, the Minister disclosed that, following consultations and discussions with the Ministry of Agriculture and Fisheries, it is proposed that, effective July 1, an...

Response to revenue measures Government, after discussion with the Minister of Finance, has completely removed GCT on electricity bills for all residential customers.  Energy Government is awaiting the outcome of the bids and any subsequent negotiations for the provision of necessary infrastructure and the supply of the LNG. Conservation must be practiced in homes, farms, factories, offices, hotels and while...

As Jamaica celebrates its 50th anniversary of Independence this year, the nation must demonstrate to the global community that it is capable of effectively managing  its own affairs, without looking outside for buffers, said Minister of Finance and Planning, Dr. the Hon. Peter Phillips. “We cannot build a country on the expectation – much as we welcome support when we...

There are indications that adjustments will be made to the minimum wage rates during the course of the current legislative year. Prime Minister, the Most Hon. Portia Simpson Miller, in her contribution to the 2012/13 Budget Debate in Gordon House, on June 5, announced that Labour and Social Security Minister, Hon. Derrick Kellier, has been asked to direct the Minimum...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, has called for greater vigilance on the part of officers charged with protecting and accounting for public funds. Dr. Phillips, who was speaking at an audit committee workshop hosted on May 31 by the government's Audit Commission at the Jamaica Conference Centre, downtown Kingston, insisted that accounting officers and similar...

The Government’s chief planning agency, the Planning Institute of Jamaica (PIOJ), is reporting Gross Domestic Product (GDP) growth of 0.6 per cent for the first quarter of 2012, relative to the corresponding period last year. Agriculture, wholesale and retail, and tourism were the main growth drivers, with activities in the goods producing industries increasing by some 1.4 per cent. Agriculture,...

Opposition Spokesman on Finance, Planning, Growth and Economic Development, Audley Shaw, has lauded the move by the Government to further enhance the role of the Public Administration and Appropriations Committee (PAAC). Making his presentation in the 2012/13 Budget Debate in the House of Representatives, Tuesday May 29, Mr. Shaw said the Opposition welcomed the Minister’s announced intention to expand the...

The Jamaican economy is expected to grow by at least 4.2 per cent over the medium-term. For the current financial year, growth is projected at one percent and increase to 1.3 per cent for 2013/2014, and 1.9 per cent for 2014/2015. Finance and Planning Minister, Hon. Dr. Peter Phillips, in presenting the medium-term growth prospects as he opened the 2012/13...

Finance and Planning Minister, Hon. Dr. Peter Phillips, says work is far advanced on the establishment of a framework for a Public/Private Partnership (PPP) policy. He also announced the establishment of a PPP Secretariat in the Development Bank of Jamaica (DBJ), while opening the 2012/13 Budget Debate in the House of Representatives on May 24. In an address entitled: ‘A...

Finance and Planning Minister, Hon. Dr. Peter Phillips, says improving the climate for doing business is critical to attracting the levels of investment needed to grow the economy. The Minister, who was opening the 2012/13 Budget Debate in the House of Representatives on Thursday (May 24), stated that sustained growth and prosperity will only be achieved by the “creative pursuit...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, says the budget presented by the government seeks to lay the foundation for future growth and prosperity. Dr. Phillips, while opening the 2012/13 budget debate in Gordon House on Thursday (May 24), said it is the intention of the government to reduce debt and maintain the gains that have been...