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Minister of Finance and the Public Service, Hon Audley Shaw, has again called for the lowering of interest rates to single digits, to boost production within the Jamaican economy. "We have to have a consensus around bringing interest rates down in the economy. Irretrievably down to single digit interest rates, that is where we are going", he stated. He made...

Minister of Finance and the Public Service, Hon. Audley Shaw, said today (April 22), that he was pleased at the broad support he has received from members of the private sector and the Opposition, for his proposal to introduce a flat tax for micro, small and medium sized enterprises (MSMEs). He explained that the flat tax could be an important...

Figures produced by the Statistical Institute of Jamaica (STATIN) have shown that inflation slowed in March to 0.5 per cent, compared with 1.4 per cent in January and 2.2 per cent in February, Minister of Finance and the Public Service, Hon. Audley Shaw told the House of Representatives, on Wednesday (April 21). Closing the 2010/2011 Budget Debate at Gordon House,...

In an important study just released, the independent Caribbean Policy Research Institute (CAPRI) has strongly endorsed the Government's debt exchange programme, saying "the Jamaica Debt Exchange has turned an unsustainable fiscal situation into a potentially sustainable one. The fact and manner of the programme deserves kudos for both the government and domestic debt-holders". The study, which looks at the experiences...

The Jamaica Stock Exchange has seen an increase in both the volume and value of stocks traded since the Jamaica Debt Exchange (JDX) in February, Minister of Finance and the Public Service, Hon Audley Shaw, said Wednesday (April 21). Mr. Shaw credited the increases to the fall in interest rates as a result of the JDX, explaining that there is...

Minister of Finance and the Public Service, Hon. Audley Shaw, has said the Government has been implementing fiscal policies to ensure growth in 2010/11. "As we strive to ensure that Jamaica is the place of choice to live, work, raise families and do business, this Government has been implementing a number of national strategies, including ensuring fiscal and debt sustainability...

The Ministry of Finance and the Public Service has communicated to the Ministry of Education that a special waiver has been put in place for schools to be relieved of the 10 percent General Consumption Tax (GCT) now payable on the supply of electricity. Schools are required to submit a letter to the Commissioner of the Inland Revenue Department requesting...

Minister of Finance and the Public Service, Hon. Audley Shaw, has stated that the Government does not plan to introduce any new tax over the next two years. "It is not my intention over the medium term, and certainly during the term of the International Monetary Fund (IMF) agreement, over the next 27 months, to introduce any new tax at...

Minister of Finance and the Public Service, Hon. Audley Shaw, has noted that during the 2010/11 Budget Debate, which ended Wednesday (April 21) at Gordon House, the stability of the Jamaican economy was not questioned. "Despite the many challenges that we have faced, no one has questioned the stability that now exists in the Jamaican economy," Mr. Shaw said, as...

Minister of Finance and the Public Service, Hon. Audley Shaw, yesterday (April 21) sought to clarify the financing arrangements between the Bank of Jamaica (BOJ) and the Finance Ministry. He was responding to questions raised by the Opposition while making his closing presentation in the 2010/11 Budget Debate in Gordon House. Mr. Shaw explained that at various points during the...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, met with individuals from the local export community Tuesday (April 20), in a bid to increase communication between industry players, as well as develop effective solutions to sector problems. The forum, titled "Let's Talk Exports," was held at the Caymanas Golf and Country Club in St. Catherine. It was the first...

National Insurance Scheme (NIS) pensioners are to receive a 20 per cent increase in benefits, as of June 1, 2010. This was announced today (April 20), by Prime Minister, the Hon. Bruce Golding, during his contribution to the 2010 Budget Debate in the House of Representatives. He also disclosed that there will be other increases to beneficiaries under the NIS,...