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Minister of State in the Ministry of Finance and the Public Service, Senator Arthur Williams, outlined measures being taken to deal with the macroeconomic challenge of an oversized public sector wage bill, to an investment seminar in Cancun, Mexico on Sunday (March 21). Senator Williams spoke at an investment seminar hosted by international investment firm, JP Morgan, during the Annual...

Minister of Finance and the Public Service, Hon. Audley Shaw, has indicated that the 2010/11 Budget, which will be tabled on Thursday (March 25), will be $100 billion below the 2009/2010 estimates. "Thursday is going to show quite a bit of compression," Mr. Shaw said, in reference to the fact that the State Opening of the new session of Parliament...

Minister of Finance and the Public Service, Hon. Audley Shaw, has stated that taxes will not be raised in the 2010/2011 financial year, except for property tax, which the Government will have to examine. Mr. Shaw made this disclosure as he opened the debate on the second Supplementary Estimates of Expenditure in the House of Representatives on Wednesday (March 17)....

The Bank of Jamaica Act is to be amended, to accord the Central Bank legal authority to extend its financial stability function to include non-bank financial institutions, including credit unions and other financial intermediaries. Addressing the Mona School of Business Roundtable 2010, 'Managing Risk for Growth & Development', held recently at the Mona Visitors' Lodge and Conference Centre, University of...

Jamaicans living in the United Kingdom (UK) have welcomed the measures introduced by the Jamaican government to restructure the economy and ensure economic growth. Minister of Finance and the Public Service, Hon. Audley Shaw, who addressed a meeting of UK-based Jamaicans, in London, on May 12, said the government intended to return good governance to the country's economy. He said...

The Government tabled the Second Supplementary Estimates in the House of Representatives, Tuesday (March 16), topping up its 2009/10 expenditure by $31.5 billion to $593 billion, mainly to meet debt obligations. The net increases include $21.6 billion in Capital expenditure, nearly all of which goes to the Ministry of Finance and the Public Service for loan repayments, and $9.8 billion...

As the government continues to encourage a culture of tax compliance, persons with outstanding liabilities are being urged to make payment arrangements with the Inland Revenue Department (IRD). "We are aware of the difficult economic times.the approach is to come with your proposal, and an ability to pay statement will be done, and a legal agreement will be signed between...

Minister of Finance and the Public Service, the Hon Audley Shaw, says that the Jamaican Government has been bold and courageous in entering into a new arrangement with the International Monetary Fund (IMF). "We have had to make decisions, whether or not they are politically popular," Mr. Shaw told the audience at the Jamaica National Building Society's (JNBS) "Outlook for...

Governor of the Bank of Jamaica (BOJ), Mr. Brian Wynter, wants the University of the West Indies (UWI) to reclaim its historic role of constructive engagement in public policy changes. "The university can contribute to monetary and fiscal challenges, by being the hub for policy discourse that it was in the decade of the 1960s," Mr. Wynter said. He explained...

The World Bank says it can help CARICOM increase its resilience to climate change, with innovative financing and low carbon growth strategies that include a focus on reducing the cost and increasing the efficiency of energy in the region. World Bank Group President, Robert B. Zoellick The Bank's private sector arm, the International Finance Corporation (IFC), is exploring opportunities to...

Minister of Finance and the Public Service, Hon Audley Shaw, left Jamaica March 9 for London, where he will participate in the 2010 Jamaica-United Kingdom Investment Forum, March 10 to 12. Mr. Shaw is one of the main presenters and will address the forum on Jamaica's macroeconomic and investment climate. He is accompanied by Governor of the Bank of Jamaica...

Minister of Finance and the Public Service, Hon. Audley Shaw, has emphasised that modern technology must be applied in the delivery of quality public service, and in pursuing developmental goals. "The overall national policy of integrating information and communications technology (ICT) in the delivery of education is highly commendable. Not only is ICT a cost effective vehicle for the delivery...