The Government intends to grant two Integrated Resort Development licences in the upcoming fiscal year, which will represent a combined investment of approximately US$1 billion. An integrated resort development must have a minimum of 1,000 hotel rooms, of which 500 must be luxury rooms. The development must have a minimum capital investment of US$500 million. Minister of Finance and the...

Jamaica is introducing a new $2,000 banknote on which late former Prime Ministers, the Most Hon. Edward Seaga, and the Most Hon. Michael Manley, will appear together. It is among a series of new/upgraded notes, which will go into circulation later this year. The notes will honour seven national heroes and four former prime ministers. Minister of Finance and the...

Work is being done to update the tax architecture, with “clear and coherent laws” capable of easy administration, says Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke. Opening the 2022/23 Budget Debate in the House of Representatives on March 8, the Minister said this is integral to investment decisions and to provide a predictable business environment....

The Government delivered direct and indirect support across two fiscal years (2020/21 and 2021/22), as a response to the COVID-19 pandemic, costing $40.6 billion and representing two per cent of gross domestic product (GDP). This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, as he opened the 2022/23 Budget Debate in the House...

The Government is making a special provision, in the amount of $2 billion, to provide targeted support to Jamaicans who are most adversely affected and have the least ability to absorb the impact of high gas and energy prices. Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, made the announcement as he opened the 2022/23 Budget Debate...

It will cost the Government more than $100 billion to restructure the system of public-sector compensation over the next three years. This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who said that approximately $17 billion of the sum relates to certain categories of allowances “that up until the current fiscal year, have...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, points to the new series of Jamaican banknotes as he opened the 2022/23 Budget Debate in the House of Representatives on Tuesday (March 8). In the newly designed banknotes, which will be available late this calendar year, The Most Hon. Michael Manley and The Most Hon. Edward Seaga,...

The Ministry of Education and Youth is providing $430 million for additional support to schools, following the full resumption of face-to-face classes on Monday, March 7. This was disclosed by Minister of Education and Youth, Hon. Fayval Williams, during the meeting of the Standing Finance Committee in the House of Representatives on March 3. The members are deliberating the 2022/23...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, said that the public-sector compensation restructuring exercise will better enable the Government to recruit and retain talented and experienced persons in the civil service. He was addressing Tuesday’s (March 1) meeting of the Standing Finance Committee of the House of Representatives, which is deliberating the 2022/23 Estimates of...