The Government expects that property tax reform will be ready for implementation by the start of the financial year 2015/16. This is outlined in the Supplementary Memorandum of Economic and Fiscal Policies, submitted to the International Monetary Fund (IMF), which was tabled in the House of Representatives on March 25, by Minister of Finance and Planning, Dr. the Hon. Peter...

The House of Representatives on Tuesday, March 25, approved the withdrawal of US$6 million from the Capital Development Fund (CDF), to settle Jamaica Bauxite Mining Limited’s (JBM) alumina supply obligations to Glencore AG. Minister of Finance and Planning, Dr. the Hon. Peter Phillips explained that the funds will be used to pay the first and second installments of quarterly payments...

The Senate on Friday, March 21, passed the fiscal rule legislation, as the government moves to put a cap on what the country can spend. The fiscal rules seek to bolster transparency within the economy and ensure a sustainable budget. Their enactment means that Parliament will have a greater responsibility in the management of the country’s economic affairs. The Bills,...

The House of Representatives on Tuesday, March 18, passed the fiscal rule legislation, which is to be enacted by the end of this month. The fiscal rules will seek to bolster transparency within the economy and ensure a sustainable budget. It will also mean that Parliament will have a greater responsibility in the management of the country’s economic affairs. The...

As part of a strategy to re-build the coffee industry, Government Senator, Norman Grant, has called for the imposition of a cess on imported coffee. He suggested that this levy could be placed in a special fund to be used to expand the local coffee industry. Senator Grant, who is also President of the Jamaica Agricultural Society (JAS), made the...

The Port Authority of Jamaica and China Harbour Engineering Company Limited (CHEC) have arrived at an Initial Framework Agreement that provides the general terms and conditions under which discussions will continue regarding the proposed development of Portland Bight/Goat Island. Minister of Transport, Works and Housing, Dr. the Hon. Omar Davies, in a statement in the House of Representatives on Tuesday,...

Opposition Senator, Robert Montague, is recommending that the Government utilise the expertise of retired judges and lawyers to clear the backlog of cases in the courts. “They can firstly review some of the case files and close some and move swiftly to trial with the others,” he argued. Senator Montague, who was making his contribution to the State of the...