Gov’t Committed to Delivering for the People – Senator Aubyn Hill

The Government continues to manage the economy well and remains committed to delivering for the Jamaican people, says Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill.

“We’re at the stage in our development where Jamaicans are expecting the Government to deliver… .  The Government has delivered substantially,” he said, noting that the Appropriations Bill, 2024 “has a tremendous [number] of good benefits for every Jamaican, especially those who are the neediest”.

He was piloting the Appropriations Bill in the Upper House on Wednesday (March 27).

The legislation, which was approved, outlines how the Government will spend the $1.3 trillion allocated in the 2024/25 Estimates of Expenditure.

It authorises expenditure for the financial year 2024/25 and stipulates how the money will be allocated to the various services and purposes of the Government.

Noting that this is the seventh year that the Government is presenting a Budget without any new tax measures, Senator Hill said that “this is a Government that cares”.

Government Senator, Don Wehby, said the Budget is a testament to the Government’s commitment to fostering economic development, creating opportunities for all, and ensuring the well-being of Jamaicans.

“This Budget reflects a thoughtful balance between the need for fiscal responsibility and the imperative to invest in key sectors that will drive the nation forward. In terms of fiscal responsibility, under this Administration, we have seen significant improvement in the macroeconomic indicators, which show we are moving in the right direction as a country,” he said.

Some of these indicators include the $4.6-billion Net International Reserves (NIR), the US$352.4-million current account surplus, the 4.2 per cent unemployment rate, nine consecutive quarters of economic growth up to September 2023, and the country’s upgraded credit ratings by the global rating agencies.

“The Government has committed to the attainment of the revised debt-to-gross-domestic-product (GDP) target of 60 per cent by 2027/28. At the end of March 2024, the ratio will be 72 per cent… what it means is that we have the fiscal space to build more hospitals, build more police stations, spend more on education,” he noted.

Senator Wehby further highlighted some of the strategic initiatives that are being undertaken by the Government to create a caring economy for all.

These include increasing the minimum wage to $15,000 per week following a 44 per cent increase last year, providing more access to loans for tertiary education, removal of the guarantor requirement for the Student Loan Bureau (SLB) and providing grants to low-income applicants.

Senator Wehby cited the Tools for Trade Initiative, which will provide grants to young people to “level up” their skills at the HEART NSTA/Trust and loans to buy tools for their trade.

He further mentioned allocations made to the Social Pension Programme and New Social Housing Programme (NSHP), the setting up of a $20-billion unemployment insurance scheme, establishment of 14 homeless shelters across the island, as well as improving homeownership programmes for young people and low-income earners.

Additionally, the Government has provided $20 billion to develop the road network under the Shared Prosperity Through Accelerated Improvement to Our Road Network (SPARK); $11.5 billion for hospital projects; $1.9 billion to continue the construction of classrooms and sanitary facilities, electrical upgrading, installation of sewage treatment facilities and security fencing at numerous schools; and investing in building the Jamaica Constabulary Force’s capacity to serve and protect through new technology, infrastructure development, training, and resources.

Also, there is a $2.6-billion allocation for 100 new buses, a reduction in bus fares for commuters, a $10.4-billion allocation for the Programme of Advancement Through Health and Education (PATH) and providing the HOPE for Children Trust Fund for children from PATH households.

Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator the Hon. Matthew Samuda, said the Government is ensuring that the quality of life for Jamaicans is improving.

“This Government is doing the work. It is using the tax revenue in a circumspect manner, ensuring that… we fight the threats and are prepared for headwinds that do indeed come, such as inflation and drought, because we are building resilience. Indeed, we are ensuring that Jamaica is prosperous, productive and peaceful,” he said.

Other Senators that contributed to the debate were Dr. Dana Morris Dixon, Peter Bunting, Kavan Gayle, Dr. Floyd Morris, Damion Crawford, and Janice Allen.

The Bill was approved in the House of Representatives on March 26, following the closing of the Budget Debate.