• JIS News

    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 and developing an efficient and equitable tax system,” he said.
    Mr. Shaw was closing the 2010/2011 Budget Debate in the House of Representatives, on Wednesday (April 21).
    He said the government has put in place a policy of maintaining financial system stability, as well as increasing access to capital, and developing the capabilities of micro, small and medium-sized enterprises.
    “Despite what critics may try to say to the contrary, our mission at the Ministry of Finance and the Public Service is crystal clear. Our role is to help to provide the enabling environment to the economy, through ensuring low inflation, competitive interest rates, a stable exchange rate, an equitable tax system and reduction in expenditure,” he explained.
    Mr. Shaw noted that debt servicing has fallen to $240 billion or 47 per cent of the 2010/11 budget, down from 60 per cent in 2009/10.
    In the meantime, he said the government was undertaking a number of administrative and legislative reforms to establish a Fiscal Responsibility Framework (FRF), which will enshrine fiscal discipline in law.

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