January 18th, 2013
Minister of Finance, Dr Peter Phillips recently announced that there will be more tax measures coming for the Jamaican public. According to an article in The Gleaner, Phillips announced during a press conference that “the Government would be increasing its primary surplus from 6.3 per cent of gross domestic product (GDP) to 7.5 per cent next fiscal year.”
So, yet again we have more taxes to pay and no more money to receive. What will happen to the honest Jamaican taxpayer? Where will we get more money to pay more taxes?
Personally, I fully agree with Financial analyst, Ralston Hyman who states that “It is going to be extreme pain … If there is going to be wage restraint in an environment where the dollar is sliding and prices are rising, it means that the standard of living is going to fall and more people are going to slip into poverty.”
What is your opinion on the matter? Go ahead and have your say…