For a fourth consecutive fiscal year, Jamaicans will not be faced with any new taxes to finance the budget.
The announcement was made Tuesday by Finance and Public Service Minister Dr Nigel Clarke as he wrapped up his opening presentation in the 2021/22 Budget Debate in the House of Representatives.
The Estimates of Expenditure for the fiscal year which begins on April 1 totals $830.8 billion.
“I am pleased to begin my remarks by informing the people of Jamaica that there will be no new taxes,” said Clarke to sustained applause from government members.
“We are prioritising economic recovery which we want to achieve in the quickest possible time; increasing taxes at this time would run counter to that objective,” Clarke added.
The minister noted that this was the sixth consecutive fiscal year, on a net basis, the government has not increased taxes.
“Madam Speaker, this will be the fourth consecutive fiscal year where there will be absolutely no new taxes,” he stressed.