With the island’s two main political parties promising improved income tax plans if they should win the upcoming general polls, one economist has theorized that Jamaicans will have to wait two years before reaping any of those benefits.

The ruling Jamaica Labour Party (JLP) outlined in its election manifesto that it plans to slash the income tax rate from 25 to 15% if given the chance to remain in power.

In the meantime, the opposition People’s National Party has promised to raise the income tax threshold to $3.5 million.

The party also plans to implement further increases as the economy continues to improve.

Reacting to the announcements, Economist Keenan Falconer said he does not anticipate that either plan will be implemented before the 2027/2028 fiscal year.

He said the parties will have to reprioritise expenditure in other areas to implement their plans.