JCC hopes debate later between leaders of country’s two major political parties will include highlights on growth strategies
As Jamaicans brace for a showdown between the leaders of the country’s two major political parties later this evening, one business organization is hoping that the debate will include, highlighting growth strategies.
Jamaica Labour Party (JLP) Leader Dr. Andrew Holness and People’s National Party (PNP) President Mark Golding are to face each other in the final of three debates at the Creative Production and Training Centre in Kingston.
The debate which is slated for 9 PM, will be broadcast live on radio and television, and will be streamed on websites and via social media.
President of the Jamaica Chamber of Commerce Phillip Ramson said business leaders are anticipating clear responses surrounding plans to accelerate the country’s growth.
Though many Jamaicans are excited about the parties’ tax relief promises, Mr. Ramson said focus should also be placed on measures which will grow the Gross Domestic Product (GDP) and strengthen the country’s competitiveness in key sectors.
Mr. Ramson also noted that business leaders are concerned about how the tax relief proposed by both parties will be implemented.
The JLP has promised to reduce income tax from 25 to 15 per cent if they win at the upcoming polls, while the PNP has pledged to raise the income tax threshold to 3.5 million dollars with further increases in the future.
Mr. Ramson has called on each party to clearly state which discretionary or capital spending will be reduced, cut, or deferred to fund their proposed income tax benefits.
He also wants details on which spending commitments will be prioritized in the first budget and which will be postponed to later years.
During the economy debate on Tuesday, the JLP’s Fayval Williams said the party’s 15 per cent tax plan would cost between 25 to 30 billion dollars.
However, the PNP’s Julian Robinson rejected that figure, claiming that the JLP’s tax plan would be a conservative estimate of 68 billion dollars.
Mr. Robinson noted that it would only cost the PNP 55 billion dollars to raise the income tax threshold to 3.5 million dollars.
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