The Jamaica Labour Party (JLP) has committed to a “deliberate, phased move toward a long-term base rate of personal income tax of 15%,” if it should win the General Elections slated for September 3.

The promise was made in the JLP manifesto — “I Choose Jamaica, The Next Chapter.”

In the document, which was released at a JLP mass Rally in St. James yesterday, the Party said the 15% reduction will ensure that all contributors to national development are treated fairly.

The JLP also said it will reward effort and enterprise by broadening the tax net, so the responsibility of funding public services is more evenly shared while maintaining economic stability.

The JLP has also committed to reducing and ultimately eliminating the asset tax requirement for regulated financial institutions as fiscal space allows.