The Private Sector Organisation of Jamaica (PSOJ) has called on the country’s two main political parties to provide detailed implementation plans for their proposed income tax relief and fiscal priorities.

In a statement, the PSOJ welcomed elements in the manifestos presented by both the Jamaica Labour Party (JLP) and the People’s National Party (PNP).

It said, if executed well, the initiatives would strengthen Jamaica’s investment climate and competitiveness.

From the Jamaica Labour Party, the PSOJ noted the continued emphasis on macro-stability, alongside concrete business-facilitation measures.

From the People’s National Party, the PSOJ welcomed the focus on industrial transformation and innovation, dubbed the Jamaica 4.0 Agenda.

The PSOJ said this agenda could expand productive capacity and support higher-value jobs, if paired with strong execution and public-private collaboration.

The PSOJ also noted that the income tax relief advanced on the campaign trail by both parties requires careful, transparent analysis before adoption.

The PNP has proposed raising the personal income tax threshold to $3.5 million up from $1.7 million.

Meanwhile, the JLP is campaigning on a phased move to a 15% personal income tax base rate, down from the current rate of 25%.

The PSOJ has requested full modelling of expected revenues, growth assumptions and timing.

The PSOJ said to preserve Jamaica’s hard-won macro-stability, both parties should publish detailed implementation plans.