Audley Shaw speaks at JCC luncheon
Finance Minster Audley Shaw (left) greets Jamaica Chamber of Commerce (JCC) vice president Warren McDonald (right) while JCC president Milton Samuda and JCC director Grace Burnett look on at a JCC luncheon forum at the Jamaica Pegasus Hotel yesterday. In his keynote address, Shaw noted that the economy is stable and currently showing signs of growth against the background of a global economic crisis and 13 consecutive quarters of decline in the domestic economy. He added that Government, with an excercise of fiscal discipline, has been able to put strong fundamentals in place for continued economic growth going forward. Among them, he said interest rates are at its lowest in the history of the central bank and Government’s move to lower stamp duties has initiated dynamism in the real estate marketplace with mortgagers dramatically lowering rates. Shaw said that Government will “continue to do things that are of incremental value”, while noting that Government’s estate tax reduction from four per cent to 1.5 per cent was gazetted last week by new Justice Minister Delroy Chuck. (Photo: Bryan Cummings)