IMF’s economic programme on Cabinet’s agenda today
KINGSTON, Jamaica – Members of the Andrew Holness-led Jamaica Labour Party (JLP) Administration are today expected to focus on the economic programme under the International Monetary Fund, during the final day of their Cabinet retreat.
In a news release Friday, the Cabinet said they will also discuss the growth agenda, the 1.5-million tax relief plan, and the 2016/2017 national budget.
Minister of Finance Audley Shaw disclosed earlier this week that funds that should have been set aside from the existing gas tax was used up in the consolidated funds by the previous People’s National Party (PNP) administration.
The JLP, in making its election promise to remove income tax for individuals earning up to $1.5 million annually, planned on using an estimated $9.5 billion from the gas tax to assist in funding the expected $12.5 billion that the tax plan would cost the country.
A formal Cabinet meeting will follow these discussions, which will, among other matters, sign off on critical policy issues and the appointment of key boards.