House resumes today
Tabling of the First Supplementary Estimates for the financial year 2016/17 is expected to highlight today’s first meeting of the House of Representatives following the Christmas break.
Finance Minister Audley Shaw had confirmed last week that he would be tabling the estimates, which are a follow-up to the Estimates of Expenditure he tabled last May and which included increases in the annual individual (personal) income tax threshold; the individual income tax rate for “high-income earners”; the special consumption tax on petrol and on fuel oil; and a new special consumption tax imposed on liquefied natural gas; the special consumption tax on cigarettes; and the departure tax.
Those measures were expected to raise a total of $1.278 billion for the financial year 2016/17, and would provide approximately $12.5 billion in tax relief to individuals through the increased personal income tax threshold. The measures focused on consumption taxes.
However, has rejected suggestions by the the government Opposition that the supplementary estimates could include new taxes.
No further details on today’s sitting were available up to press time last night, as the Cabinet was still meeting at Jamaica House. However, the Opposition is expected to raise a number of questions on recent issues during the sitting.