PNP welcomes GCT reduction
KINGSTON, Jamaica— The People’s National Party (PNP) says it welcomes Government’s decision to reduce the rate of General Consumption Tax (GCT).
Minister of Finance Dr Nigel Clarke announced earlier that the GCT rate will be reduced by 1.5 per cent.
“We are pleased that the Government, by way of the finance minister, has accepted a proposal by Dr Peter Phillips that lowering the GCT rate would ease the burden on Jamaican consumers,” PNP General Secretary Julian Robinson said in a statement.
Robinson said, however, that the party is concerned that the reduction has fallen short of Dr Phillips’ proposed two per cent.
He said the reduction, though not enough, forms the basis for further adjustment needed to cushion the effects of the harsh economic realities over the past three years.
