WATCH: PNP demonstrates against rising costs; again calls for SCT cap on fuel
KINGSTON, Jamaica — As prices continue to surge, the Opposition is again calling on Government to reduce the taxes on fuel.
Senior members of the People’s National Party (PNP) along with bus loads of placard-bearing party supporters gathered at the National Heroes Park on Monday to demonstrate against rising costs of living before walking across the road to the Ministry of Finance where PNP President Mark Golding handed over a letter demanding the Government to cap the ad valorem special consumption tax (SCT) on fuel.
“We are showing solidarity with the people of Jamaica who are facing a wicked crisis, a very challenging time from the cost of living and in particular from the gas price that feeds into so many other prices in the economy,” Golding said.
Noting that world oil prices have rocketed to over US$100 per barrel, the PNP is proposing that the SCT on fuel be capped at US$67.50 per barrel, the projected average oil price in the Budget.
“The beauty of this particular solution is that because the Budget was cast on the assumption of world oil price of US$67.50 per barrel by capping the taxes derived from our oil at that price it will not affect adversely the fiscal accounts,” Golding said.
Noting that the PNP had made the same proposal during the Budget Debate earlier this year, Golding said the suggestion was “formalised” in the letter to Finance Minister Dr Nigel Clarke.
