KINGSTON, Jamaica – The recent announcements by Minister of Finance and the Public Service, Dr Nigel Clarke, as he opened the 2024/25 Budget Debate, has been well received by St Thomas residents, who are excited about the upcoming changes, starting April 1.

Dr Clarke’s presentation addressed several hot-button issues and their subsequent reform, which are expected to positively impact the lives and livelihoods of various groups of Jamaicans in the new financial year.

Among them is the increase in the threshold for duty-free items from US$50 to $100. This means that items imported under US$100 will no longer attract a customs duty fee, providing more flexibility to online shoppers in Jamaica, starting April 1.

READ: Spend more, pay less -Duty thresholds double

One such Jamaican is Brian Anderson, a 24-year-old Content Creator from Morant Bay, who specialises in videography and photography.

He generates content about the parish of St Thomas for his YouTube page, Eastside Media, which has an audience of nearly 8,500 subscribers.

Welcoming the increase, Anderson said, “We (content creators) will benefit more because we can ship in more items. Normally, when I am shipping equipment and it costs over US$50, I have to worry about customs, and the equipment we use is hard to source for below that price. With the increase, I can add more things to my cart and I can more comfortably pursue my passion.”

Expressing similar sentiments is 23-year-old Customer Service Representative, Imani Foster, who also says the increase will allow her and her relatives to purchase more things on their favourite online shopping platforms with more flexibility.

Another major announcement from Dr. Clarke’s presentation was the removal of the general consumption tax (GCT) on imported raw foods.

Peanut vendor, Felton Laing, a resident of Lyssons in the parish, stated “That is a good thing.

“Most of the better foods for your health are very expensive, and it is probably the tax on them that causes that. So if we get a thing like removing the tax, it would help us in many ways,” he noted.

For grade-three Teacher Carmeletia Thomas, the increase in the income-tax threshold from $1.5 million to $1.7 million was the standout item from Dr Clarke’s presentation, as it will benefit her and thousands of other working-class Jamaicans.

“I am grateful for this because we will see an increase in our take-home pay and it will benefit us in the long term,” Thomas explained.

The announcements did not end there. Starting in the new fiscal year, the Government will be making it easier for young Jamaicans to matriculate into tertiary studies by removing the need for guarantors in accessing loans from the Student Loan Bureau (SLB).

Happy Grove High School student, Ballin Bishop, who resides in St Thomas, said, “This will help me to fulfil my dream of higher education. Now it will be easier on me and my family to finance college or university, as the SLB process will be easier. So, this is a good move.”

The 2024/25 Budget Debate continues in the House of Representatives and is slated to end on March 26.

-JIS