KINGSTON, Jamaica — Finance Minister Fayval Williams has warned that the proposals contained in the budget presentations of Opposition Leader Mark Golding and the Opposition Spokesman on Finance, Julian Robinson will rack up a $204 billion deficit.

This, she says, will result in FINSAC 2.0, a reference to the collapse of the financial sector in the mid-1990s under the then People’s National Party (PNP) Government.

As Williams closed the 2025/26 Budget Debate at Gordon House on Tuesday she also pointed to nearly $49 billion in what she termed “goodies” contained in the PNP’s proposal, compared to $9.2 billion offered up by the governing Jamaica Labour Party.

This, Williams said, is a testament to the Government’s commitment to fiscal discipline in an election year.

Among other things, Williams questioned whether the PNP would be able to give up revenue of $11.4 billion annually from the National Housing Trust or forego $3.2 billion of corporate income tax from the micro, small and medium-sized enterprise (MSME) sector for three years, or expand the rural transportation system to 50,000 students, up from the current 7,500 over three years.