Opposition Spokesman on Finance, Julian Robinson has declared that the People’s National Party (PNP) would not impose new taxes to fund its slate of initiatives, including the promised tax-free income of up to $3.5 million for Jamaicans, if it forms the Government after the September 3 General Election.

Speaking at the launch of the PNP’s ‘Manifesto Lite’ on Monday, Robinson sought to assure that the party is committed to fiscal responsibility.

He said the PNP will fund its initiatives by increasing economic growth beyond the projected one per cent.

“We (the PNP) will fund the commitments that have been made within the existing envelope of the budget, including the projections for growth, without any need to impose any new taxes or burdens on the Jamaican people,” Robinson indicated.

“In fact, we committed to removing the tax on overtime so that we could put more money in the pockets of those soldiers, policemen, security guards, people who work in our hospitality sector – again so that it eases the cost of living and gives them an opportunity to spend more on themselves and their families,” he added.

Noting the importance of adhering to the fiscal rules, Robinson said when the PNP returned to government in 2012, significant work had to be done to re-establish Jamaica’s credibility with its international partners.

Stemming from that work, the then PNP administration enhanced and strengthened the fiscal rules, as well as legislated “the debt-to-GDP projections so that we could get to 60 per cent by 2028,” according to Robinson.

“And the reason why I’m saying this it is important to understand that, whether it was a PNP, JLP or any P, it was a requirement for the government to follow the downward trajectory in our debt-to-GDP. So we were the ones who having enhanced, ensured, (and) took the country from the precipice, we are committed to continuing that responsibility,” he pledged.

Robinson, in returning to the funding of its election promises should it win the national polls, pointed to the current fiscal policy paper, which is a document that accompanies the budget and is tabled in March of this year.

He said the present government’s own projections in the document suggest that the country will have an increase in revenue of $140 billion over a three-year period.

“And that is based on their projection of a growth rate of just one per cent, but we intend to grow the economy by more than one per cent, but this $140 billion is their [the JLP-led government] projection,” Robinson said.

“The way a budget is structured, of the $1.3 trillion, there is an element for debt repayment, there is an element for wages and salaries, and then there is $360 billion which is allocated to programmes. Now our programmes and priorities are different from the JLP’s…, and as such, we are going to place the things that we consider to be critical to improving the quality of life of all Jamaicans at the forefront of our priorities,” he explained.

Assessing both the PNP’s promised raising of the income tax threshold to $3.5 million and the JLP’s proposed reduction of the income tax rate from 25 to 15 per cent, Robinson said the PNP’s proposal is more equitable, just, and impacts a broader cross-section of individuals.

“Why? Because it (the PNP’s plan to increase the income tax threshold) will put more money in the pockets of those who are earning less and, by doing so, those individuals have a higher propensity to consume, so some of those funds which will go into their pockets will be spent back into the economy, and the government will benefit through indirect taxes like GCT,” Robinson informed. `