Bunting Commends Tax Cuts, But Expresses Concerns

Opposition Spokesman on Investment, Peter Bunting, says he has some concerns about the Government’s budgetary plans for this fiscal year.

Mr. Bunting is commending the Government’s move to raise the threshold for the filing of General Consumption Tax, GCT from $3-million to $10-million.

Finance Minister, Dr. Nigel Clarke, announced the decision yesterday when he opened the 2019/2020 budget debate. During his contribution to the sectoral debate last year, Mr. Bunting had recommended that the GCT filing threshold be raised to $36-million.

Speaking with our news center today, Mr. Bunting said the increase announced by the Government is a step in the right direction.

He’s also describing as positive other measures announced by Dr. Clarke, including the decision to abolish the minimum transfer tax and the asset tax for non-financial companies.

Meanwhile, Mr. Bunting says given the solid fiscal platform he has inherited, Dr. Clarke is perhaps the luckiest Finance Minister in Jamaica in recent memory.

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