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www.jamaica-gleaner.com• gleanerjamaica • jamaicagleaner •
FEATURE
THE GLEANER, THURSDAY, MARCH 2, 2017
E4
cember 23, 2016, 1,133 apprentices have
At De
engaged under the National Apprenticeship
been
ramme, compared to the projected (636),
Prog
eeding the target by 497 (56%). This also
exc
sents 73.5% of the annual target of 1,542,
repre
dication that we are on track to achieve our
an in
annual enrolment target.
Economic growth must mean jobs for our people. While we will seek investments
that match the available skill sets, we are committed to improving the skills of Jamaicans
to attract high value investments to sustain long-term economic growth. Among other human
resource development plans, we are particularly excited about our compulsory education
and skills policy. All our young people who are not in a job or currently in
school will have the opportunity to develop their
knowledge, skills, and attitude through a national apprenticeship programme and a National
Service Programme, where they earn stipend and gain work experience and certification.
duced to one per cent. For the very first time, minimum
ge earners are now capable of owning their own home.
re
wa
We will reform the NHT, the Housing Agency and the Mortgage Bank
to expand affordable housing construction and reduce interest rates
on mortgages. We will create a special intergenerational 50- to
60-year mortgage which will make home ownership and payments
easier. It is the Jamaican dream to own a home, whether you are a
household helper or a young professional, and we will help you
make that dream come true.
ANDREW HOLNESS’
REPORT CARD ...
We will immediately restore the benefits at the
Junior Stock Market to grow equity financing for the
expansion of small to medium size businesses, as
they form the stable base for job creation.
eks to continue the incentives provided under the Junior Stock Exchange.
se
10-year period tax break (no corporate tax paid for the first five years and
•
Apart from divestment of loss-making government entities to which we are
already committed, we will list on the Jamaica Stock Exchange several
state-owned enterprises such as the UDC and Factories Corporation. They
all have significant asset bases which can be properly packaged and placed
on the stock market with realistic investment plans which would unleash
the economic and job creation potential latent in these assets.
Work in Progress.
We will revitalise and rebuild our town centres and cities. There is so much value lying idle in our real
estate in blighted urban areas. However, government has to lead the way with a clear, vision, policy and
commitment to partnering with the private sector to get this done. We will start with the redevelopment
of the Kingston waterfront and market district. And as another example of our coordinated thinking, this
will be partly funded by the listing of the UDC on the stock market.
iling rate is paid in the next five years).
0 per cent of the preva
• 251,700 P.A.Y.E. workers benefited
from phase 1 of the TAX BREAK.
• Transfer taxes, stamp duties and estate
taxes will be reduced as the economy grows.
5
We are committed in principle and practice to real reform of the tax system. This
means leaving you with more of your income to save or invest. This means lower
taxes and a business friendly tax system. We will again reduce transfer taxes,
stamp duties, estate taxes, as our economy grows. To help our economy grow
and help you take care of your families, we will get rid of personal income tax
for everyone who earns a gross salary of JA$1.5m or less.
of the Junior Stock Market were restored April 1, 2016. In October
e of Representatives passed the Income Tax Amendment Act which
benefits
The
the Hous
2016
We will reform government and establish a Ministry of
Economic Growth and Job Creation. This ministry will
ensure that investments are rapidly facilitated to avoid
government obstacles. The Ministry of Economic Growth
and Job Creation was established.
The newly created ministry is charged with drafting the blueprint
to drive economic growth and sustainable development.
Portfolio areas of the ministry cover water, housing, works,
land, environment, climate change and investment.
National Housing Trust contributors saw interest rate
Jamaica's water infrastructure is inadequate,
we will fix it. We will make strategic capital
investments in water. There are still too many house-
holds and farms without reliable water supply. The
investment in water will reduce the impact of drought
on the economy, but it will also boost agriculture and
housing construction. This is an example of synergy
in our economic growth plan.
We continue to upgrade our water facilities. Since taking office several
water infrastructure works have been completed. These include:
• Portmore Sewerage Reconfiguration
• Major Infrastructure Development Programme (MIDP)
– Marcus Garvey Drive Sewerage Pipeline Replacement
• Papine (UTech) – Mona Sewerage Project; Phase 1
• Sewage & Septage Collection and Treatment Plan
Spanish Town - Master Plan
• Goldmine Water Supply
• Hyde Road to Campbell Pipeline Replacement
Additionally, the Water Sector Policy was submitted to Cabinet for
approval as a white paper in late 2016. This policy sets new service
targets and outlines improved arrangements for service delivery.
e to seek investment opportunities
cally and internationally.
Council of Investment
Ambassadors was established.
hey are tasked with stimulating
economic opportunities for
Jamaica overseas.
continu
We
lo
T
We will create a special council of investment ambassadors who will be tasked to specially
seek out large investors from all over the world and bring them to Jamaica. Jamaica must
improve its international profile as an investment destination and not merely as an emerging
market to lend money. We will complete the work we started to develop Jamaica as an
international business centre. All our foreign missions will be tasked with economic
diplomacy as the main objective. Our foreign policy must support our economic priorities.