First Look

G2K labels government’s approach to taxation as madness

G2K | 2013-02-14 00:00:00

Generation 2000 (G2K), the young professional affiliate of the Jamaica Labour Party (JLP),  today expressed its disappointment in the tax package which was unveiled by the Government and the approach that was taken in formulating same.

“It feels like we have returned to the days of our colonial past where there is no need for consultation or effective representation in regards to taxation. The Minister of Finance, after the debacle in May 2012 with the introduction of taxes in the tourism sector, had promised to undertake consultations before the imposition of any new taxes” said Floyd Green, president of the organisation.

The organization notes that despite the imposition of a 23 billion dollar tax package in May 2012, the Government revenues still lag behind by 14 billion dollars, and tax revenue collection is significantly below target. The organisation is also concerned that young professionals will become disenfranchised as their dreams of homeownership will highly unattainable given the increase in stamp duty and transfer tax.

 Mr. Green also stated that, “One would have expected the Minister to use the time in Parliament to outline a clear collection strategy for taxes, including elimination of the burdensome bureaucracy. Instead, the Minister has taken the proverbial Big Bang approach instead of comprehensive tax reform and clearly now is a living testimony of Einstein’s definition of madness”

G2K notes the Government’s continuous disregard for the calls to cut the size of the cabinet; its refusal to establish a transparent system of hiring consultants and its continued insincere approach to the sharing of information, is quickly removing their moral authority. 

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