Opposition Spokesperson on Finance Mark Golding in his contribution to the budget debate in parliament today asserted that the previous PNP government raised the income tax threshold without imposing a tax package to Finance it.
LBC NEWS did some fact checking on that claim and found that Mark Golding lied.
In an article in 2012 on the Jamaica Information Service (JIS) Minister of Finance and Planning, Dr. the Hon. Peter Phillips, levelled a Tax Package of $19.4 billion for June 2012 to March 2013.
Dr. Phillips said then that without increased taxes, the government would have to borrow more, resulting in an increase in the debt stock, in addition to putting pressure on domestic interest rates.
“Therefore…we have designed the tax package in such a way that every sector in the population is being asked to make a contribution to help solve this critical problem. The bulk of the contribution is expected to come from those who can afford to pay. The reduction of the standard GCT (General Consumption Tax) rate to 16.5 per cent should have resulted in a reduction in the prices on the vast majority of goods,” he argued.
That was just one of the many Tax Packages levelled on the backs of the Jamaican people. In 2012 it was 19.4 billion, in 2013 it was 15.9 Billion,in 2014 it was 6.7 Billion and in 2015 it was 10 Billion.
For that lie, LBC NEWS give Mark Golding Four Pinnochios.