Georgetown: The 2018 National Budget is a “good-natured budget” that benefits the ordinary man and woman, Minister of Business, Dominic Gaskin, said as budget debates began today in the National Assembly.
Minister Gaskin stressed that the measures in the 2018 budget “are all clear commitments to the man in the street, the woman in the street who are looking to enjoy their share in the good life.”
The Minister explained that the personal income tax measures allow persons who are laid off and unable to find a job, to recover taxes they paid from the previous year. Budget 2018 proposes that the minimum personal allowance of $720,000 be given in full regardless of whether a person works for the entire year or a part of the year.
“This measure speaks to the ordinary man, woman, worker and lets them know our government is fair and considerate and wants the best for them,” Minister Gaskin noted.
Additionally, the removal of Value Added Tax (VAT) on low-cost housing units below $6.5M is a measure targetted to young people and ordinary working persons to ensure they can become homeowners, Minister Gaskin pointed out.
Other measures such as concessions to employers who provide day care services and amnesty to all delinquent tax payers are all indications that budget 2018 is “a people focused budget.”
Minister Gaskin noted these measures clearly disproves the claim by Opposition Member of Parliament Ifraan Ali that there is “nothing in budget 2018 is there for the ordinary man”. Minister Gaskin and MP Ali opened budget debates.
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