Georgetown: Vice President Dr. Bharrat Jagdeo has stated that the insurmountable tax breaks announced by His Excellency, Dr. Mohamed Irfaan Ali Monday is indicative of the Peoples’ Progressive Party /Civic Government’s commitment to Guyanese.
“If you look at the measures in the new budget and a combination of direct incentives and a reduction of taxes, the Guyanese public will benefit over $20Billion of relief,” said VP Dr. Jagdeo during a press conference at Arthur Chung Conference Centre.
“Although an emergency budget, we have substantively addressed most of the tax measures that we promised to deal with in the new Government,” the Vice President continued.
These promises were crafted in the manifesto during the run up to the 2020 elections. Now in office, the Vice President added that the Government is on a path to fulfill those promises.
“We do not take our promises lightly and therefore I am so pleased that we have been able to within a month of the new government, move to address a lot of these issues.”
While touting Government’s economic policy that is described as one that is coherent, the Vice President lambasted the economic policy of the former administration that led to extravagance.
According to the Vice President, “it was a policy based on consumption, collection of large amounts of taxes and consumption on the recurrent side of the budget […] Employment costs skyrocketed and other charges skyrocketed and these were not creating value for people.”
With the new tax measures, the Vice President cited his confidence that more disposable income will be available to Guyanese as cost of living will now be reduced.
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