All set for Budget 2018.
DPI, Georgetown, Guyana, Monday, November 27, 2017.
Budget 2018 will be tabled in the National Assembly by Minister of Finance, Winston Jordan at 14:00 hours today.
This will be the fourth consecutive National Budget within just over 900 days of the government assuming office. In terms of quantity, this “Jordan Budget” is expected to top the double-billion level that former Finance Minister, Ashni Singh had set when he introduced what was then touted as “the biggest budget ever,” Prime Minister Moses Nagamootoo opined in his weekly column, ‘My Turn’ published in the Guyana Chronicle on Sunday, November 26.
In early October, Minister Jordan indicated that there will be no new taxes, neither will there be any increased tax rates.
Further Jordan said, “Anything in this budget is about cleaning up or providing an incentive or two as promised. We promised some sectors we will see how we can support them in this renewal,” Minister Jordan added.
The Finance Minister also promised that Budget 2018 will seek to create the conditions for small business growth. “All small businesses, all entrepreneurial activities that can increase the pool of household income, community income, and the national income are to be considered and encouraged,” he noted.
Residents along the East Bank of Berbice corridor could expect roadwork to begin early next year as Minister Jordan has indicated that monies will be allocated for this project in the 2018 budget.
“… We have to build the road. The road is going to cost between $1.3B and $1.5B but it’s not going to be the whole road, it’s going to be a significant part of the road,” Jordan said.
Since coming to government, the coalition has presented budgets in the sums of $221B -2015, $230B – 2016 and $250B – 2017.
Minimum wages have seen increase in excess of 50% in less than two years, reduction. There has also been reduction in income tax rates; increase in the income tax threshold, reduction in VAT from 16% to 14% and increased spending on public infrastructural projects, including roads, education and public security.
By: Kidackie Amsterdam