Coalition took back their salary increases through taxes, fines and penalties
-Robin Hood management
– Min. Bharrat
Minister of Natural Resources, Hon. Vickram Bharrat today reminded the National Assembly that Budget 2021 has no new taxes nor has it increased those charges or penalties.
The Minister said while the coalition opposition boast of giving salary increases, they fail to mention that every budget they presented placed new taxes on the backs of Guyanese.
“Every single budget they increased taxes, they increased fines, the increased penalties, cost of living increased tremendously over the last five years. So, it was like a thief in the night. You give it in one hand and you take from the other hands. It was the Robin Hood style of managing the economy,” the Minister stated.
“Our aim with budget 2021 and aim is to reduce cost of living. When you reduce cost of living our people will have more disposable income, they will have more money to invest, they will have more money to spend and that is our aim as a Government,” he added.
The PPP/C Administration, Minister Bharrat said, does not believe in the redistribution of wealth but rather in the creation of wealth. He said through budget 2021, incentives will be created to facilitate the creation of wealth.
Senior Minister in the Office of the President with responsibility for Finance, Hon. Dr. Ashni Singh since the reading of the budget stated monies are allocated for the increase in public servant salaries.
The two budgets presented by the PPP/C administration aimed at improving the quality of life for all Guyanese.
Budget 2021 provides for the increase in the ceiling for housing loans at the New Building Society from $12 million to $15 million, the removal of value-added tax on data for residential and individual use, and the five per cent reduction in water tariffs.
Additionally, the budget also proposes zero-rated status to various basic foodstuff and household items. Further, over 13,000 persons will benefit from the increase in public assistance from $9,000 to $12,000 per month.
Meanwhile, the 2020 Emergency Budget had seen the removal of VAT from water and electricity, increase in old age pension to $25,000, and the removal of corporate tax on private education and private healthcare. The VAT was also removed from all exports, hinterland travel, medical supplies, building and construction materials, certain machinery for forestry and mining, and mobile phones while the poultry industry was zero-rated.
The Minister of Finance has said that annually, the measures in both budgets would see over $50 billion of disposable income pumped back into the economy. The $383.1 billion budget was presented under the theme “A Path to Recovery, Economic Dynamism and Resilience.”