The Minister of Finance Roland Tuitt's forecasted windfall for 2013 is more like wishful thinking. This is setting up low and middle income earners at the beginning of the New Year for a big fall at year-end when the Minister can't deliver on his promise. Like one newspaper editorial said, don't hold your breath.
It makes no sense as a responsible Minister when you can't give a timeline for this windfall, and it boils down to political rhetoric.
The UP faction would welcome financial relief for persons who earn Naf. 5000 or less.
The best approach, and we reiterate, that going after the unregistered businesses will result in a more balanced revenue system for the Government as there will be more tax payer's, translating into more tax revenues for the country's treasury. This is more realistic rather than the Minister's windfall wishful thinking approach. This would translate into tax relief for the people where the wage tax could be lowered putting more money back into the hands of the workers and into the economy.
The Committee for Financial Supervision CFT has already dealt the Minister of Finance and the Government overall a blow with respect to giving a negative advice on the Minister's first budget under the new NA led coalition.
We can all recall back in 2010 when the NA led coalition left the country hanging with a Naf.100 million deficit that had to be cleared up by the UP led coalition. People have not forgotten! Yes, the UP had to increase the Turn over Tax (TOT) from three to five per cent, but it was a necessity as we took over the transition from Island Territory to Country status.
Our people understand that we needed to build new institutions from the ground up as a new country and this came with a cost. Today, the country is much better organized due to the initial investments that were made in order to be able to provide the basic necessary services demanded by our community, and to have the primary democratic institutions that govern us under the rule of law in place for the start-up and in moving our country forward.
United People's (UP) Party Interim Faction Leader