Government presents tax-free budget

KINGSTON, Jamaica, CMC – The Jamaica government has presented a J$521 billion (One Jamaica dollar = US$0.01 cents) tax free budget to Parliament with Finance Minister Dr. Peter Phillips indicating that the aim of the Portia Simpson Miller administration is to collect outstanding taxes and remove some distortions such as zero-rated electricity charges. “You will note and no doubt the other members will note that this administration has presented a fully funded budget, there are no new taxes in this budget,” he told legislators on Thursday. “The expenditure budget is to be financed by revenue flows of J$407.2 billion, loan receipts of J$103.3 billion and by drawing down cash balances of J$10.4 billion.”