FOR IMMEDIATE RELEASE
Friday, March 24th, 2017
GOVERNMENT’S BUDGET IS VISIONARY AND RESPONSIBLE – G2K
Kingston, Jamaica: Generation 2000 (G2K) the young professional affiliate of the Jamaica Labour Party has endorsed the Government’s 2017-2018 budget. The organization has labelled it as responsible and visionary given the fact that the Government kept its election promise by fully implementing the $1.5 million income tax threshold, generating opportunities for young persons, while as the same time protecting the poor and vulnerable.
“It is a breath of fresh air to see a government keep their promise of removing the unfair personal income tax burden from the shoulders of PAYE workers by fully implementing the $1.5 million income tax threshold. As a result, PAYE workers will see even more money on their pay slips this April, which they can manage better than any Government. What is even more commendable is that the shift towards indirect taxation was done in a manner that protects the most vulnerable in society, with a massive 47% increase in PATH benefits, while at the same time passing IMF reviews and gaining support of the PSOJ,” said G2K President, Stephen Edwards
Additionally, the 2017-2018 National Budget was filled with many incentives for the youth of Jamaica which include, but is not limited to:
- Reduction in student loan interest rate for Pay As You Study (PAYS) from 9% to 6%
- A reduction in Graduate student loan interest rate from 13% to 9.5%
- Reduction in student loan interest rates from 9% to 6% for studies in Agriculture, Engineering, ICT and Logistics, which are areas that there is great demand and align with the country’s growth strategy.
- National Service Enlistment Program that will see 1,000 young persons trained at the JDF in vocational and broader life skills
- Launch of Housing Opportunity Production and Employment (HOPE) programme
Edwards further stated, “the unprecedented attention given to Jamaica’s youth in the 2017-2018 budget is nothing short of visionary. Many of the allocations are investments in the human capital of Jamaica, through education, housing, apprenticeship programs and job opportunities. These are things that G2K has lobbied for since inception, simply because they form the core of a strong foundation for sustainable and long-term growth in Jamaica.”
Given the tremendous support that the National Budget has garnered from non-partisan groups and other well-thinking Jamaicans, Generation 2000 is confident that business and consumer confidence will remain high and that the country will continue on its accelerated growth trajectory.