BASSETERRE, St. Kitts – LEADER of the People’s Action Movement (PAM) Lindsay Grant has explained how one of his party’s major policy initiatives would “put money back into the pockets of ordinary people” and will not be a further burden to the state.
In Grant’s New Year’s address, he announced that bringing economic relief to the wider population would be a priority for a PAM government. He therefore pledged to remove all duties and consumption taxes from foodstuff imported into the Federation if his party forms the next government following the upcoming January 25 General Elections.
While questions abound regarding the feasibility of this policy initiative, Grant assured the nation that the policy is not only doable, but would bring much-needed relief to all via significantly reduced food prices.
“It is something that our economists and our persons in the business community looked at to determine whether it is viable and doable. And, each and every programme of the PAM party that we put to the people, we know that we can execute and deliver,” Grant said at an emergency press conference held yesterday (Jan. 14) at the Ocean Terrace Inn.
A PAM administration, in the words of Grant, would focus on running a “tighter ship”, clamping down on overruns on projects and following a serious policy of qualification for concessions. These two major measures are expected to yield an estimated surplus of EC $10-15 million per annum and would compensate for the expected EC $9.8 million revenue lost by removing duty from imported food.
“That alone is going to take care of about EC $10-15 million a year. As a matter of fact, the loss in revenue in this proposal is actually $9.8 million. So it is $9.8 million we will have to make up and we already know how we are going to do it without it being an added burden in terms of taxes on the people,” Grant said, emphasizing his party’s position of tighter fiscal policy.
PAM Shadow Minister of Finance and Economic Planning Hon. Shawn K. Richards supported his party leader, stating that this initiative would “provide a real stimulus” for the nation.
“The removal of these duties and consumption taxes will give ordinary people more control over their incomes and they will be given a hand up instead of a hand out; the benefit to the economy as a whole will be permanent and far reaching,” Richards said.
The party’s manifesto, which will include a focus on economic development, is scheduled to be launched and circulated sometime next week and details of its policy initiatives, including plans to stimulate the economy, will then be made public.
