Budget 2017...“Worst Budget ever!!” – Opposition Leader

Budget 2017…“Worst Budget ever!!” – Opposition Leader

Nov 29, 2016 News

… ‘Immensely ominous for the future’
Bharrat Jagdeo, former president and Leader of the Parliamentary Opposition – the People’s Progressive Party/Civic (PPP/C) – has labelled the $250B National Budget presented yesterday as the worst he has seen in

Leader of the Opposition, Bharrat Jagdeo (Centre) and Members of Parliament, Irfaan Ali (Left) and Juan Edghill during the press conference yesterday.

Guyana’s history.
The Politician made this assertion during a press conference that was facilitated by his party, mere minutes after the Minister of Finance, Winston Jordan, made his presentation to the National Assembly.
Jagdeo said also that the proposed tax measures outlined in the Minister’s presentation will no doubt wreak havoc on the citizenry.
He told media operatives that the proposed measures outlined were ‘un-resourceful’. He added that by the time the Minister’s presentation was concluded, his reaction had changed where he found that it was ‘immensely ominous for the future’ of the State.
The Opposition Leader added that these measures were also not fully thought out and warned that they will destroy any possibility for the recovery of the economy.
Jagdeo quizzed what was there for the people, since it was revealed that Guyana’s Gross Domestic Product (GDP) was a dismal 2.6 percent.
He also pointed to the imposition of a 14 percent Value Added Tax (VAT) on water and electricity consumption, increase in liquor licences fees, and an increase in cost to transfer vehicles amongst other proposed tax measures.
“The tax measures are so numerous that it will wreak havoc. Imagine a logger is at home now thinking what he will do next. These tax measures will kill the Private Sector. At one point I was taking notes and I stopped. It is unbelievable. I did not expect this,” Jagdeo lamented.
The Opposition Leader stated that the “increased” taxation can be linked to the ‘fact’ that Government has no strategy to generate revenue and that they are dependent on milking the pockets of average Guyanese in an already depressed economy.
He accused the Finance Minister of meandering from one cliché to another; rehashing old projects and reiterating what the President has been saying. He accused the Minister of including his Party’s plans in his presentation.
Jagdeo said that the measures outlined in the 2017 Budget will not be immediately felt and added that Guyana is heading towards a precipice where there might be no return.
He said that his party will be examining the presentation carefully and will pronounce on it in detail shortly.
Jagdeo was accompanied by Members of Parliament and former Ministers under the People’s Progressive Party/Civic (PPP/C) Administration, Irfaan Ali and Juan Edghill.

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