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Lowering the Corporation Tax and Interest Rates may help in creating jobs

Jul 06, 2021 Letters

Dear Editor

According to Wikipedia, Guyana has a labour force of some 325,000 in 2019 with 160,000 (49.2%) people employed and some 40,000 (12.2%) people classed as unemployed (people who are actually looking for work but cannot find work).
The real scenario is that about 165,000 (over 50%) of Guyanese in Guyana are not working. Hence, the high poverty rate at some 35%.
How goes the job creation plan? In particular, where is the 50,000 jobs promised by Irfaan Ali during his election campaign?
Now that the dust has settled and the PPP/C is in Government having won the 2020 General and Regional Elections the expectation is that they will deliver on their promises.
We need a workable job creation plan not rhetoric.
Lowering Income Tax could attract people who are not working into employment. But there has to be jobs available not just in Georgetown but nationally.
Lowering the Corporation Tax and Interest Rates may help in creating jobs as companies will have more money (or, they can access capital cheaper) to expand their operations.

Yours Faithfully
Sean Ori

 

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