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PNC/R pegs livable income at $150,000
Kaieteur News – The People’s National Congress/Reform (PNC/R) has posited that $150,000 is the livable income for the average Guyanese earner and the Party has stressed that anyone who earns less than that sum should not pay taxes.
Economic Advisor to the Opposition, Elson Low
This party recently outlined their development strategy with its ultimate objective being a “livable income for all.”
Currently, there is no standard or structured cost attached to goods and services in Guyana, and depending on where one lives, and the source of the item needed, there’s a vast difference in cost. To this end, the PNC/R at a press conference on Thursday provided some insight to justify its development strategy objective.
Economic Advisor of the party, Elson Low said that, “one of the first acts and an act of the government must be, we need a public survey so that we can understand the needs of Guyanese in different parts of the country.”
He said that, “a livable income would vary based on where you are in Guyana because the price levels vary based on where you are in Guyana.”
He went on to say that, “what we want to stress here and this is really what is vital is that Guyana is on a trajectory and has already grown to an extent in terms of revenue. That, that is an initial number, we are not looking at Guyanese as the country grows, the average Guyanese making $150,000. What we are saying is that for right now, we need to ensure that those who are making $150,000 or less are not paying taxes, and that benefits apply to those who are not making $150,000 to help to bring them up to that level.”
Low noted that a livable income cannot be a fixed number since one has to take the country’s growing economy and incoming revenue into consideration. “A livable income is not going to be a minimal number but rather a number that is reviewed regularly and that as the country grows is increased regularly.”
He said Guyana will receive billions of dollars as time progresses. “And so, we will continue to review the livable income that we’re looking at and continue to expand it as appropriate bearing in mind also that different household sizes may require different levels of support.”
He reiterated that the $150,000 figure will have to be dynamically adjusted “as we look at each individual and each household.”
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- Economic Advisor to the Opposition, Elson Low, objective, People’s National Congress/ Reform (PNC/R), Strategy
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