Gov’t open to considering proposal to increase tax threshold
During the press conference, the Premier was asked about Deputy Premier Lorna Smith’s comments on the matter. Smith reportedly expressed support towards reducing the tax threshold for some earners. She stated, “I understand what they are getting at, and I do agree. So if there is a way that we can do it so that it impacts persons who are at the higher end, we should do it.”
However, Premier Wheatley refrained from endorsing or rejecting that idea outright. He emphasised that he did not want to respond to specific proposals because he did not want to make policy ad hoc. He also alluded to the need for a thorough review and consultation before making decisions.
“Any policy proposal, I would hope to have the support of the Ministry of Finance, the soon-to-be-set-up Economic Advisory Council or to be reinstated, and conversations with the public about any policy proposals,” he said.
The Premier also denied that Smith was making policy ad hoc, explaining that she has been a long-standing civil servant and has his greatest respect. “Certainly, while she may comment on a particular issue and give a view, when it comes to implementing policy, I think she’s very responsible and goes through the proper channels,” the Premier said.
Meanwhile, the Premier highlighted the importance of considering the broader economic context and ensuring that the government can continue to provide essential public services. While underlining that these are challenging times, he argued that there are instances where higher earners may sometimes be required to contribute more taxes and low-income earners may need to receive some “government benefit.”
In the process, the Premier emphasized the need for a balanced approach. “We have to find as many ways as possible to shield persons or blunt the impact of the high inflation that we’re experiencing right now,” the Premier said. “But we also need to find ways to have revenue to deliver public services. So there’s always a balance that has to be struck.”
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THIS SPREEMIER IS ALL TALK AND NO ACTION
You mean all travel and no action!
Why now after the public suggested it? The public suggested this after the house of assembly made their decision to raise minimum wage. Why didn’t anyone in the house of assembly think about this before coming to their conclusion?
Only now after the damage is done, after people on the street suggested it. That’s so sad.
The leader of the opposition talked about this on the campaign trail but nothing yet
It is incorrect to say the HOA did not consider raising the threshold. The leader of the Opposition and other members of the Opposition suggested this as a consideration. Given that the Government has the majority in HOA, eventhough the Opposition has indicated that raising the minimum wage without simultaneously increasing the threshold along with other measures, orimplementing the latter if the attempt was really to bring relief to minimum wage workers, the increase would pass without the Oppositon’s endorsement.
we all wants to know if it’s going to make any difference
That would reduce the illegal income of those employers retaining their workers deductions NHI & NI not paying into the government system because they’re never being pursued by government for those payments.
there is no threshold for NHI and SSB
open to it
and saying you will do it
are two different things
but run your games boi
get those political points
Well you said it , and I have said also , that evil Vincent was watching expats work honestly for yhe money and he was scooping them like a chicken hawk to see what all they do with with their own money and plot with holy bandrew on how to double tax them using money gram as a front and even up to today the fmthose dirty minded employers are left untouched from not paying their fair share of TAXES to the same he is in , they are birds of the same feather
exempt the initial $20k
Increase taxes over $150k/year
Easy
IB he means you , local business need not worry you just ignore him anyway.
Just do it!!!!!!!!
New increase shouldn’t be for everyone. The additional saving should be lower income earners only. Those making less $24,000. Annually.
Dis m f mashup the country
I think it’s a bad idea at this time
Make this heck for everyone, not just low income people, kmt cost of living affecting everyone.
CHUPES I am so tired of this poppy show. His mouth just keeps uttering non viable statements and nothing to support the needs of the people.
The middle class does not get a break , eventually there will be no middle class. It should apply to the middle class and low earners as well. The high earners (100k +) should to be taxed at a higher percentage and not the same as middle and low class.
What about also considering a better tax system for person who make more than $50K. These person should pay more percentage not the same 10% as the low income. 10% of low income is alot for us. However 10% of $10K or $12K is nothing compare to the overall amount.