No new taxes in upcoming budget — Premier
Premier Dr D Orlando Smith
Premier and Minister of Finance Dr D Orlando Smith said no new taxes will be included in the 2018/2019 fiscal budget.
The Premier will be making his budget address in the House of Assembly this morning, March 19.
He said this year’s budget will focus on support for local law enforcement to help tackle the recent upsurge in serious crime.
Ahead of another potentially rough hurricane season, Dr Smith said the budget will also address support to the Department of Disaster Management, otherwise known as DDM.
While speaking today on ZBVI radio’s morning news programme, the Premier said the reading of the budget will also address infrastructure, among other things.
“We are looking at repairs to schools, clinics, and particular repairs to our roads and sewerage throughout all the territory; particularly in the East End/Long Look area and in the Cane Garden Bay area,” the Premier said.
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I have come to the point where I believe nothing that this man says.
Is this the same man that assured us that BVI Airways will fly from two years ago? Well if they are flying then believe him now.
This government needs to be fully investigated. Too much of our tax money are unaccounted for under this gang.
No matter who is in power we hear this nonsense.
All this guy seems to be doing is abusing the word borrow or lend or loan and making promises wa he know aint he aint going bring to pass….fool we once but not twice or forever mehn when yall get the money wa ayo borrowing ayo aint doing jackkkkk with it but divide it between yall selves hmm smh….how much it cost to concrete the road from college go back 2 east end i sure not much da dust is killing ppl…..when some of these ministers start going to jail they will learnģ the UK need to start investigating these guys like seriously they making fun of this whole thing when is people life and tax money they playing with dont worry JAH dont sleep every rope have it end!!!!!
And when the same borrowed money start to spend, everyone will go to the polls smiling and re-elect them.
Well..they did actually fool ppl not once..but twice…cause they were voted into office AGAIN..when they obviously were c——-d. Its an unfortunate situation.
doc sounds like george h w bush when he says that, the only thing he didn’t add was read my lips
You have me passing out. LOL. So true.
Each budget is the same nonsense….only this time it’s vital somebody has to get a grip on getting the country back on it’s feet again, businesses have left the Island and won’t be returning soon – big deal you aren’t going to add to the tax burden ! It would be suicide if you did, where did you get your economics degree from? Disneyland? You should be cutting taxes in the medium turn to incentivise businesses recovering, returning and growing providing more local employment that will then increase tax revenue!!!
LMAO!!! You all watch too much f*&^*&g TV. Cut taxes? What taxes? We pay payroll tax, SS, measly property tax and NHI, that’s it! We don’t pay corporate taxes and the percentage payable on the other taxes/duties are low compared to anywhere else. You want government lower taxes and not layoff locals? Where did YOU get your economics degree from?
He will tax after election.old tricks,played out.
Mark east end road need fix it is not good for bvi to long now after 6 month shame on ndp.
It’s been a mess for a long time…luckily after Irmaria Ridge road saved us… now it is getting destroyed fast… soon only bad roads west !
This is welcome news for the long suffering and struggling residents in the wake of the hurricane disasters. Most of government revenue comes from taxes and fees so it was surprising given the need for more revenue for the recovery effort that taxes would not have been increased, if only nominally. And additionally most government revenue comes from financial services (approx 60%) and tourism. Both of these industries were impacted by hurricanes Irma and Maria. The overall estimated cost for the recovery from damages is approx $3.6B.
Moreover, no doubt, money for the recovery effort will have to be borrowed. The payback may take a decade or more to pay back. The source(s) for the principal+interest will have to come from taxes and fees. Residents should anticipate taxes and fees increasing in the coming year(s) to pay for the recovery cost. The BVI is a small, resource-poor territory; its economy is service-based. It lacks oil, diamonds, valuable/strategic minerals……..etc to generate revenue from. It will have to rely on limited trusts, taxes, fees, loans…….etc to cover the recovery cost.
Further, the disaster affected Caribbean region needs a Marshal-plan like bail out plan similar to what was done for Western Europe after WWII; US contributed over $13B for the bail out effort. Regional leaders need to come together and initiate action advocating for a regional Marshal Plan. There is strength in numbers.