Today Dr. the Honourable Nigel Clarke, Minister of Finance and the Public Service delivered his opening Budget Presentation for the 2022/23 financial year.
In an animated speech, Minister Clarke outlined how the Government of Jamaica (GOJ) plans to fund the 2022/23 National Expenditure Budget of JMD 912.0 billion, which was previously tabled in Parliament last month.
Overall revenues are estimated at JMD 906.4 billion leaving a JMD 5.6 billion gap which the Government proposes to fund by utilising prior year cash balances. In light of this, Minister Clarke gleefully announced “No New Taxes” indicating that this is the fifth consecutive year where no new taxes are being levied and the seventh consecutive year when viewed on a net basis.
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