{"id":13127,"date":"2018-03-05T20:19:06","date_gmt":"2018-03-06T00:19:06","guid":{"rendered":"http:\/\/antiguanewsroom.com\/?p=13127"},"modified":"2018-03-05T22:01:06","modified_gmt":"2018-03-06T02:01:06","slug":"pm-says-upps-election-promises-will-collapse-the-economy","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/pm-says-upps-election-promises-will-collapse-the-economy\/","title":{"rendered":"PM says UPP’s election promises will collapse the economy"},"content":{"rendered":"
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Antigua Barbuda Labour Party leader Gaston Browne says the promises outlined at the launch of the United Progressive\u00a0Party’s campaign last night will collapse the economy.<\/p>

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UPP leader Harold Lovell promised ABST reductions on items ranging from funeral expenses to eyeglasses and some electronics.<\/p>\n

He also promised to reduce corporate taxes in an effort “to ease the squeeze” for residents.<\/p>

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But speaking earlier today, Browne cautioned voters from buying into such a plan, saying it will have repercussions from the economy.<\/p>

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“When we cost\u00a0them, it will run in the region of about EC$ 150 million,” Browne said.<\/p>\n

He said given that the government is operating with a budget deficit, “to reduce revenue by 150 million dollars would literally be to collapse the economy.”<\/p>

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Browne, who is also finance minister, told reporters that if the economic policies outlined by the UPP are implemented, “they will destroy\u00a0jobs, the economy, and government finances.”<\/p>\n

He estimates reducing corporation tax by half will cost the government $40 million and the other cost of living measures is estimated to have a revenue impact of about $ 100 million.<\/p>

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The UPP leader also promised to reduce fuel prices at the pump, reduce the fuel variation charge on electricity and reduce vehicle licensing fees.<\/p>

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Browne said reducing the licensing\u00a0fees and fuel variation will “bankrupt” the Transport Board and the Antigua Public Utilities Authority.<\/p>\n

He called the promises “desperate and outlandish.”<\/p>\n

In the last few minutes, Financial Secretary Whitfield Harris and APUA General Manager Esworth Martin have\u00a0both released\u00a0 statements supporting the\u00a0prime\u00a0minister’s assertions.<\/p>\n

Click to read them below.<\/p>\n

memo-revenue impact of measures.docx 3<\/a> APUA’s Ability to Reduce Fuel Variation and to Cut Water Rates<\/a><\/p>\n

APUA’s Ability to Reduce Fuel Variation and to Cut Water Rates<\/a><\/p>\n

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Antigua Barbuda Labour Party leader Gaston Browne says the promises outlined at the launch of the United Progressive\u00a0Party’s campaign last night will collapse the economy. UPP leader Harold Lovell promised ABST reductions on items ranging from funeral expenses to eyeglasses and some electronics. He also promised to reduce corporate taxes in an effort “to ease […]<\/p>\n","protected":false},"author":3,"featured_media":12887,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-13127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"\nPM says UPP's election promises will collapse the economy - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/pm-says-upps-election-promises-will-collapse-the-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM says UPP's election promises will collapse the economy\" \/>\n<meta property=\"og:description\" content=\"Antigua Barbuda Labour Party leader Gaston Browne says the promises outlined at the launch of the United Progressive\u00a0Party’s campaign last night will collapse the economy. 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