{"id":194186,"date":"2024-01-19T14:52:12","date_gmt":"2024-01-19T18:52:12","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=194186"},"modified":"2024-01-19T14:52:12","modified_gmt":"2024-01-19T18:52:12","slug":"opposition-slams-ablp-administrations-draconian-fiscal-measures-in-budget-presentation","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/opposition-slams-ablp-administrations-draconian-fiscal-measures-in-budget-presentation\/","title":{"rendered":"Opposition Slams ABLP Administration’s Draconian Fiscal Measures in Budget Presentation"},"content":{"rendered":"
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Opposition Member of Parliament Richard Lewis has used the People’s Parliament to deliver a searing critique of the Antigua and Barbuda Labour Party (ABLP) Administration’s budget presentation, denouncing what he termed as draconian fiscal measures that could inflict untold hardships on the citizens of Antigua and Barbuda.<\/p>

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Lewis began by revisiting the ABLP’s unfulfilled promises of reduced taxes, expressing disappointment at the current administration’s apparent departure from these assurances. He highlighted a series of financial burdens imposed by the ABLP, including the UBT, a 50% increase in the environmental levy, and a windfall tax on key sectors.<\/p>\n

Despite acknowledging the Customs Department’s record-breaking revenue collection of $403 million in 2023, Lewis accused the government of lacking accountability for these funds. He questioned the necessity of additional revenue through proposed tax hikes, emphasizing the government’s failure to address discretionary tax waivers, which he argued could yield four times the expected revenue from the ABST increase.<\/p>

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While expressing support for wage and salary increases for public servants, Lewis raised alarms about the government’s financial health, referencing a Cabinet decision requiring statutory corporations to remit 50% of profits. He called for transparency in accounting for these funds, especially those allocated for Social Security and the Medical Benefits Scheme.<\/p>

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The speaker then delved into the specific fiscal measures outlined in the budget, expressing concern over the lack of clarity on implementing a 10% excise tax on alcohol, tobacco, and cannabis products. He condemned the 150% increase in the Money Transfer Levy, labeling it as “wickedness of the highest order,” and warned of its progressive rise to 10%.<\/p>\n

Lewis expressed deep reservations about the broadening of the ABST tax base and the increase in the ABST rate from 15% to 17%, particularly in the tourism sector. He demanded accountability from both the central government and statutory bodies, urging justification for the proposed tax hikes.<\/p>

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In a bid to offer alternative solutions to boost the economy, Lewis proposed reducing Corporate Income Tax to 15% to stimulate business establishment. He advocated for supporting local production by eliminating ABST on local produce and products and zero-rating ABST on the import of capital goods used in local manufacturing.<\/p>\n

Amid citizens grappling with the looming specter of increased living costs, Lewis implored the people of Antigua and Barbuda to demand transparency and accountability from their government. He concluded by asserting that the proposed fiscal measures, as outlined in the budget, do nothing to address income inequality, poverty, or hunger in the nation.<\/p>

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Opposition Member of Parliament Richard Lewis has used the People’s Parliament to deliver a searing critique of the Antigua and Barbuda Labour Party (ABLP) Administration’s budget presentation, denouncing what he termed as draconian fiscal measures that could inflict untold hardships on the citizens of Antigua and Barbuda. Lewis began by revisiting the ABLP’s unfulfilled promises […]<\/p>\n","protected":false},"author":3,"featured_media":194187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-194186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nOpposition Slams ABLP Administration's Draconian Fiscal Measures in Budget Presentation - 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\/opposition-slams-ablp-administrations-draconian-fiscal-measures-in-budget-presentation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Opposition Slams ABLP Administration's Draconian Fiscal Measures in Budget Presentation\" \/>\n<meta property=\"og:description\" content=\"Opposition Member of Parliament Richard Lewis has used the People’s Parliament to deliver a searing critique of the Antigua and Barbuda Labour Party (ABLP) Administration’s budget presentation, denouncing what he termed as draconian fiscal measures that could inflict untold hardships on the citizens of Antigua and Barbuda. 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