The leader of the main opposition party here is defending measures he announced over the weekend to cut the cost of living under a United Progressive Party government.
Harold Lovell says not only will his policies work but its what the Eastern Caribbean Central Bank is recommending.
Prime Minister Gaston Browne has pounced on the series of tax incentives, saying they will collapse the economy.
But in a statement, the UPP leader said Prime Browne compelled three public servants to attempt to disparage them.
Among measures proposed by Lovell is to cut corporate taxes in half.
He said Timothy Antoine, Governor of the ECCB, only last week, agreed that regional governments should consider lowering corporate tax rates in order to be more competitive, to attract investments, and create job opportunities.
This is what Antoine told reporters.
“By reducing the corporate tax rate, we will be able to market Antigua & Barbuda as the domicile for large multinational corporations (MNC) that are in search of a low-tax home base,” Lovell says.
“The Republic of Ireland did this effectively, and we intend to replicate that success story.”
Lovell, a former finance minister argues that these MNCs generate billions of dollars in profit each year, “so even if we attract only two or three entities, and their combined pre-tax profit amounts to US$1 billion, our proposed tax rate of 12.5% would generate revenues of US$125 million or EC$337.5 million.”
“This is far in excess of the reduction in taxes that would be paid by domestic companies and the reduced ABST collected from local consumers” he adds.
The UPP says it gave careful consideration to the “positive impact” of such relief measures on the population and “how we will mitigate any negative effect on the business sector.”
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The easiest thing to be is a critic. Mr Lovell you were finance minster for 5 years and 3 months why did you not do all these wonderful things hmmm. Only now you in opposition you have all these great ideas hmmmm….claiming they will work you think we foolie.
UPP planning to run Antigua with HOPES and dreams…If UPP win I see Antigua back in the hands of IMF…I see them failing much worse than the previous 10 years they had especially with the team they have…
Is that what you see. Then I suggest you get glasses. The UPP will reduce the taxes on eye glasses. Oh, I forgot, Gaston, huffed that UPP initiative.
Oh, by the way, did Gaston ask the Heads to give him an analysis of the money lost because of the electricity write off? Just asking!
What about the tax free concessions for life given to YIDA and Paradise Lost? I guess Gaston is selective. I guess I CAN’T EXPECT ANY BETTER.
Yawns….The reality is Barbz The UPP gonna make a mess of things if ever given the chance to run Antigua again and when things going down hill people like u Barbz will be in ur cave hiding like saddam and Bin laden….They will never get the chance to fool us again sorry 😉
D Boy, your answer is interesting. Always remember, what you wish for others will befall
A write off is done in one instance, lovell is proposing a permanent reduction, be fair in your analysis.
Fact and figures:
Abtb revenue 2017 – $30M
Revenue after reduction – $15M
Annual loan payments – $12M
Explain how you gonna pay 230 employees with $3M ($1K per employee)
Not to mention:
Maintaining gov vehicles
Road signage
School bus system
General expenses
You proposing more social programs which sounds good but how are we going to afford them if you cutting revenues. STOP MAKING PROMISES WITHOUT THE RELEVANT INFORMATION.
In case you wondering about the loans, ask them why the new ABTB headquarters which was suppose to cost $8M ended up costing $60M. How do you understimate or overrun cost by that much?
CHECK FOR YOURSELF!
The ABLP had been in power for nearly four years. Why didn’t they do those things to help bring down the cost of living. I guess Gaston and the ABLP were too busy enriching themselves and bailing out friends to thing about the ordinary man and woman.
Harold Lovell looking very “Prime Ministerial” in that photo. He is ready to govern. Ready to deliver H.O.P.E.
The same Harold Lovell who was Natalia Quardd lawyer in the Half Moon Bay story who encourage her to sue the government and then when he was finance minster refuse to pay her. The same Harold Lovell who gave Butch Stewart 60% of the ABST his hotel collected. The same Harold Lovell how did the biggest blasphamey in Antigua and took us to the IMF and the list goes on…what a hopefully PM
The same Gaston Browne who signed YIDA without reading it. The same Gaston Browne who sold us out- the same Gaston Browne, a black man, who wants to create apartheid in Antigua , by having a state within a state complete with buffer zone to keep out black Antiguans. This is what Gaston Browne wants for you. This is what you want. Shame on you!!!!!!!! If that is the value you place on yourself, that is your problem
By the way, what is the latest with the gun factory?
You sound like a conspiracy theorist. Apartheid? Look it up please.
I will go further- I invite you read the YIDA Act.
Please just leave this Barbra Maria Gomez person alone. She is out of touch with reality all she seems to be going off on is 500 house and YIDA. She is one of the biggest hypocrites I have ever come across
Write all you want. Red Kool Aid Drinkers from the Red Shut Gang.
Upp running the Red Devils out of Town.
We taking the Country out of the hands of the Wicked Labor Party Government. Lovell we want. Lovell a go Win everybody must Nyam.
*you
Hello Anne, I have shown the flaws in the ABLP speaking points that you use and now you are upset. The ABLP experiment has been a disaster. That is why Gaston has to steal the UPP proposals because he has none. Poor ABLP. They FLAP
Oh please I’m going going to waste time arguing with a hyproctite like you. You are hosting about how you expose the ABLP good for you but the fact still remains what did the UPP do to get the people of Antigua and Barbuda pissed off the vote them out in 2014 14-3 hmmmm. Of course you won’t answer all you will do is repeat you usual verse 500 houses and YIDA.
LOL. You just love to have your arguments thrown in the dust, don’t you? You are embarrassed by your leader who promised 500 houses in 500 days. Why was he NOT able to reach his goal? Was it because he lied? Was it because he just full of bluff. But it was a colossal failure- not my words but Peter Wickham’s words. Peter Wickham is being paid by the ABLP. Gaston has not been able to complete one project in his 4 years.
He boasted about YIDA-another failure. These were his main projects.
Getting annoyed is a way to shield your shame. Poor you. Do you suffer from EMBARRESSMENT. Don’t get angry with me because Gaston is a failure. HE FLAP
Well well well don’t know why people even bother to reply to some of these post. I said it yesterday and I’ll keep saying it these UPP supporters have anmeisa they don’t remember the shit their party do. They acting like 2004-2014 never happen. Just sitting waiting till the 21 of March and then do what I got to do.
You don’t need to defend anything BECAUSE awe a continue to COG from YOU!!! THAT’S HOW GOOD YOU ARE & YOU ARE AHEAD OF THE CLASS, I KNOW THAT YOU WENT TO UNIVERSITY IN THE UK & WAS IN CLASS WITH A FAMILY MEMBER WHO CAN ATTESTS TO SUCH CAN YOU PLEASE HELP US OUT & TELL WHAT UNIVERSITY IN THE UK THE PM GARDUATED FROM? IF IT’S BROWN, FLUSH IT DOWN, MR LOVELL, WHEN THEY GO LOW YOU GO HIGH & CONTINUE TO STAY THE COURSE & DON’T LET THE DETRACTORS DISTRACT YOU, MISERY LOVES COMPANY & EMPTY VESSELS MAKES THE MOST NOISE
Obediah, The ABLP bloggers are just embarrassed because their World Boss is a world class cogger. No imagination. He has to steal ideas from the UPP. He is a failure.
Another day has come and gone and the count down to the elections is on. The clowns are on the rise with a new clown everyday the climax is soon here and somebody go cry wonder who it will be
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