·??? Salaries move from $39, 540 to $50, 000·??? Old age pension increased from $13, 125 to $17, 000·??? Gold miners exempted from paying custom duties on fuel, 10 other items·??? Berbice Bridge toll for passenger cars, buses reduced from $2, 200 to 1900·??? Uniform Voucher increased from $1,500 to $2,000·??? Sausages and 21 other items to attract zero VAT ?By Kiana WilburgFinance Minister, Winston Jordan (left) being congratulated by Foreign Affairs Minister,
Wholesale NFL Jerseys, Carl Greenidge at the end of his budget speechClosing in on nearly four hours, Finance Minister Winston Jordan delivered his maiden budget which amounted to $221B for the last four months. With the exception of the reduction of Value Added Tax (VAT), the APNU+AFC government delivered on the remainder of all of its economic promises to the Guyanese populace and then some.Salaries and old age pensions were significantly increased, the Berbice Bridge toll was reduced and gold miners finally got their promised tax relief in some regard.Eager to unveil what the government has been planning since it assumed office, Jordan arrived at the National Assembly at 1:30 pm way before the scheduled time – to prepare mentally it seemed, for the main event of the day.Though the People’s Progressive Party/Civic (PPP/C) continues to leave its seats on the western side of the House vacant, House Speaker Dr. Barton Scotland noted that the opposition party submitted its names for its parliamentary candidates.Before revealing the goodies of what was described by many as one of the most comprehensive and detailed budgets in recent times, Jordan chronicled the events which led to the historic occasion for the fledgling government yesterday.As he addressed the Members of Parliament and the Speaker of the House, he said, “As will be recalled, the Guyanese people came out in their thousands; they were determined to bring an end to the morass, hopelessness and helplessness that had enveloped our country. They were determined to bring an end to a Government that had wreaked havoc on our society – sapping it of its energy and stripping it of its dignity and dynamism.”“And so, Mr. Speaker, after five anxious days, during which the Guyanese people agonized as they waited, the results of the General and Regional Elections were finally announced on May 16, 2015. The coalition of the APNU+AFC, which had earlier sealed a formal relationship to fight the PPP/C on a joint platform, was declared the winner. The Guyanese people finally exhaled after holding their breath against the stench of corruption, nepotism and discrimination that had assailed their olfactory sense. For too long, our people had to suffer under a Government that cared less about them and more about their friends and associates.”On this premise, the Finance Minister noted that the time has come for “A Fresh Approach to the Good Life in a Green Economy” which happens to be the theme of the 2015 Budget.But before divulging the details of the allocations for various sectors, Jordan felt that it was important for the nation to understand that when the government took office it was hit with various problems, particularly as it relates to two of the country’s biggest revenue earners, rice and sugar. He said that this was compounded by the threat by Venezuela for two-thirds of Guyana’s territory.After this, the Finance Minister then revealed what the APNU+AFC’s government’s vision for a better Guyana looks like when translated into budget form.Though VAT will not be reduced entirely or across the board until a review on its feasibility and impact is completed, the Finance Minister revealed that a number of food items will attract zero VAT.These are: yogurt, cereals, fresh carrots, milo and ovaltine, nestum, mustard and mayonnaise, locally-produced fruit juice, locally-made chowmein, vinegar, locally-made uncooked pasta, ketchup, chicken sausages in packets, locally-produced Chinese sauce, baking powder,? household cleaning agents, rolls of paper towel, liquid detergent, and computer printers for non commercial use.Jordan said, “It is our fervent hope that retailers will pass on the benefit from the removal of VAT from these items to the consumer, through the lowering of their prices. The estimated loss of revenue is $680 million.”As for Tax Exemptions to Medium and Small Scale Miners – another promise on APNU+AFC’s Action Plan – the Finance Minister said that eligible gold miners will be exempted from the payment of custom duties on fuel, matting, ATVs, jack hammer drills, flex hoses, expanding metals, pumps, pump housing, impellers, shafts and engines.He said that pursuant to the Customs Duties (Amendment) (No.1) Order 2004, the Government will enter into a new agreement with the Guyana Geology and Mines Commission (GGMC) and the Guyana Gold and Diamond Miners’ Association (GGDMA) to
