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FM
Former Member

Don’t be fooled by “Elections Budget”-

APNU warns

March 23, 2014 | By | Filed Under News

While the Minister of Finance, Dr. Ashni Singh is expected to present Budget 2014 in the National Assembly tomorrow, members of the opposition have made a strong call to members of the public to not be swayed by a possible “elections budget”.

Minister of Finance, Dr. Ashni Singh

Minister of Finance, Dr. Ashni Singh

This call was piloted by A Partnership for National Unity’s financial expert, Mr. Jaipaul Sharma during an interview on Friday last. Sharma said, “I think the onus will be on the government to produce a good budget and I think it might be an election year budget. We might very well see a lot of goodies in this budget. I don’t think the government will risk bringing a budget that will dissatisfy or not be accepted by the people. It might very well be a good budget. It might include a lot of things for the poor and ordinary people and we expect to see things for the poor and ordinary such as a large increase in salary, increase in the threshold, old age pension and public assistance. “We will be vigilant and we will be looking for a number of things. Last year’s budget had no increase for public assistance and we think they will be doing that.” Sharma added that whilst people may become excited by a possibly good promise, he said that citizens must not be fooled. “Pay close attention to how the opposition will reveal the hidden traps of the budget through careful examination of its merit. “We cannot be fooled by the goodies in the budget. There will be other parts of the budget, I am sure, that will conflict with the people’s interests. I would urge the Guyanese people wait and watch things as they unfold.” Through a recent notification the Ministry of Finance said, “It is expected that this year’s budget will continue to promote the People’s Progressive Party/Civic (PPP/C)’s commitment to accelerate economic growth and social development.” The Ministry said that the 2014 Budget “will emphasize macroeconomic stability through the continued creation of investment opportunities, expanding and upgrading physical infrastructure, improving the quality of social services, and strengthening institutional and regulatory environments.” It had also said that despite the recent disagreements between the government and the political opposition on issues of national interest, the budget provides the ideal opportunity for all parties to work together in the interest of the people of Guyana.

Jaipaul Sharma

Jaipaul Sharma

“Minister Singh nevertheless calls on the Parliamentary Opposition to embrace the opportunity to work together with Government to ensure smooth passage of the budget through the National Assembly in the coming weeks,” according to the Ministry. APNU Leader, Brig. David Granger said, recently, “We have not had the opportunity to insert our concerns into the budget so we don’t know what will be announced by the Minister of Finance. The minister said he is hoping that we will support the budget but hope is not a good planning strategy …it is too late to hope.” His Shadow Minister of Finance, Carl Greenidge, has also threatened during the week that the Opposition will ensure that the budget supports and promotes the interest of all Guyanese and if need be they will cut or lightly trim where necessary to ensure that budget is in line with the Constitution.

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increase in the threshold, old age pension and public assistance.

 

The threshold is currently $600,000 per year, or those earning over $50,000 per month pays 30 percent tax over 50,000:

 

It is expected that the threshold will now be 720,000 per year and those earning over 72,000 dollars per month will pay 30 percent tax.

 

It is expected that old age pension will be increase from $12,500 to 15,000 per month.

 

The above is a speculations of what maybe in play for  this budget.

FM
Originally Posted by asj:

increase in the threshold, old age pension and public assistance.

 

The threshold is currently $600,000 per year, or those earning over $50,000 per month pays 30 percent tax over 50,000:

 

It is expected that the threshold will now be 720,000 per year and those earning over 72,000 dollars per month will pay 30 percent tax.

 

It is expected that old age pension will be increase from $12,500 to 15,000 per month.

 

The above is a speculations of what maybe in play for  this budget.

well they will have enough money  for this because lot of what they presented in this budget will go out the door 

FM

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