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PNP described budget as ‘fiscally irresponsible’
The People's National Party has described the Finance Minister's Budget Presentation in Parliament Thursday as "Fiscally irresponsible and inequitable."
The Party's Joint Executive Committee and Parliamentary Group met Thursday evening to conduct an initial review of Mr. Shaw's Presentation.
According the PNP, the Finance Minister's speech reflected neither fiscal responsibility nor equity as the country has been hit with the biggest tax package in history.
Party spokesman, Raymond Pryce, says the imposition of the gas tax and the addition of other items to the GCT listing will place added burden on consumers especially in the context of wage freezes and layoffs.
"The additional tax on gas is an entirely different matter, which I am sure learned economists will agree with me and with the People's National Party, that the ripple effect of that gas tax on other consumer items will be measured and found to be of a depletory action on people's already diminished purchasing power," said Mr. Pryce.
He says the Golding administration is still misreading the global economic crisis and it is likely that all the targets and projections contained in the Budget will be missed this year as they were last year.
The Party's Joint Executive Committee and Parliamentary Group met Thursday evening to conduct an initial review of Mr. Shaw's Presentation.
According the PNP, the Finance Minister's speech reflected neither fiscal responsibility nor equity as the country has been hit with the biggest tax package in history.
Party spokesman, Raymond Pryce, says the imposition of the gas tax and the addition of other items to the GCT listing will place added burden on consumers especially in the context of wage freezes and layoffs.
"The additional tax on gas is an entirely different matter, which I am sure learned economists will agree with me and with the People's National Party, that the ripple effect of that gas tax on other consumer items will be measured and found to be of a depletory action on people's already diminished purchasing power," said Mr. Pryce.
He says the Golding administration is still misreading the global economic crisis and it is likely that all the targets and projections contained in the Budget will be missed this year as they were last year.
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