News, News-buzz

Gov’t to Announce Major Tax Changes

By Ernie Seon

Image of Prime Minister Chastanet
Prime Minister Chastanet

THE St. Lucia government will next week provide a glimpse of its revised tax policies as it seeks to offset growing financial misfortune, a consequence of low growth and high growing indebtedness.

Prime Minister Allen Chastanet is expected to address the nation at month end when he is expected to announce sweeping changes to his administration’s tax policies that will include a revised rate for the Value Added Tax (VAT), which currently stands at 15 per cent.

The promise of a revise rate for the tax system introduced on October 1, 2012,‎ was made by the United Workers Party (UWP) as it campaigned successfully for the June 6 general elections as part of a five point plan to bring immediate relief to St. Lucians.

Chastanet, speaking to the Caribbean Media Corporation (CMC) ahead of his planned address revealed that the quantum of taxes collected here as a percentage of gross domestic product (GDP) versus other countries, suggests that the island was being seriously overtaxed, and there was not enough money in circulation.

What’s more, he said, when money went into the government’s coffers it did a poor job of spending it resulting in poor economic returns.

“We think that the private sector will do a substantially better job at deciding how to spend money. So we are going to reduce the Value Added Tax, that’s a fact and we will make an announcement at the end of the month.

“We will make a second announcement in the New Year of a complete overhaul of our tax system as we think there are less burdensome ways in which the tax system can be less strenuous on the more impoverished people in the country, ensuring that it would not act as a disincentive to growing business or those making investments,” he said.

Prime Minister Chastanet said that with very few sectors to invest in government would be granting some relief to the corporate sector which at the same time would need to pay a fair share to help sustain the economy.

He said that with unemployment figures estimated at 23 per cent, providing employment remains a top priority and emphasis will be placed on seeking to attract investors to the island.

“We have seen that investment has dried up, the only new investment the former government was bringing to the table was through the Citizen Investment Programme (CIP) and not based on the economics or the brand of St. Lucia,” Chastanet added.

He said that government has been identifying investors to support critical areas of investment such as tourism, in an effort to increase the number of hotel rooms and diversify the islands economic base.

Other areas such an information technology centers and financial and agriculture sectors are critical to encouraging national development he said.

“The economy is too small, we can’t afford the best education system, we can’t afford a high quality health care system, we can’t afford the level of security that we need, and neither can we afford an economy that is going to generate opportunities for everybody, not only to be able to earn an income but one they can build a life on.”

Chastanet said that his administration intends to focus on the key sectors and areas “which is what the quadrant plan does.

“We are putting teams to focus on these areas with the intention of just driving each one, which is a brand and business by itself,” he said, adding that the government aims to double the GDB over the next 10 years.

He said during the budget presentation next April, a four year plan will be tabled which should redound to achieving that objective.

Prime Minister Chastanet said St. Lucia stands to benefit if more creative ‎approaches are made at attracting the right kind and quantum of investment.

“One billion dollars can’t cut it,” he said in reference to the annual budgetary allocations.

“We are not creating enough economies of scale to be able to compete against other nations, so we believe that doubling the GDP is only the beginning,” he added.

3 Comments

  1. ALLEN CHASTANET:

    PLEASE, PLEASE, PLEASE, I beseech you to do the right thing and RESIGN from the Government of St. Lucia immediately, without taking our people whose Race, Language and Culture you and the Chastanet Crime Family intensely despises with amplified intensity.

    Please you sleazeball, RESIGN IMMEDIATELY! STOP dragging our country and its people in the gutters and Kaka Chien, with your LYING, VILLAINOUS, BOORISH, THUGGISH, DECEITFUL, COUNTERFEIT, BOGUS, CORRUPT, CHARLATANIC, AND DYSLEXIC SELF – Las enbarwase moune, sackwey kooyon.

    Allen some of us are fully aware you intend to do nothing addressing the innumerable murders(much more than 12) committed by your U.W.P, the Chastanet Crime Family, and the Killers in R.S.L.P.F. under Pinochet Francois, and through your inaction allow the pecuniary sanctions imposed by the USA to continue bankrupting the Lucian Treasury, and securing the boot of the Chastanet Crime Family upon the necks of the people they call Niggers.

    You are an ignorant lowlife sleazeball who sees the African Lucian people as NIGGERS, going as far as insulting Black Journalists, telling them, “I am ashamed of you”, because a reporter asked you a question. Allen Chastanet, you’re a piece of Dog Shit who is a pathological liar, and your White Supremacist Chastanet Crime Family must leave this country right now ! GO BACK TO IRELAND.

    You have now entered into a secret plot with some of the world’s most unsavory criminals, to give away the southern quarters of St. Lucia, and extract billions of dollars from the people, to line the pockets of the CHASTANET CRIME FAMILY and the mobster Toe Ah Khing, with such actions certain to bankrupt our country, placing us beneath the feet of the International Criminal Bankers/ IMF. Allen Chastanet YOU MUST RELINQUISH YOUR REIGN OF TERROR OVER THE PEOPLE OF SAINT LUCIA IMMEDIATELY BEFORE THE PITONS TURN TO DUST.

    https://www.facebook.com/284538805083530/videos/526152900922118/

    .

    .

  2. .

    You Lucians were duped by the contrivance of the now officially declared Honorary White Men, Rick John Wayne, and Blackface Josie, coupled with the Occultism of Guy Joseph. In the case of the unfortunate weightlifter now afflicted with the curse of impotency and insanity, brought about by Anabolic Steroids abuse, and the Sexual transition of Ms. Blackface Josie to a closeted Mal-Mama, we have come to realize that the abuse of Pharmaceutical derived molecules can result in unfathomable physical and mental infirmities as displayed in the specimens mentioned above.

    However, this thug Allen Chastanet who is a sleazeball evil white supremacist, suffers from some psychiatric disorder, and perceives himself to be some kind of monarch causing him to even appear attired in some strange kind of Cassock and Robes of the white Jesus Christ during the campaign for elected office with black African slaves and all.

    Now this thug has decided to disrespect the whole population of this country by lying to them about having a report prepared by month’s end, only to play PEEK-A-BOO with the Black people that this thug continues to disrespect and deceive.

    John Wayne, Jeff Fedee, and Ms. Blackface Josie should be arrested and tried for treason, but instead these Honorary White men are allowed to roam freely committing all kinds of criminal actions around the island where dead bodies are turning up everyday.

Leave a Reply

Your email address will not be published. Required fields are marked *

Send this to a friend