“Mr. Speaker, this Government under good leadership and administration, the interest rates were reduced ten times since 2018, leading to the lowest levels of interest rates for mortgages and consumer loans in the history of Jamaica. We introduced the tourism workers' pension scheme giving 100,000 tourism workers the opportunity to earn a pension. Mr. Speaker, we broadened the ownership of economy with 30,000 Jamaicans becoming shareholders of Wigton and Trans Jamaica Highway,” said Prime Minister Holness.
The Prime Minister also noted the abolition of the minimum business tax, the introduction of the first time $350,000 MSME tax credit, and the increased income tax threshold by the Government.
Moreover, the Prime Minister highlighted the reduction in GCT of 1.5 percent and the lowest levels of unemployment in the history of the country at 7.2 percent, adding that the consumers and fixed income earners enjoyed the most stable period of low inflation in Jamaica.
In addition to a 40 percent reduction in poverty in Jamaica, Prime Minister Holness underscored that the Jamaican economy grew for 18 consecutive quarters, 14 of which were under his Government, making it the longest quarterly economic growth since measuring quarterly growth in 1997.
Meanwhile, the Prime Minister emphasized the HOPE Programme, HEART NSTA, and the National Service Core as tangible programmers implemented and improved on by his Government.
“We implemented the HOPE Programme, 26,000 Jamaican youths got a second chance through apprenticeship type programmes. The HEART NSTA Trust saw 146,000 Jamaicans being trained. And one programme Mr. Speaker that I am particularly proud of, the National Service Core, [in which] we have seen over 2,000 Jamaican youngsters being exposed to training under the Jamaica Defence Force,” said Prime Minister Holness.
The Prime Minister also underlined successes in infrastructural development. He noted that extensive work has been done on roads, and bridges in Jamaica which gives hope to the people with its promise of increased economic activity and reduced travel time, and highlighted the Government's development of Port Royal and opening the new cruise ship pier there.
However, responding to Holness, Opposition Leader Dr. Peter Phillips, said the groundwork for Holness' development boast, certainly in terms of the highway and the Kingston metropolitan area road development, was laid by the People's National Party government while in office.
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