Dear Editor,
Once again, economists at the University of the West Indies have remained timidly silent as the nation struggles to decide what to make of the various economic plans of both the Jamaica Labour (JLP) and the People’s National Party (PNP).
With their training they could greatly assist the ordinary people who don’t have their learning by giving objective and impartial explanations of the claims being made.
Without better explanation, I don’t like the feel of the JLP’s 10-point plan because it smacks of eating off the profits the country is just starting to make, instead of investing it for greater profits, jobs and economic growth.
One JLP spokesperson explained that the proposal that people making up to $1.5 million per annum would not pay income tax would be funded by tax money collected above target, money saved from the falling interest rates, and the small growth in the economy.
To me, any surplus made now should be ploughed back into the economy immediately. The country has suffered the pain of austerity to get us to this point. Eating off the profits would set us back to where we are coming from. No wise business person eats or spends the first profits by increasing salaries and buying motor cars for everyone. It sounds very much like what the JLP is proposing.
The other thing I have noticed is that the money the JLP proposes to use is from efforts made by the PNP, even while they say nothing is being achieved. My question is why should I change the PNP in those circumstances? They are at least a known quantity. I don’t know what to expect of the JLP.
Help me out UWI economists, please.
Bryan B Williams
bbwilliams2002@gmail.com
Once again, economists at the University of the West Indies have remained timidly silent as the nation struggles to decide what to make of the various economic plans of both the Jamaica Labour (JLP) and the People’s National Party (PNP).
With their training they could greatly assist the ordinary people who don’t have their learning by giving objective and impartial explanations of the claims being made.
Without better explanation, I don’t like the feel of the JLP’s 10-point plan because it smacks of eating off the profits the country is just starting to make, instead of investing it for greater profits, jobs and economic growth.
One JLP spokesperson explained that the proposal that people making up to $1.5 million per annum would not pay income tax would be funded by tax money collected above target, money saved from the falling interest rates, and the small growth in the economy.
To me, any surplus made now should be ploughed back into the economy immediately. The country has suffered the pain of austerity to get us to this point. Eating off the profits would set us back to where we are coming from. No wise business person eats or spends the first profits by increasing salaries and buying motor cars for everyone. It sounds very much like what the JLP is proposing.
The other thing I have noticed is that the money the JLP proposes to use is from efforts made by the PNP, even while they say nothing is being achieved. My question is why should I change the PNP in those circumstances? They are at least a known quantity. I don’t know what to expect of the JLP.
Help me out UWI economists, please.
Bryan B Williams
bbwilliams2002@gmail.com