St Vincent’s government announced on Monday (10 January) that no new taxes will be implemented in 2022, as the island’s economy continue to grapple with the fallout from La Soufriere eruption and the ongoing COVID-19 pandemic.
The country’s Finance Minister Camilo Gonsalves disclosed the aforementioned, as he delivered the 2022 budget in the colonial Parliament building in Kingstown.
Delivering more welcoming news on Monday night, Gonsalves said that during 2022, the taxation on motor vehicles would be reviewed.
“The measures that will be looked at will allow Vincentians to purchase more modern and environmentally-friendly vehicles”, Gonsalves said.
The main opposition New Democratic Party (NDP) in October of 2021 called on Finance Minister, Camillo Gonsalves, to give an “ironclad commitment” that the ruling Unity Labour Party (ULP) government would not introduce any new taxes in the 2022 national budget.
Opposition Leader Godwin Friday had made the call while speaking on his party’s radio program on Nice Radio.
The appropriations bill amount to one billion, three hundred and twenty-nine million, three hundred and forty thousand, eight hundred and sixty dollars.
An appropriation, also known as a supply bill or spending bill, is a proposed law that authorizes the expenditure of government funds.
It is a bill that sets money aside for specific spending. In most democracies, approval of the legislature is necessary for the government to spend money.
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