Gov't Providing $2B
Despite calls for a reduction of the Special Consumption Tax (SCT) on fuel, the Finance Minister has indicated there will be none. Instead, Dr. Nigel Clarke has announced a special provision of 2 billion dollars to support Jamaicans who are most adversely affected and are least able to absorb the impact of high gas and energy prices. Minister of finance Dr. Nigel Clarke says the Government of Jamaica recognizes that many Jamaicans are grappling with a significant increase in gas and energy prices and as such will establish a special provision in the amount of 2 billion dollars to provide support to those most affected.
He points out that members of the opposition People’s National Party (PNP) are among several individuals who’ve advocated for partial or complete removal of the special consumption tax (SCT) of $7 per litre placed on petrol by the PNP administration in 2015.
However, he indicates the gas tax will remain. At the same time, Dr. Clarke says Jamaica’s dependence on oil is a risk to its economic security.
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