“No new taxes.” That was the bold declaration for yet another year from Finance and Public Service Minister, Dr Nigel Clarke, as he wrapped up his opening contribution to the 2022/23 Budget Debate in Gordon House on Tuesday.

Clarke told the House that this was the seventh time since the Jamaica Labour Party formed the government in 2016 that Jamaicans were not burdened with new taxes.

Turning to revenue measures after an hours-long presentation, Clarke said “I am pleased to begin my remarks by informing the people of Jamaica that there will be no new taxes.

“As I said last year, we are prioritising economic recovery, which we want to achieve in the quickest possible time. Increasing taxes at this time would run counter to that objective,” he continued.

The finance minister emphasised that this was the seventh consecutive fiscal year where, on a net basis, the government has not raised taxes on the Jamaican people.

“This is the fifth consecutive fiscal year where there will be absolutely no new taxes,” he noted.

Meanwhile, Clarke said the government will be establishing a special provision, in the amount of $2 billion to provide targeted support to those who are most adversely affected, and who have the least ability to absorb the impact of high gas and energy prices.

“I can immediately see this being used in part, to provide relief to taxi operators who have fixed fares, and some towards providing transportation support to children on PATH. But there are other groups and we will dialogue with stakeholders on the best methodology for allocation of this support and announce the details shortly,” the minister said.

He acknowledged that the price of unleaded petroleum has risen by almost 50 per cent in the last 12 months and said the government recognises that many Jamaicans are suffering from this significant increase in price.