PNP Vows to Phase Out Asset Tax Over Five Years

Opposition Spokesman on Finance, Julian Robinson, says the PNP will introduce a competitive tender for government deposits to break the monopoly of the National Commercial Bank, NCB and Scotiabank.

He says this will allow other banks to benefit from much needed capital and drive down interest rates for small businesses.

Mr. Robinson also vowed to phase out the Asset Tax paid by financial institutions over five years.

He says this will be twinned with negotiations for the reduction of burdensome banking fees for Jamaicans.

Julian Robinson, Opposition Spokesman for Finance.

He was making his contribution to the Budget Debates in the House of Representatives on Thursday.