Robinson says Gov’t ‘Grossly Overestimated’ Budgetary Impact of PNP’s MSME Proposal

Opposition Spokesman on Finance, Julian Robinson, says portfolio minister, Fayval Williams, grossly overestimated the budgetary impact of the People’s National Party’s, PNP, proposal for a corporate income tax break for new medium, small and micro enterprises, MSMEs.

He’s responding to a claim by the minister that the waiver would cost the country $11 billion in annual revenue.

Mr. Robinson, during his budget debate contribution, suggested the break would encourage new MSME’s to formalise their operations and help stimulate economic activity.

Minister Williams countered, suggesting the move, along with other PNP proposals, would compromise the country’s fiscal stability.

But, Mr. Robinson says there are numerous other benefits to the country.

Julian Robinson, Opposition Spokesman on Finance.