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-bolder, more receptive than previous years
THE Georgetown Chamber of Commerce & Industry has said that it views the Government’s 2011 Budget as a bolder and more receptive one than the efforts of previous years. The Chamber said in a release yesterday: “The reduction in the corporate tax rate, and the increasing of the personal income tax allowance are perhaps the boldest parts of the package.
“The change is significant, as it signals, both to individuals and companies, the Government’s desire to encourage investment and social prosperity.
“However, it is hoped that these budgetary actions are sustained, and that the new governing administration next year builds on the achievements of this year’s budget.
“While these tax initiatives are indicative of the government’s willingness to address private sector concerns, more is still needed.
“Ideally, the Chamber would like to see the acceleration of overall tax reform, on which we have been in engagement with the government over a number of years.
“Additionally, the government must be congratulated for its management of the economy, which, despite poor performances in the sugar and mining industries, was still able to record a positive growth of 3.6 per cent.”
Chamber lauds 2011 Budget
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