THE Federation of Independent Trade Unions of Guyana (FITUG) has proposed that the Government increase the Income Tax threshold to $70,000 monthly from the current sum of $50,000.This is one of several recommendations which the umbrella trade union body proposed when it engaged Minister within the Ministry of Finance, Jaipaul Sharma, on Thursday on issues related to the 2017 National Budget, expected to be presented in December 2016. FITUG Treasurer Seepaul Narine led the FITUG delegation at that meeting.

FITUG proposed that personal income tax should be paid at the rate of 25 per cent of chargeable income instead of the 30 per cent that currently obtains. As regards value-added tax, the body requested that the rate be revised downwards, and be reflected in the 2017 Budget.

“To bring relief to families, especially (those) with children, FITUG advises the minister to once again make provision for tax relief for spouses and children under age of 16 (years),” the body said.

Regarding the sugar industry, FITUG sought continued support for the industry, in order for it to overcome its setbacks; and called on Government to adopt the Sugar Commission of Inquiry (CoI) recommendation to have the Skeldon Co-Generation Plant returned to GuySuCo and a revised Power Purchase Agreement (PPA) be put in place.

Additionally, the federation proposed that the industry’s diversification be advanced through other co-generation plants, the construction of a refinery to take advantage of the CARICOM market demand, and establishment of a distillery in the Ancient County of Berbice.

“The diversification initiatives FITUG advises could be pursued following discussions with various stakeholders, including the respective trade unions in the industry,” the release stated.

FITUG also renewed its opposition to the closure of the Wales Sugar Estate.

FITUG also requested that Old Age Pensions should commence at 50 per cent of the public sector minimum wage, and that NIS Old Age pension increases be linked to the annual public sector wage rise, as was practised in the past.

FITUG suggested that allocations to trade unions in the 2017 National Budget be provided to unions which had their financial records audited by the Auditor General’s Office, as is required by the Trade Union Act.

FITUG also suggested that the allocations be distributed while taking into account the aggregate number of members in the bargaining unit of each union.

Among other recommendations, FITUG suggested that Government should consider compiling and publishing reports on the impact and performance of various foreign investment projects, in an effort to determine if best possible returns are made.