The following statement was issued this afternoon by the Leader of the Opposition, Bharrat Jagdeo.
Impromptu comment by Leader of the Opposition on government’s withdrawal of tax-free inputs for the manufacturing sector
The government has gone completely insane. I was told they have practically shutdown the tax-free importation of inputs for our local manufacturers. This is a desperate measure to bolster dwindling tax revenue. Rather than address the core reasons for the revenue shortfall which is the precipitous drop in economic activities in the country and the ineptitude in defining a way forward, the government has resorted to targeting the productive sectors of our economy. This ill-advised policy in relations to the manufacturing sector will have dire consequences for those companies and may result in the closure of some of them and the loss of thousands of jobs.
I call on the government to immediately reverse this anti-manufacturing policy.
