The People’s Progressive Party/Civic (PPP/C) will present its first full budget – the 2021 National Budget – on February 12, 2021, and ahead of that presentation, Vice-President, Dr Bharrat Jagdeo has offered insight into what the government’s fiscal plan offers.
During a press briefing on Tuesday at the Arthur Chung Conference Center, Jagdeo said the budget is one that is pro-poor and pro-private sector. He stayed clear of revealing any of the budget measures.
“It shall be a continuation of the framework already established… and reflected in our manifesto. We remain faithful to the key objectives in this budget and every budget in the coming years. These budgets will all advance us closer to those goals we have established,” he noted.
The Vice-President explained that the former A Partnership for National Unity + Alliance For Change (APNU+AFC) coalition government’s economic policy was neither pro-poor or pro-private sector and as a consequence, it caused the deterioration in the livelihoods of citizens and the private sector.
“We are going to dismantle all those policies that affected poor people that APNU+AFC put in place,” Jagdeo emphasised.
He said the budget will allow for the expansion of the productive sector and will offer assistance to the ailing non-oil economy to resume its productive health.
“Apart from dismantling some of the policies APNU+AFC put in place that were harming the poor and private sector, it [the budget] will create incentives for productive bases of the economy in all non-oil sectors,” Jagdeo told the news conference.
In addition, Jagdeo said the budget will put in place the supportive infrastructure for the productive sector and will also include resources to support citizens through the prevailing COVID-19 pandemic with plans to have the entire country vaccinated before the end of 2021.
The Vice-President declared that there will be no tax increase but stayed clear from committing to lowering existing taxes.