No new taxes in budget 2024 – Jagdeo

The People’s Progressive Party Civic (PPP/C) delivered four national budgets since its return to office in 2020 but none of those fiscal plans imposed new taxes on Guyanese.

In fact, those budgets reversed a number of taxes, new or increased, by the former APNU+AFC government. Similarly, Vice President Dr. Bharrat Jagdeo disclosed on Thursday that the 2024 national budget, to be presented next Monday, will not be funded by the imposition of any new tax on Guyanese.

“It has been a trend of PPP governments and this is something we promised in our local government campaign, no new taxes but I can also say that at the national level there will be no new taxes,” Jagdeo said.

Speaking at a party press conference, the Vice President also pointed to support for industries and people in the 2024 fiscal plan.

“We have a different approach to the management of the country, one that is planned and well thought out,” he said.

And while Finance Minister Dr. Ashni Singh will unveil the details of the budget on Monday, Jagdeo said Guyanese can look forward to the continuation of infrastructural development.

“You’re going to see economic infrastructure continuing, projects that will expand productive capacity, you will see support for industries, and you will see social infrastructures.

“…You will see more help for vulnerable groups. Significant support to children, women, elderly… you’re going to continue to see support for job creation.

“I’m not going to get into specifics… the Minister of Finance will get into the details on that,” Jagdeo said.

Dr. Singh said previously that budget 2024 aligns with the administration’s manifesto of 2020, which laid the foundation for prosperity for all.  It will be shaped upon two primary pillars, which include the implementation of mechanisms aimed at increasing disposable income into the hands of citizens and the development of Guyana’s economic and social infrastructure.

Last year, on January 16, Dr. Singh presented a $789.1 billion budget in the National Assembly under the theme ‘Improving Lives Today, Building Prosperity for Tomorrow’.

That budget saw critical development programmes for the government being fast-tracked and many more expanded to reflect government’s continued transformational agenda for the country.