Budget 2025: Gov’t focused on community investment, tax reforms

The highly anticipated National Budget for 2025 will be presented next Friday, and the government has revealed key insights into its contents.

During a press conference on Thursday, Vice President Dr. Bharrat Jagdeo outlined the government’s priorities, highlighting greater investment in fixing community issues and reforms to the tax system designed to put more money in people’s pockets.

According to Jagdeo and borrowing from recent comments made by President Dr. Irfaan Ali, the upcoming budget will place a special emphasis on addressing community concerns that have emerged from ongoing engagements between the government and citizens.

“The budget will be characterised by an enhanced focus on community issues.

“Issues raised by people during numerous engagements when we visit these communities will be central to the decisions we make,” Jagdeo said.

He noted that the National Insurance Scheme (NIS) has already helped thousands of people, and the new budget will expand support to even more citizens, particularly those who do not currently receive a pension but will benefit from the new provisions.

One of the most pressing concerns raised by citizens has been the state of community roads, a legacy issue that was neglected during the previous APNU+AFC government.

“We’re addressing the roads that were long ignored by the previous administration, and we’re doing it in response to the people’s concerns,” Jagdeo added.

The VP reiterated that the government’s focus on community issues isn’t just about infrastructure.

He pointed to complaints about healthcare facilities, where targeted investments have already been made, and the government’s ongoing efforts to improve the state of community infrastructure, including sports grounds and recreational spaces.

A significant challenge that many communities face is waste management. According to Jagdeo, the government is set to boost efforts to tackle garbage disposal and waste management issues, helping local communities to collect and dispose of waste in an efficient and environmentally responsible manner.

Another key area of focus in the 2025 budget will be security. Jagdeo confirmed that the government will increase investment in security to ensure safer communities across the country.

On the fiscal side, the budget will introduce changes to the tax regime, which Jagdeo describes as a means of incentivising hard work. The new system will be structured in a way that rewards individuals who make greater efforts in their careers and businesses.

“People will be able to keep more of the money they earn, and less will go towards taxes,” Jagdeo explained.

“This is part of the government’s broader effort to increase disposable income for the people.”

The Vice President also pointed out that the People’s Progressive Party (PPP) government has been steadily decreasing taxes since 2020, putting more money into the pockets of citizens.