Gov’t to remove taxes & co-invest in care facilities across the country – Jagdeo

Vice President Dr Bharrat Jagdeo highlighted that the government is exploring co-investment opportunities with individuals interested in establishing daycare facilities for children and/or elderly care homes in their communities.

Jagdeo also said such ventures would be tax-free, to help Guyanese earn while keeping the cost of their services affordable for all.

“We want more women to be trained and come into the workforce, but a lot of them can’t find a place for the kids, but you can’t be too expensive, and it can’t be too far from their homes

“… The government can’t support thousands of facilities, but there may be a model where we incentivise people living in villages, and it becomes a business opportunity,” Jagdeo told reporters at his press conference on Thursday.

He explained that the government could develop a prospectus and co-invest in ventures that would allow persons to convert sections of their houses into care facilities. Those facilities, he emphasised, must be developed to a standard suitable for care work.

To help keep such a venture affordable but lucrative, Jagdeo said the government would remove any tax on income earned from that facility.

If there are persons interested in establishing larger facilities, not just in sections of their homes, Jagdeo said the corporate tax would be removed. Altogether, he believes this initiative would help address the need for more care facilities while supporting hundreds of new entrepreneurs.