The Jamaica Labour Party (J.L.P), Andrew Holness Jamaica's Prime Minister wasted no time in releasing and explaining his '10 Point Plan' for the Jamaican economy that is slowly deteriorating due to economic changes.
Hon. Andrew Holness went into details launching a website which highlighted everything you need to know about his plan for Jamaica's future.
A table below simplifies what packages are included in his '10 point plan.'
1. Give those earning $1.5M or less an income tax break
We are committed in principle and practice to real reform of the tax system. We will again reduce transfer taxes, stamp duties and estate taxes. To help our economy grow and help you take care of your families, we will get rid of personal income tax for everyone who earns JA$1.5m or less.
2. Restore the JJSE Benefits
We will immediately restore the benefits at the Junior Stock Market to grow small to medium sized businesses, as they form a stable base for job creation.
3. Dedicated Ministry of Growth
We will reform government for efficiency and create a consolidated Ministry of Economic Growth and Job Creation.
4. List state owned companies on JSE
Apart from divestment of loss making government entities to which we are already committed, we will list on the JSE state owned companies such as the UDC and Factories Corporation.
5. Invest in Water Infrastructure
Jamaica's water infrastructure is inadequate, we will fix it. We will make strategic capital investments in water. Jamaica is not short of water, the PNP-led government does not know how to manage our water.
6. Multi-generational 50 - 60 year mortgage
We will reform the NHT, the Housing Agency and the Mortgage Bank to expand affordable housing construction and reduce interest rates on mortgages. We will create a special inter-generational 50 to 60 year mortgage to make home ownership and payments easier.
7. Special Council of Investment Ambassadors
We will create a special council of investment ambassadors to seek out large investors from all over the world and bring them to Jamaica. We will complete the work we started to develop Jamaica as an International Business Centre. All our foreign missions will also be tasked with economic diplomacy as the main objective.
8. National Apprenticeship and Service Programme
Economic growth must mean jobs for our people. While we will seek investments that match the available skill sets, we will train for new jobs. A new and expanded National Apprenticeship and National Service Programme, will help young people earn a stipend and gain work experience and certification.
9. Digitize all government records
We will digitize all government records, and business processes. This will improve government and will be just one area employing the young people we have trained under the National Apprenticeship and Service Programmes.
10. Rebuild Town Centres and Cities
We will revitalize and rebuild our town centres and cities. We will start with the redevelopment of the Kingston waterfront and market district, as well as the Vernamfield corridor.