Interactive Chart -Taxes To Fill The $6.7 Billion Gap In The 2014/2015 Budget

Interactive ChartMinister of Finance, Dr. Peter Phillips in his contribution during the opening of the 2014/15 Budget Debate on April 17, proposed how the GoJ intends on financing the $6.7 BILLION GAP in the $540.1 billion 2014/2015 national budget.

According to Dr. Phillips, the $540.1 billion budget is to be funded from projected revenues and grants of $421.2 billion, leaving a financing gap of $118.9 billion.

The gap will partly be financed by loan receipts of $110 billion, utilisation of balances in the banking system of $1.4 billion and the revenues from the proposed new tax measures totaling $6.7 billion.

Dr. Phillips also pointed out that no administration likes to implement new taxes, but it is required to allow us to meet our primary surplus target.

Click Here Interactive Chart Proposed Revenue Measures 2014/2015