Caribzone News Highlights

By Caribzone.com

National

Prominent health attorney in Los Angeles, California, Jamaican Joy Stephenson-Laws, has been appointed Jamaica's new Honorary Consul in Los Angeles.

Stephenson -Laws received her appointment and writ of commission from the Minister of Foreign Affairs and Foreign Trade, Senator Kamina Johnson-Smith on February 7 this year.

The new Honorary Consul who hails from Sherwood Content in Trelawny, will be commissioned by Jamaica's Ambassador to the United States, Audrey Marks at a special installation ceremony on March 14, in Los Angeles.

According to the ministry, Stephenson-Laws who emigrated to the United States over 40 years ago earned a Bachelor of Arts from Loma Linda University and a Juris Doctor from Loyola University. She has spent her entire legal career addressing public benefits issues with a special emphasis on healthcare

Stephenson-Laws is founding and managing partner of Stephenson, Acquisto & Colman, a premier healthcare industry litigation firm.  

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Jamaica

Reduction of the General Consumption Tax (GCT) rate from 16.5 percent to 15 percent is among $18 million in tax cuts announced by the Government.

The objective is to stimulate economic activity and to continue the reform of the tax system towards greater levels of equity, efficiency and simplicity.

The GCT cut, effective April 1, 2020, will result in potential revenue loss to the Government of $13.96 billion.

“A cut in the rate of GCT will leave more disposable income in the economy, which will boost economic activity, which would benefit all households and firms,” Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke said as he opened the 2020/21 budget debate in the House of Representatives on March 10.

The last adjustment to the standard rate of GCT was in June 2012, when it was reduced from 17.5 percent to 16.5 percent.

The proposed reduction is expected to result in increased compliance by taxpayers, while incentivizing all sectors, through lower upfront cost and increased cash flow, which will serve to encourage growth in the economy.

Dr. Clarke also announced a reduction in the assets tax rate from 0.250 per cent to 0.125 per cent, effective in the next assessment year. This will result in a potential revenue loss of $3.02 billion.

“The responsiveness of the financial institutions to this reduction in terms of expanding their asset base, especially by lowering further interest rates and supporting the expansion of the domestic economic activity will determine how quickly we reduce any further,” he said.

Also announced were new income tax credit of $375,000 for companies (regulated and unregulated) with annual sales/revenue less than or equal to $500 million.

This is in addition to the employment tax credit available to unregulated companies and must be utilized within the year given, and can neither be carried forward nor result in a refund. This measure is expected to result in a potential revenue loss of $1 billion and is effective for the year of assessment 2020.

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National

The 2020 United States census kicks off last Thursday and is expected to be the country’s largest-ever official population count.

Households will start getting invitations to complete the census online, on the phone, or through a mail-in questionnaire. Despite all the controversy and debate, there will not be a citizenship question on the census forms. 

And yes, you are required by law to respond, or you could get fined. The full national count will be completed by the end of the year. 

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Jamaica

The Ministry of Education, Youth and Information has received the largest share of the Government’s $853.5-billion Budget for 2020/21, totaling some $117 billion.

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, said the provision is $5 billion more than the allocation for 2019/20, and represents the largest increase for the upcoming fiscal year, outside of sums earmarked for debt interest repayments.

Additionally, Dr. Clarke said it represents 22 percent of the earmarked non-debt expenditure of just over $491 billion, for 2020/21.

He made the disclosure as he opened the 2020/21 Budget Debate in the House of Representatives on Tuesday (March 10).

Dr. Clarke advised that the Government has earmarked $1.1 billion of the Education Ministry’s provision to the Primary and Secondary School Infrastructure Project.

This, he added, will facilitate the removal of more schools from the shift system, construction of more classrooms, and upgrading of other school facilities.

“In total, Minister [Karl] Samuda has announced that this project will cost $14 billion and will be implemented over three years, targeting 534 schools,” the Finance Minister further informed.

Meanwhile, Dr. Clarke said the Ministry of National Security has a capital budget of $15.9 billion.

Major allocations include $2.3 billion to construct and improve police stations and other buildings. Among these are the State-owned Forensic Pathology Autopsy Suite; completing the renovation of 40 police stations island-wide; and the production of designs, and pre-investment activities for two new police divisional headquarters in St. Catherine and Westmoreland, and a new national police headquarters.

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National

Joe Biden won big in last Tuesday’s smattering of primary elections. The former vice president claimed victories in Idaho, Mississippi, Missouri and the biggest prize of the day, Michigan.

Bernie Sanders' loss in Michigan is a big blow, both psychologically and mathematically, because Sanders won the state in 2016's primary.

The big picture is becoming clearer. Biden is sailing by, and Sanders is in big trouble. Sanders' campaign reps say they don't know what his next move is, as he watched

but he will definitely take on Biden on Sunday's CNN/Univision Democratic debate in Arizona.

Biden picked up another high-profile endorsement from former candidate Andrew Yang.

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Sports

The popular Inter-secondary Schools Sports Association (ISSA)/GraceKennedy Boys' and Girls' Athletics Championships (champs), has been cancelled as a safety measure in light of the increasing threat of the novel coronavirus (COVID-19) after Jamaica confirmed its first case early last week. As of Sunday, that count was up to 10 confirmed cases.

This will be the second time in the 110-year history that the five-day spectacle — considered to be the world's most popular high school athletics meet — will not be held since the inception in 1910. The first time was in 1944, and that was hampered by World War II.

The painful decision arrived following a lengthy meeting at the Ministry of Health between government officials, title sponsor GraceKennedy and organizers of the event, ISSA.

Government members in attendance were Minister of Education, Youth and Information, Karl Samuda; Minister of Culture, Gender, Entertainment and Sport, Olivia 'Babsy' Grange, and Health and Wellness Minister, Dr the Hon Christopher Tufton.

Representing ISSA was President Keith Wellington, ‘Champs’ Chairman Colleen Montague, and the Chair of the Champs Committee Richard Thompson.

GraceKennedy was represented by its group CEO Senator Don Wehby and general counsel and chief corporate secretary, Gail Moss-Solomon.

A widely circulated joint statement by stakeholders at the meeting confirmed the unpopular decision. It means that for the first time since 1964, the Jamaican high schools will not be represented at the Penn Relays Carnival in Philadelphia, starting on April 23.

A decision on the Penn Relays is expected by month’s end.

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