PSOJ

On July 26, 2012, the PSOJ hosted its Annual Economic Forum. Supported for a third year by JMMB as Headline Sponsor and Sterling Asset Management as a Silver Sponsor, the Forum explored the theme: “Consensus but no action: Why can’t we just do it?” As always, the objective of the Forum is to advance the cause of economic development and job creation in Jamaica. Traditionally, the Forum has focused on policy, but this year, the Economic Policy Committee headed by Vice president Nicholas Scott decided to focus on implementation. In his opening address to the Forum, PSOJ President, Joseph M. Matalon noted that “there are many areas of economic policy where legitimate debate exists on what should be done: tax reform, energy policy, and public sector reform to name a few. In these areas, good people can disagree. In such circumstances, reaching a consensus on the way forward and getting buy in from stakeholders is a challenging first step. The focus here is on the “what.”

Closing the 2011/12 Budget Debate Wednesday May 11, 2011 the Minister of Finance the Honourable Audley Shaw, released a Green Paper on Tax Reform for Jamaica.

We have noted with grave concern the manner in which recent changes in
the basis of application of SCT to alcoholic beverages has been handled.

Without making any comment on the principle of taxing such beverages on
the basis of applying tax at specific rates on alcohol content by volume
(ABV), which does appear from the international literature to be the
commonly accepted basis for application of excise-type taxes on
alcoholic beverages, we would wish to make the following general
observations from a tax policy and implementation perspective.

Enthusiasm remains high among investors in Jamaica! Investment projects across Jamaica’s various economic sectors remain on course for implementation, as investors continue to affirm their confidence in Jamaica in the wake of the recent unrest that affected some sections of Kingston, the capital city. (Read More)

The four (4) organisations representing the private sector in the Partnership for Transformation (PFT) talks, The PSOJ, JCC, The MSME Alliance and the JEA/JMA, have expressed their full support for the partnership process and reiterate their strong commitment to the talks that are aimed at addressing the key economic and social issues facing the country.

IMF Executive Board Approves US$1.27 Billion Stand-By Arrangement with Jamaica.
After approximatelysix months of intense negotiations the IMF has approved a standby lending facility for Jamaica. Please click here for the full release on the IMF’s website.