Michael Halkitis Former Minister Of State For Finance Comments On Rumours That the PLP Wanted To Raise Vat To 15 Per Cent

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Former Minister of State for Finance Hon. Michael Halkitis.

From The Office of Chairman Of The PLP
For Immediate Release

3 June 2018

Former Minister Of State for Finance Michael Halkitis said the following this morning: “There was no plan by the PLP to raise the rate of VAT to 15 per cent. Any such allegation is invented and flies in the face of the truth. The rate was set at 7.5 per cent under the PLP and there was no plan by the PLP to raise the rate.

“Our conviction was that in combination with Bahamar, the Pointe, the deal for Grand Lucaya and numerous investment projects then train under the PLP for the Family Islands, the growth provided by these projects along with our revenue enhancement efforts and our establishment of the central procurement unit to better manage expenditure, the 7.5% was adequate.

“There was therefore in our view no need to raise VAT beyond 7.5 per cent.”

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