Budget 2021 will improve the well-being of all Guyanese – FITUG
– encourages the business community to pass on savings to consumers
Kaieteur News – The Guyana Federation of Independent Trade Unions (FITUG) after considering the 2021 National Budget is delighted with several measures proposed. In a statement he said, “We believe that the policies and programs outlined by the Government through the Budget will rediscover for the benefit of Guyanese from all walks of life.”
FITUG also said it had taken note of the many initiatives to put more money into the hands of “our people and ease the burdens placed on their backs by the former Coalition Ministry.”
The increase in the school grant, a reduction in water tariffs, increases in old age pensions and public support, the removal of internet VAT and data services, and the expansion of the list of zero-rated products, FITUG says, can be thousands of dollars remaining in the pockets of the working people. “Indeed, these are all the more welcome given the many challenges still facing our people, especially our vulnerable population. On this score, we must express our disappointment at the absence of any improvement in the income tax threshold even though we recognize that many other measures will have a similar effect, ”he noted.
To this end, “we encourage our business community to pass on the savings to consumers to ensure the full benefit of Government initiatives is felt and seen.”
The Federation also notes the significant allocations to the health and education sectors. He talks, definitely, about the Government’s commitment to “protecting our people” and “building a knowledge-based economy.”
Both of these fundamental policies, FITUG noted, play an innovative role in the ongoing development and the huge sums earmarked could see a lot of transformation in these two important areas. FITUG added, “We made significant, acknowledged efforts on improving national infrastructure and they may well alleviate the many woes our people have in getting around. Modern and efficient infrastructure is desperately needed and the Budget we see is a significant first step in rectifying many of the existing cases. ”
FITUG has also set out policies to increase the nation’s housing stock, adding, “Indeed, a dear dream for many Guyanese to have their own homes. These aspirations have been shattered over the last five years and we are seeing clear efforts to bring this back to the front burner. Several supportive policies have been unveiled to lower the cost of ownership, allowing many Guyanese to come closer to transforming their dreams into reality, ”added FITUG.
The Budget also noted the exciting economic times that have gripped the country. Undermining that much was to be expected, the union body said, “As far as times are bright, we recognize that the Government is laying the foundation for the coming period. We see this as commendable as such policies are a great addition to this and future generations of Guyanese. “
Guyana, he stressed, had great untapped potential and therefore, “It is encouraging to see some of this potential unlocked through the transformational agenda set out by the Government.”
It was against this backdrop that the FITUG said it welcomed the 2021 Budget.