KINGSTON, Jamaica — With general elections drawing near, the Private Sector Organisation of Jamaica (PSOJ) has weighed in on proposals advanced by both major political parties, urging that campaign commitments be backed by credible plans to safeguard economic stability.
The organisation acknowledged that elements of both manifestos could strengthen Jamaica’s business climate if executed effectively. It credited the Jamaica Labour Party (JLP) with focusing on regulatory efficiency and digital transformation, noting that measures such as online permitting and improved land titling have the potential to cut bureaucratic delays. At the same time, it welcomed the People’s National Party (PNP) for advancing an industrial and innovation agenda that promotes technology-driven growth and increased support for micro, small and medium enterprises (MSMEs).
Despite these positives, the PSOJ singled out income tax proposals from both sides as an area requiring caution. It warned that while promises of reduced rates and higher thresholds may appear attractive to voters, their fiscal impact could undermine Jamaica’s fragile balance if not thoroughly assessed.
According to the PSOJ, the PNP’s plan to lift the personal income tax threshold to J$3.5 million and the JLP’s campaign to cut the base tax rate to 15 per cent both demand rigorous modelling. The group stressed the need for clear disclosures on revenue assumptions, debt implications, and fallback measures in the event of lower-than-expected growth.
“Tax reform cannot be approached with guesswork or political expedience,” the organisation stated. “We are calling for detailed projections covering revenue impacts, timing of implementation, and contingency frameworks to ensure Jamaica’s macroeconomic gains are not eroded.”
The PSOJ concluded that the election season provides an opportunity for both parties to demonstrate commitment not only to reform, but to disciplined execution that preserves investor confidence and national stability.
