News from the OPM

At today’s Post Cabinet Press Briefing, the Honourable Fayval Williams, Minister of Finance and the Public Service disclosed that government revenues continue to remain strong for the financial year 2024/ 2025 as a result of the Government’s skillful and prudent fiscal management. No new taxes are necessary at this time. In keeping with its commitment to economic stability and compassionate fiscal management, the Government has not introduced any new taxes since 2016. Furthermore, Minister Williams highlighted that the Government prioritized comprehensive reform aimed at stimulating economic activity and improving the standard of living for all Jamaicans. Key initiatives include: Increasing Income Tax Threshold to 1.7 million Reduction of GCT by 1.5% Introduction of the one-off 20,000 Reverse Income Tax Credit Increasing the pensioner tax exemption from $80,000 to $250,040 Doubling of the de minimis value for imported goods US$100 These reforms have been instrumental in strengthening the Jamaican economy, leading to increased confidence and, most importantly, meaningful benefits for the Jamaican people. Minister Williams commented: "Our administration remains committed to creating an environment where all Jamaicans can enjoy the benefits of economic growth and businesses can thrive without the imposition of new taxes. Maintaining this stance is crucial for the…

Minister of Finance and the Public Service, the Honourable Fayval Williams, M.P., at today’s Post Cabinet Press Briefing, highlighted the Income Tax (Amendment) Act 2025 taken in Parliament yesterday, January 14, 2025. This legislative milestone formalizes critical revenue measures outlined in the 2024/25 budget, further solidifying Jamaica’s fiscal and economic stability. Key Highlights of the Revenue Measures: Support for the Jamaican Taxpayers: The income tax threshold exemption was increased to 1.7 million. Support for Vulnerable Groups: Pensioners and individuals aged 65+ will benefit from increased tax exemptions, rising from J$80,000 to J$250,040 annually. Encouragement for Renewable Energy Investments: Independent Power Producers (IPPs) producing 75% or more energy from renewable sources, such as solar or wind, will see a reduction in corporate income tax rates from 33 1/3% to 25%. Empowering MSMEs via Junior Market Expansion: The cap for maximum voting share equity capital for new companies listing on the Junior Stock Exchange has been increased from J$500 million to J$750 million. Corporate Tax Reduction for Trust & Corporate Service Providers: The tax rate for companies providing regulated trust and corporate services has been reduced to 25%, eliminating ambiguities and supporting industry growth. Minister Williams at the Press Briefing emphasized, “We…

“Every one of us must start to take personal responsibility for the level of violence within our families, within our communities, within our social institutions, and indeed within our parish and our country.” - Prime Minister Holness ----------------------------------------------------------------------------------------------------- Prime Minister Dr. Andrew Holness has called urgent attention to the destructive effects of violence, particularly within families. Dr. Holness was speaking on Friday (January 10) in St. Mary during the handover of a new home to Ms. Clover Harris, who is a beneficiary of the New Social Housing Programme (NSHP). Ms. Harris, a survivor of domestic abuse, was forced to flee her home, highlighting the urgent need for societal action to address the far-reaching consequences of violence. “The story that Clover, Miss Faye, expressed to us today is something that the entire country ought to pay attention to. Domestic violence, violence within the family, is separating households, dislodging people from their housing, and creating, in effect, a homeless crisis,” said Prime Minister Holness. Prime Minister Holness emphasized that violence not only causes physical harm but also has deep emotional and intergenerational effects. The Prime Minister underscored the connection between domestic violence and homelessness, noting that families are often torn apart by…

Prime Minister, Dr. the Most Honourable Andrew Holness, has expressed profound sorrow and outrage following the tragic fire in St. Ann that claimed the lives of three young children. This is another incident of similar nature in recent weeks. “Once again, for the second time since the start of the year, the nation mourns a terrible tragedy that should never have occurred of children dying in house fires,” said Prime Minister Holness. “It is absolutely heartbreaking to lose three innocent lives in such a preventable manner. Every Jamaican child deserves to grow up in a safe environment, and this incident brings into sharp focus the gaps in vigilance and responsible parenting we face as a nation. While we understand the economic demands on parents, particularly single-parent households, there can be no excuse for leaving children unattended or with little or no supervision, particularly in cases that could not be considered an emergency,” Prime Minister Holness continued. “As parents, we must do more to ensure our children are cared for and protected at all times. That is not a responsibility any parent can transfer to another lightly," said Prime Minister Holness. In light of this recent tragedy, the Government strongly reminds…

“You have a good government. A government that understands the delicate balance that has to be maintained with the national interest and with your personal interest.” - Prime Minister Holness ------------------------------------------------------------------------------------------------   Prime Minister Dr. Andrew Holness says the government remains committed to ensuring adequate and reliable water supply for all Jamaicans while maintaining fiscal responsibility. Speaking at the commissioning of the Port Royal Pipeline Replacement Project earlier in the week, Prime Minister Holness highlighted several upcoming and ongoing water projects spearheaded by the National Water Commission (NWC). The government, through the NWC, will invest over $5. billion on these improvement projects. Prime Minister Holness says it is all funded from the NWC's revenues—not through borrowing. Dr. Holness emphasized the importance of careful resource management. “The government has been wise in how we spend. We are spending the resources in a fiscally responsible way, in a sustainable way, in a strategic way. And no one can say that the investment in Port Royal will not yield results for the country.” He also emphasized the need for balancing immediate needs with long-term national interests. “Governments have to be very sensitive in balancing as we pursue what is in the national interest…

More than two thousand five hundred more Jamaicans now have improved water supply. The move comes as part of a deliberate strategy by the Andrew Holness administration to improve the consistent and reliable delivery of potable water supply to communities across the island. Prime Minister Dr. Andrew Holness yesterday officially commissioned the completion of the multi-million-dollar Port Royal Potable Water Transmission Main Upgrade. This critical infrastructure project, led by the National Water Commission (NWC), replaces decades-old cast iron pipelines with 8.6 kilometers of modern High-Density Polyethylene (HDPE) pipes, ensuring improved service for residents, businesses, and visitors. Speaking on Tuesday (January 7) at the commissioning ceremony in Port Royal, Dr. Holness highlighted the transformative impact of this $533-million project. "The people of Port Royal were severely impacted by the town's outdated infrastructure. The old metal pipes, laid more than 60 years ago, could not carry the volume or pressure of water required, often breaking under strain. What we have done is to replace these pipes with high-density polyethylene ones, which are robust, flexible, and designed to last longer. This investment will significantly enhance the quality of life for residents and support the growing demands of businesses and visitors.” The project, which…

On behalf of the Government, I extend my deepest condolences to Barbara Gayle's immediate family, her friends, and her colleagues at The Gleaner. Barbara was a stalwart of Jamaican journalism. She dedicated over four decades of her life to journalism and became one of the nation’s most respected and accomplished court reporters. She covered cases spanning the Privy Council in the United Kingdom, the Jamaican Supreme Court, the Court of Appeal, parish courts, and circuit courts. Her meticulous reporting brought attention to many historic rulings and ultimately ensured greater transparency and public awareness of Jamaica’s justice system. Barbara’s career was defined by truth, justice, and transparency. She was a multi-award winning journalist, copping the Press Association of Jamaica’s (PAJ) 1997 Community Service Award, Journalist of the Year and regional awards from the Caribbean Association of Media Workers. She was also recently recognized by the PAJ for her longstanding contributions to journalism. Even in retirement, her passion for the profession continued, with her regular contributions to The Gleaner. Her dedication and contributions to journalism have undoubtedly left an indelible mark on Jamaica's media landscape. My thoughts and prayers are with all who knew her and were touched by her work. She…

Prime Minister Andrew Holness has reaffirmed the government’s steadfast commitment to tackling the deep-rooted issues of informal settlements and urban decay. Speaking on Friday (December 13) at the handing-over ceremony for the Victoria Palms Housing Development in Denham Town, Dr. Holness addressed the housing challenges in inner-city communities and pledged to uplift vulnerable Jamaicans by formalizing housing through community renewal. “This is a significant moment, not just for Denham Town, but for all of Jamaica,” stated Prime Minister Holness. “We come together to celebrate the fruits of partnership, vision, and perseverance as we officially hand over 12 units in the Victoria Palms Housing Development.” The Victoria Palms project is part of the government’s Social Housing Programme, which aims to replace substandard houses with structured, secure housing. The Prime Minister highlighted the historical context of informal settlements in Jamaica, tracing their emergence to the Great Depression of 1929, which spurred urban migration and overcrowding in Kingston. “About 60 percent of Jamaica's population lives in informal settlements. These areas lack proper infrastructure and ownership, creating conditions where crime thrives. To change this, we must not only rebuild communities but also rebuild our economy to sustain these improvements,” Prime Minister Holness explained. Prime…

  “We want to do this for every single inner-city community in Jamaica. This is my wish and my vision.” - Prime Minister Holness -----------------------------------------------------------------------------------------------   Prime Minister Andrew Holness has handed over 36 modern housing units to residents of St. Paul’s Lane in West Central St. Andrew, marking a significant milestone in the government’s efforts to uplift inner-city communities across Jamaica through urban renewal. Prime Minister Holness said such dire conditions inspired the idea to launch a transformative urban renewal programme which will be used as a model to implement across the country. He announced that allocations for such projects will be included in the next national budget. "We have proven that this model works. Now, we can move full speed ahead with developing other such communities across Jamaica, particularly within Kingston and St. Andrew… If we uplift the physical conditions under which people live, it will elevate their minds as well. This is the beginning of a larger effort to ensure that every Jamaican, regardless of their circumstances, has access to safe, decent, and comfortable housing,” the Prime Minister said. The innovative housing development spans an acre and a half of land, accommodating 36 households with modern amenities,…