2021 Budget will enhance well-being of all Guyanese - FITUG

2021 Budget will enhance well-being of all Guyanese – FITUG

Feb 16, 2021 News

– encourages business community to pass savings to consumers

Kaieteur News – The Federation of Independent Trade Unions of Guyana (FITUG) having considered the 2021 National Budget is most pleased with several measures proposed. In a release it said, “We believe that the policies and programmes outlined by the Government through the Budget will redound to the benefit of Guyanese from all walks of life.”
FITUG said too that it has taken note of the several initiatives to put more monies in the hands of “our people and ease the burdens placed on their backs by the former Coalition Administration.”
The increase in the school grant, reduction in water tariffs, hikes in old age pensions and public assistance, removal of VAT on internet and data services, and the expanding the list of zero-rated products, FITUG said, can well translate into thousands of dollars remaining in the pockets of the working-people. “Indeed, these are most welcomed more so in view of the several challenges that still confront our people, especially our vulnerable population. On this score, we must express our dismay regarding the absence of any improvement in the income tax threshold though we recognise several other measures will have similar effect,” it was noted.
To this end, “we urge our business community to pass the savings to the consumers to ensure that the full benefit of the Government’s initiatives are felt and seen.”
The Federation notes as well the significant allocations to the health and education sectors. It speaks, in a tangible way, of the Government’s commitment to “safeguarding our people” and “building a knowledge-based economy.”
These two fundamental policies, FITUG noted, play a seminal role in the ongoing development and the massive sums earmarked could see much transformation in these two important areas. FITUG added, “Significant efforts, we recognised, have been placed on enhancing national infrastructure and may certainly ease the many woes our people have in getting from place to place. Modern and efficient infrastructure is desperately needed and the Budget we see makes a significant first step to correcting many of the maladies that prevail.”
FITUG has identified, too, policies to increase the nation’s housing stock, adding, “Indeed, it is a cherished dream of many Guyanese to have their own homes. These aspirations were dashed over the last five years and we see clear efforts to bring this back onto the front burner. Several supportive policies to bring down the cost of ownership were unveiled, allowing many Guyanese to become closer to transforming their dreams into reality,” FITUG added.
The Budget, it noted, also spoke to the exciting economic times that has gripped the country. Underscoring that there is a great deal to anticipate, the union body said that, “In as much as the times are bright, we recognise the Government laying a foundation for the period ahead. We find this commendable as such policies augur well for this and future generations of Guyanese.”
Guyana, it stressed, is known to have great untapped potential and thus, “It is heartening to see some of this potential being unlocked through the transformative agenda laid out by the Government.”
It is against this background that the FITUG said that it welcomes Budget 2021.