Finance Minster Dr Nigel Clarke has announced that there will be no new taxes. He also announce a raft of grants for persons affected by the Coronavirus pandemic.
Dr Nigel Clarke was speaking in Parliament for the opening of the Budget debate this afternoon.
He also announced that effective April 1, the Students’ Loan Bureau will remove the need for two guarantors for borrowers and will instead require one guarantor to get financing.
This will make it easier for more students to get loans.
In the meantime, Dr. Clarke says the gov’t will not be able to increase the US$50 limit for items that may be imported duty-free at this time.
He says gov’t earning has fallen precipitously and it would be unwise to erode revenue base and threaten wholesale and domestic retail trade.