Jamaica's PM announces plan to cut electricity tax, aiming to lower costs and boost economy.

Jamaica's Prime Minister Andrew Holness announced a plan to reduce the General Consumption Tax (GCT) on electricity from 15% to 7% starting in 2025, aiming to lower electricity costs and improve the economic situation. The reduction, set to take effect after the next budget in March 2025, targets households and is expected to cost about $1.5 billion annually. Holness also discussed other measures to improve the pre-paid system and encourage off-peak electricity use.

November 24, 2024
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