The Jamaica Chamber of Commerce (JCC) yesterday applauded a number of measures in the 2021-22 budget announced by Finance Minister Dr Nigel Clarke last week Tuesday, but urged the Government to adopt bolder initiatives to generate economic activity and increase gross domestic product (GDP).

Describing Clarke’s presentation as a “comprehensive reform agenda”, the JCC said it approved of the move towards an independent central bank and a fiscal council, the announcement of no new taxes; and the removal of the Custom Administration Fee (CAF) on exports for small transactions below US$500.

 

“We would like the CAF to be abolished in its entirety, particularly for exports but understand it may not be possible at this time due to revenue considerations,” the JCC said in a news release.

https://www.jamaicaobserver.com/news/chamber-of-commerce-hails-budget-but-_217126?profile=1056