With the pressing need to cushion the blow of rising fuel and food prices globally, the SLP administration has outlined its policy measures to bring immediate relief to Saint Lucians. Some measures include:
1. Subsidizing cooking gas
2. No personal income taxes for people earning less than $2083 monthly, representing 15,000 public and private sector workers
3. Cushioning consumers from the full impact of rising fuel prices
4. Reducing personal income tax
5. Prioritising the payment of tax refunds to taxpayers
6. Waiving interest and penalties charges on personal and company income taxes
7. Providing grants and soft loans funding for the Youth Economy of $10 million
8. Providing grants and soft loan funding for Micro, Small and Medium-sized businesses
9. Providing grants and soft loan funding for community-based tourism businesses
10. Funding for the Creative Industries, carnival, and Emancipation Day celebrations
11. Waive import duty of $10,000.00 on vehicles for travelling officers in the public service
12. Increase the amount and range of support services for vulnerable groups
13. Provide a $500.00 one-off payment for pensioners
14. Increase pay to public servants
15. Subsidise the price of rice and sugar to the consumers
The latest increases for which protection has been provided where rice has increased by 15%, flour by 31%, brown sugar by 28%, and white sugar by 75% is absorbed by the government at an estimated cost of $9.8 million.
Prime Minister, Hon. Philip J. Pierre explained that government has been financing much of its debt by rolling over bonds and treasury bills for the last eight (8) months with no access to lending, which was exhausted by the last administration.
