NUPW President Urges Tax Relief and Incentives in Financial Statement for Consumer Spending Boost

Amidst repeated claims that the economy is consistently performing better and an outlook for growth, a trade unionist is hoping today’s Financial Statement And Budgetary Proposals provide incentives that put more money in consumers’ pockets.

Richard Green, president of the National Union of Public Workers (NUPW), wants a return of some of the measures like claiming on mortgage interest, tax credits for children and even a review of the 17.5 per cent value added tax (VAT) rate, which was supposed to be a temporary measure.

“I want to see a rolling-back of some of the tax rates for lower-income earners to give them additional spending power . . . an increase in the tax allowances and lowering of taxable income, giving greater support for middle-income earners,” Green said yesterday.

He would like VAT to be rolled back to 15 per cent, or at least a reduction

on supplies that support home ownership, like building material, as well as food items.

Green called for the return of allowances on mortgage interest, claims for children and energy conservation projects, and for taxes to be removed from retirement savings plans. He wants facilities to create greater incentives for saving and investing and to make entertainment and travel allowances tax-free again.

He did not speak specifically to the trade unions, but noted: “The economy has been performing well. There has been consistent growth in the economy and that would have been as a result of many of the sacrifices that public officers made during the period.”