REVENUE UP

Prime Minister Dr. Ralph Gonsalves has dispelled claims by Government’s critics that its coffers are empty.

On Monday, April 24, the Prime Minister, speaking of the Government’s fiscal operations for the first quarter of the year, said he was pleased to announce that there has been a significant increase in monies collected.{{more}}

He said at this time last year the total Revenue and Grants stood at $65.4 million, however in 2006 the total Revenue and Grants for the first quarter is $79.8 million.

Dr. Gonsalves added that while the Current Revenue, i.e taxes collected was $64.5 million in the first quarter of 2005 this year the figure collected was $79.5 million or $15 million more.

“All the major heads of revenue have gone up. Taxes on income and profits moved in the first quarter of 2005 from $13.7 million to $29.9 million (2006). Taxes on property sales went up from $233,000 to $301,000,” said Dr. Gonsalves, adding that taxes on International Trade moved from $27.3 million in 2005 in the first quarter to $31.7 million in 2006.

“You hear it on the road: Customs nar ah collect no money becar people nar ah import. People nah get no money to by nutten,” said the Prime Minister.

He disclosed that monies collected from licenses of various kinds including Alien Land Holding licenses moved from $4.5 million in 2005 (January-March) to $5.5 million in 2006 during the same period.

Addressing the matter of total expenditure for the first quarter of 2005 the Prime Minister said $87.5 was spent for both Capital and Recurrent while in 2006 $89.7 was spent. Recurrent spending he said, amounted to $74.7 million in 2005, 2006 $78.4 million in 2006 for this quarter.

Up to this time last year $34.5 was spent on Personal Emoluments while $37.7 million had been spent in 2006.

The Prime Minister took pleasure in announcing that while last year at this time there was a deficit of $10.3 million, this year at the end of the first quarter there is a surplus $1.04 million.