See below for a statement from FITUG on Budget 2022:
The Federation of Independent Trade Unions of Guyana (FITUG) having considered the 2022 Budget recognizes it seeks to address every facet of national life in order to improve the well-being of the Guyanese people. The Federation sees the Budget as one that continues to expand the gains of the working-people as it alleviates some of the challenges they confront.
The FITUG notes that the Government, through the Budget, has listened to the concerns of the ordinary people and worked to develop a budget that places their concerns at the center. In this vein, we recognise the improvement in the income tax threshold that will improve workers disposable income. We note too the expansion of tax-free allowances to include life and medical insurance premiums. Apart from putting more monies in the hands of workers, the policy ensures that our workers and their families have better protection in difficult times. Additionally, we considered the decision to exempt withholding taxes on certain level of interest payments. Clearly, this is a pro-poor initiative that ensures that our ordinary people can save and gain more.
Apart from tax measures, they are several pro-people initiatives which the Federation welcomes. A significant boost was given to our school children who will now receive $30,000 aggregately. Additionally, thousands of our children will benefit from the provision of tablets and flash drives undoubtedly to close the chasm between the rich and the poor. An outstanding initiative of Budget 2022 is the provision of support to dialysis patients. The FITUG is aware that this life-saving treatment cannot be afforded by everyone, and the State’s support will undoubtedly make a meaningful difference.
We recognised from Budget 2022 the deliberate efforts to mitigate against international developments which have redounded to higher cost-of-living. We laud the extension of the freight cost adjustment that seeks to levy taxes at pre-pandemic levels. The reduction in the excise tax on fuel will also be particularly impactful. We, at this time, urge businesses to pass down the savings accruing to customers to ensure that the Government’s policies are truly impactful. The Federation also commends the decision to establish farmer markets. We believe the initiative will be a boon to both consumers and farmers and cushion the prices in the cost of food.
FITUG recognises that Budget 2022 is heavy on plans for tomorrow as well. It places special emphasis on infrastructure to ensure that our country can respond to the growing demands of the future. The investments in housing are also welcomed and ensure that Guyanese dreams of home ownership become a reality. We noted too the significant investments in the social sectors undoubtedly with the intention of making the lives of our people better.
The Federation sees Budget 2022 as one for all seasons. We believe that everyone will benefit from the Budget and our country will grow stronger as we are poised to reach previously unimaginable heights. Our review of the Budget confirms that our future is indeed bright and our people will be able to live the life they truly deserve. The FITUG commends Budget 2022.
