KINGSTON, Jamaica. October, 2023: The People’s National Party (PNP) is refuting what it says is Prime Minister Holness’ baseless assertion that the cost of living would double under a PNP administration.
In a statement today, the PNP says “In the midst of an economy struggling with severe challenges, where everyday Jamaicans are grappling to make ends meet, the Prime Minister resorts to speculative forecasting, relying on imagination and superstition instead of effective leadership.”
“ “When the PNP took office in 2011, we inherited an inflation rate of 7.56% from the JLP. By the end of our term in February 2016, we had reduced it to 3.68%, significantly alleviating the cost of living for Jamaicans. ”
The statement said “It is imperative for the Prime Minister to ground himself in reality and recognize the ongoing hardships faced by Jamaicans, rather than indulging in unfounded predictions.”
Opposition spokesman on finance Julian Robinson, provided historical data to counter the Prime Minister’s claims, stating, “When the PNP took office in 2011, we inherited an inflation rate of 7.56% from the JLP.
By the end of our term in February 2016, we had reduced it to 3.68%, significantly alleviating the cost of living for Jamaicans while maintaining fiscal responsibility.
This record underscores the PNP’s ability to manage inflation and enhance living conditions.”
The Opposition reiterates its call for the current administration to implement more substantial measures to alleviate the cost of living challenges faced by vulnerable Jamaicans.
Mr. Robinson emphasizes, “Considering that Jamaica has exceeded its tax revenue projections by over $100 billion in the last two fiscal years, there is ample room for the government to do more to support the Jamaican consumer.”
Furthermore, it is important to note that the preparatory work to amend the Bank of Jamaica Act to make it an independent central bank began under the last PNP Administration of 2012-16 and was continued when the JLP assumed office in 2016.
The commitment to improving economic stability and governance transcends political lines and underscores the bipartisan efforts needed to enhance the financial framework for the benefit of all Jamaicans.
The PNP urges the Prime Minister to refocus his efforts on his responsibilities and create an economy where Jamaicans can afford to put food on their tables. (WireJA)
