Opposition Leader Mark Golding has stated that Jamaica’s income tax threshold should be increased by about 40 per cent to match the present realities of the country’s working-class population.

Addressing a press conference at the People’s National Party (PNP) headquarters on Wednesday, Golding noted that the current income tax threshold of $1.5 million has not been adjusted since 2016.

“We would have to look at an inflation adjustment. In other words, we would have to look at the increase in the cost of living over the period, and adjust it by a similar percentage. That would be the normal way in which one would deal with these matters, and it would be at least 40 per cent,” said Golding.

“We have had over 40 per cent inflation. It needs to be significantly increased to give the working class a break,” Golding added. “There is no point having a threshold which is out of whack with where the cost of living has moved to, and that means that people are earning less than they ought to be earning.”

The Opposition Leader made the declaration amid public outcry over the increases for members of the political directorate. Prime Minister Andrew Holness announced earlier this week that he would be declining his own salary increase, which would have seen his pay rise from $9.16 million to $28.5 million by April 1, 2024.

PNP General Secretary Dayton Campbell declared that the only acceptable action for Holness to take is to retract the increases for all the members of the political directorate, including members of the Opposition.

-Christopher Thomas