'Undoubtedly a good move'... Economist endorses new consumption taxes

Economist Dr Damien King is supporting the Government's tax package announced Thursday saying it targets people who have been evading income taxes.

Earlier, Finance Minister Audley Shaw announced just over $13 billion in additional taxes to make up for the $12.65 billion the government will give up with the raising of the income tax threshold from $592,800 to $1 million come July 1.

READ: Income tax threshold to be increased to $1 million July

Commenting on Twitter, King argued that using consumption taxes, primarily on petrol and travel, to finance the increase in the threshold is "undoubtedly" a good move.

"The tax burden has been shifted from over-burdened formal sector workers to those who evade income taxes," King tweeted.