PNP rebuffs PM’s ‘unfounded’ cost of living claim

The Opposition People's National Party (PNP) says it strongly refutes Prime Minister Andrew Holness' assertion that the cost of living would double under a PNP administration.

The party says the claim by the prime minister is baseless, arguing that Holness should instead reflect on his management of Jamaica's economy.

Speaking at a Jamaica Labour Party meeting in Clarendon North Central on Sunday, Holness charged that the JLP has been the better steward of the economy, even as inflation tightens the screws on the pockets of many Jamaicans.

READ: Holness claims cost of living would double under PNP

He argued that voters should stick with the ruling JLP.

“While it is a difficult time, and we understand, and we are doing what is necessary to get us through this difficult time, it is not a wise move to even consider allowing the PNP [People's National Party] to even put a hand on the management of the economy,” Holness warned.

However, Opposition Spokesperson on Finance Julian Robinson has hit back, arguing that in the midst of an economy struggling with severe challenges, where everyday Jamaicans are grappling to make ends meet, the Prime Minister has resorted to speculative forecasting, relying on imagination and superstition instead of effective leadership.

“It is imperative for the Prime Minister to ground himself in reality and recognise the ongoing hardships faced by Jamaicans, rather than indulging in unfounded predictions and crystal ball gazing.”

Robinson pointed to 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.

“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 Opposition reiterated its call for the current administration to implement more substantial measures to alleviate the cost of living challenges faced by vulnerable Jamaicans.

"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," said Robinson.

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