Future tax cuts to attract investors - Golding

Prime Minister Bruce Golding says there will have to be cuts in some taxes to compensate for areas in which the country is unattractive to investors.

He made the statement at a PricewaterhouseCoopers forum yesterday.

According to Golding, the tax-reform programme currently being undertaken by the Government must ensure global competitiveness.

"We have to make favourable downward adjustments to compensate for other areas in which we are less attractive or less competitive. But I want to suggest that we must be careful not to be powered down by what I call the investor, the investment rat race," the prime minister said.

Golding also said the tax policy is only one of the areas on which Jamaica can build a response to the global recession. He also said the reforms could stimulate investment.

A joint select committee of Parliament is this month expected to begin deliberations on the proposed tax reforms.