The Jamaica Manufacturer’s Association (JMA) has made the call for politicians to focus on issues that will assist in driving the country forward ahead of the February 25 General Elections.
In a release issued yesterday, JMA President, Metry Seaga said these issues include the need for greater recognition of the role of the manufacturing sector in promoting growth through social partnerships.
He says “Manufacturing continues to create significant economic value, manifested in its multiplier effect. This underscores the importance of the sector in maintaining a strong and vibrant economy. It is going to be impossible to stimulate and accelerate higher growth rates in the Jamaican economy, without further improvements and expansion of the manufacturing sector”.
Seaga says other issues such as the existing tax regime and the high rates of crime and violence also need to be addressed.
The JMA says “tax reform is critical to strengthening the manufacturing sector and must be given utmost priority. While some progress has been made in this capacity, seen in the reduction of the corporate income tax, data indicates that lower tax rates lead to higher revenue growth”.
The manufacturers say as such, efforts must be made in securing drastic and comprehensive improvements for an evenly shared tax structure.
Going forward, the JMA says it will support to whichever party that forms the next government however, political practitioners and aspirants need to refrain from inflammatory rhetoric as they embark on the period of campaigning.