Finance Minister Fayval Williams - FILE PHOTO
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Finance Minister Fayval Williams has revealed that the decision announced by the Prime Minister to cut the General Consumption Tax on electricity from 15 to 7 per cent next year will result in the government giving up $1.5 billion.
Prime Minister Dr Andrew Holness said on Sunday that the change will take place in the next budget cycle, which is to be approved by March 2025.
The Finance Minister, in response, told Radio Jamaica News that the move will help to ease the cost of living on Jamaicans.
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