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Gov't moves to securitise Sangster International Airport; opposition concerned

 
The Government of Jamaica is reportedly preparing to enter another securitisation deal. 
 
This time the administration will be pledging $385 million of future revenues from the Sangster International Airport in Montego Bay. 
 
The funds will be used to support a $180 million expansion programme at the airport, as well as to assist with the government's budgetary operations.
 
This move follows a similar arrangement involving Norman Manley International Airport in Kingston, where 12 years of future earnings were pledged to help finance government spending. 
 
That deal included the recent $7 billion payout under the reverse income tax credit scheme which benefitted more than 580,000 taxpayers. 
 
But the opposition is raising red flags. 
 
Opposition Spokesman on Finance Julian Robinson says the timing is poor. He argues that the country is just emerging from a V-shaped recession and with conservative growth projections, there could be serious risks to future government revenues.
 


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