A lot of the COVID-19 Response Budget is only based on what the govt can give employers in terms of tax policies, concessions and incentives - Prasad

A lot of the COVID-19 Response Budget is only based on what the govt can give employers in terms of tax policies, concessions and incentives - Prasad

By Shanil Singh
Friday 27/03/2020
National Federation Party Leader Professor Biman Prasad

National Federation Party Leader Professor Biman Prasad says a lot of the measures that have been announced in the COVID-19 Response Budget are only based on what the government can give to employers in terms of tax policies, concessions and incentives.

Professor Prasad believes there is little support for those who are going to be unemployed and little is directly going from the government coffers who will be suffering badly for the next few months.

He says essentially, this reflects on the tight fiscal space that the government has had even before COVID-19 hit Fiji.

Professor Prasad adds this is reflected in the government’s inability to provide a very direct stimulus package to businesses, people and small and medium enterprises in particular.

He also says that they are happy with the announcement that elected Members of Parliament will take a 20% pay cut

The NFP Leader says the decision to reduce FNPF statutory contributions is a measure to help both the employers and employees although this is a difficult time but that is perhaps reasonable and that would help employees to keep some of their money which is their savings.

COVID-19 RESPONSE BUDGET ESTIMATE 2019-2020
http://www.parliament.gov.fj/wp-content/uploads/2020/03/COVID-19-RESPONSE-BUDGET-ESTIMATE-2019-2020.pdf

ECONOMIC AND FISCAL UPDATE SUPPLEMENT TO THE COVID-19 RESPONSE BUDGET ADDRESS
http://www.parliament.gov.fj/wp-content/uploads/2020/03/SUPPLEMENT-TO-THE-COVID-19-RESPONSE-BUDGET-ADDRESS.pdf

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