GCT on light bills to be cut in 2025

Jamaicans are set to see their lights bills going down as the tax on electricity usage is to be reduced next year.

Jamaica Labour Party leader and Prime Minister Dr Andrew Holness this afternoon told his party’s annual conference at the National Arena that the GCT on electricity will be cut from 15 per cent to 7 per cent in 2025.

Holness said the change will take place after the next budget, which is to be approved by March 2025.

He said the government understands the hardship being faced by some Jamaicans and has moved to offer a reprieve.

Meanwhile, Finance Minister Fayval Williams says it will cost approximately $1.5 billion annually to fund the proposed GCT cut on electricity bills.

"That's not a budget buster," she said, following the announcement by Holness.

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