No New Taxes in Upcoming Budget

Prime Minister Gaston Browne has assured citizens that the upcoming budget will not introduce any new taxes, focusing instead on bolstering entrepreneurship, infrastructure development, and public services.

This announcement follows the Throne Speech delivered by Governor General Sir Rodney Williams, which highlighted Antigua and Barbuda’s achievements and future goals.

Browne revealed plans to allocate significant resources to address pressing infrastructure issues, including road repairs and water supply improvements. “We’ve entered into private contracts to install additional reverse osmosis plants,” he said, aiming to meet full national water demand by August 2025.

The Prime Minister praised the nation’s strong economic performance, noting four consecutive years of robust growth post-COVID. He highlighted a reduction in the debt-to-GDP ratio from 104% in 2014 to 62%, with expectations of falling below 60% in the next fiscal year. “We’ve had a great year, and we want to share the good news with the population,” Browne remarked.

Browne outlined a range of initiatives to improve public services, including the acquisition of new fire engines, garbage trucks, and resources for solid waste management. Beautification projects, involving tree planting and property repairs, will enhance the country’s main arteries. Additionally, prisoners will participate in highway cleaning and rehabilitation efforts to foster community improvements.

Barbuda continues to emerge as a luxury tourism destination, with significant per-capita investments and the recent opening of its international airport. Expansion plans are in motion to accommodate large commercial carriers by 2025. “The investments in Barbuda have been enormous,” Browne said, highlighting its growing prominence in the global tourism market.

The Prime Minister urged Antiguans and Barbudans to seize investment opportunities, particularly in the tourism sector. He noted that local savings in financial institutions had grown by $250 million in one year but warned against relying on low-yield savings. “Putting your money in the bank cannot provide you with sustainable wealth,” Browne advised, calling for greater participation in national development projects.

Browne emphasized that the upcoming budget presentation would celebrate the country’s achievements while outlining plans for further progress. He reiterated his government’s commitment to fostering economic growth, sustainable development, and improving the quality of life for all citizens.

With no new taxes and a focus on expanding capital investments, the budget is expected to detail measures to build on the momentum of recent successes. The presentation is scheduled for next Friday.

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