Durrant Pate/Contributor

Opposition Leader, Mark Golding, has outlined a basket of goodies, which he argued would build back Jamaica better than before, if implemented.

Making his contribution to the 2026/2027 Budget Debate in the House of Representatives a short while ago, Golding hinged his programme of jumpstarting sustained economic growth in Jamaica by incentivising greater national productivity and getting a large portion of the 40% informal economy regularised. This should be done by offering small businesses and rolling out a three-year tax holiday for formalising their operations. 

The basket of goodies also includes removing taxes on overtime pay for persons earning up to $6 million dollars annually, removing tax from tips and gratuities for workers in the hotel and hospitality sector and a social justice initiative, as it regards land tenure. 

Articulating goodies proposals

On the matter of getting more businesses formalised, Golding  

explained that the large information sector in Jamaica is limiting the scope for business expansion, arguing that these businesses are often excluded from the financial system and opportunities to build market share. For him, “the informal economy is large not because Jamaicans want to be outside the system, but because the barriers to formalisation are very high and the incentives are unreachable.”

Citing as burdensome efforts of small businesses to be compliant, Golding declared, “Government programmes for MSME support that are announced and funded year after year repeatedly, have failed to have the desired impact. Their design and requirements fail to take the limited capacity of MSMEs into account.” 

“We would offer a three-year tax holiday for businesses once they formalise their operations, and would also provide discounted government registration, permit and licensing fees for doing business throughout the same period. That would build back betta than before. The government spends billions of dollars annually on goods and services. Small businesses should get their fair share, “ the Opposition Leader remarked.

Initiatives to be rolled out

He said a future PNP administration would establish a revolving J$1 Billion National Youth Innovation Fund to support youth-led tech and creative startups. Empowering our youth to innovate and lead would build back better than before.

On the matter of land, Golding said a future PNP administration would be regularising informal settlements across Jamaica, completing all unfinished Operation PRIDE schemes, and upgrading older communities with proper sidewalks, drainage, and green spaces. “We would be replacing zinc fences with concrete walls, not just for cosmetic reasons but for living in dignity. We would call this our PORTIA Programme, in honour of Jamaica’s first female Prime Minister.”

Continuing, the Opposition proposed to “amend the law to reduce the period required for adverse possession of Crown lands from 60 years, initially to 25 years. Even while we are in Opposition, we are determined to move this forward. We have done the preparatory research and drafting work. We have prepared the Bill to implement this vital social justice reform.”

He noted that the bill would amend three existing pieces of legislation: the Limitation of Actions Act, the Registration of Titles Act and the Cadastral Mapping and Tenure Clarification (Special Provisions) Act. He plans to table the bill as a Private Member’s Bill after the Budget debate, and is seeking support for it from both sides of the aisle. 

Arguing that Jamaica needs to promote productivity as the cornerstone of a strong economy, Golding proposed to remove taxes on overtime pay for persons earning up to J$6 million dollars annually as well as remove tax from tips and gratuities for hotel workers and others in the hospitality sector. 

In addition, he said the PNP would establish Joint Industrial Councils in sectors with high employment but low union representation, bringing employers and workers together to negotiate basic standards on pay and conditions that will attract workers to those industries. 

“No Jamaican in full-time employment should be living in poverty. We would task the Planning Institute of Jamaica with developing a framework for transitioning from a minimum wage to a living wage, tied to the actual cost of living and adjusted annually for inflation. That would build back better than before, Golding told fellow Members of Parliament.