Economy

Taxes aimed at “redistribution of wealth”

Reducing inequality or passing on the benefits of economic growth is an ongoing project. The Attorney-General and Minister of Economy Aiyaz Sayed-Khaiyum were speaking at the Speaker’s Debate in Suva earlier this week. SAYED-KHAIYUM: “Obviously Fiji has been addressing these issues with some socio-economic measures, for example, the various taxation schemes that have been introduced, they are there […]

Salote Qalubau

August 6, 2016 7:55 am

Reducing inequality or passing on the benefits of economic growth is an ongoing project.

The Attorney-General and Minister of Economy Aiyaz Sayed-Khaiyum were speaking at the Speaker’s Debate in Suva earlier this week.

SAYED-KHAIYUM: “Obviously Fiji has been addressing these issues with some socio-economic measures, for example, the various taxation schemes that have been introduced, they are there to invest in what we call the redistribution of wealth.  So Service Turnover Tax and the Environmental Levy, these are targeted at specific sectors of the economy.”

Minister Sayed-Khayum said other developments included the setting up of a domestic violence helpline and consumer helpline to assist members of the public.

SAYED-KHAIYUM:  “We have the equal distribution of land lease money, this is a critical issue as highlighted in the press just a few days ago, where the Prime Minister said there was $12 million in savings for itaukei children or members of landowning units. This is a common buffer for them  and a way of empowering them and their ability to farm.”

Mr Sayed-Khaiyum added that more long-term policies needed to be put in place.

SAYED-KHAIYUM: “We’ve invested in roads, water, electricity. The ability to connect villages to markets is also empowering because of accessibility to services that people need today to participate equally in the economy. The point is reducing inequality or passing on the benefits of economic growth is an ongoing project and the way to address that project is to ensure the right policies are in place and those policies need to be sustainable.”

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