hiphopanonymous
06-11-08, - 09:55 AM
MP—Tax cuts will impact local farmers:
http://www.thenassauguardian.com/national_local/347134940278731.php
..."By KRYSTEL ROLLE, Guardian Staff Reporter, krystel@nasguard.com
The tax cuts in the 2008-2009 Budget are threatening to "close down" the already dwindling farming industry, as farmers will find it even harder to present competitive prices against those of imported products, said South Eleuthera MP Oswald Ingraham yesterday afternoon during the budget debate in the House of Assembly.
Last week, Prime Minister Hubert Ingraham announced tax cuts on 160 food items. Included in that line-up, taxes were eliminated for citrus products, including grapefruits, oranges, tangerines, limes and lemons. Stamp taxes and duties were also eliminated on cereals, spaghetti, bananas and plantains, the PM announced.
Meantime, the 25 percent import duty on watermelons and mangoes will be eliminated, along with the 30 percent import duty on guavas, peaches, frozen vegetables and oatmeal.
This spells bad news for the farming industry, which has steadily declined since the late 1970s, noted the South Eleuthera MP.
In the 1978 agricultural census, there were 4,214 farmers, but by 1994 it dropped to 1,727 and in 2005 the figure had fallen lower to 1,242...."....
http://www.thenassauguardian.com/national_local/347134940278731.php
..."By KRYSTEL ROLLE, Guardian Staff Reporter, krystel@nasguard.com
The tax cuts in the 2008-2009 Budget are threatening to "close down" the already dwindling farming industry, as farmers will find it even harder to present competitive prices against those of imported products, said South Eleuthera MP Oswald Ingraham yesterday afternoon during the budget debate in the House of Assembly.
Last week, Prime Minister Hubert Ingraham announced tax cuts on 160 food items. Included in that line-up, taxes were eliminated for citrus products, including grapefruits, oranges, tangerines, limes and lemons. Stamp taxes and duties were also eliminated on cereals, spaghetti, bananas and plantains, the PM announced.
Meantime, the 25 percent import duty on watermelons and mangoes will be eliminated, along with the 30 percent import duty on guavas, peaches, frozen vegetables and oatmeal.
This spells bad news for the farming industry, which has steadily declined since the late 1970s, noted the South Eleuthera MP.
In the 1978 agricultural census, there were 4,214 farmers, but by 1994 it dropped to 1,727 and in 2005 the figure had fallen lower to 1,242...."....