Headlines:
| Fall off in revenues could increase – Chung |
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| Friday, 05 February 2010 | |
 Dennis Chung. It was reported last week that inflows into the country's coffers had dipped by $26 billion up to the end of December. But despite the increase in taxes last month, Mr. Chung says the gap in the budget will still expand. "The fact that we're going to be taking $61 million out of the economy and already we've seen that the tax package has had a negative impact on the economy, I think revenue will be off target by about $30 million for this year and that is before the effect of the $21 billion tax package," he said. As a result, Mr. Chung has expressed doubt that the government can comfortably meet the revenue targets outlined in the economic plan which it presented to the International Monetary Fund. |