Economist Concerned about High Level of Taxes

Photo Credit : customstoday.com.pk

Photo Credit :customstoday.com.pk

An economist has expressed concern about the level of taxes people are paying in Montserrat and other small island states in the Caribbean.

Peter Queeley, a trained financial analyst says the reliance by governments on personal income tax to fund government operations is a flawed fiscal policy.

Mr. Queeley, in giving an assessment of the government’s 2018 budget, noted that revenue from Income Tax is set to increase to 15 million dollars this year.

He says Personal Income Tax takes reduces discretionary spending which negatively affects an already depressed economy