Attorney-General and Minister for Industry and Trade, Aiyaz Sayed-Khaiyum. Photo: Jona Konataci
RANOBA BAOA
SUVA
Consistent Government policies is what shapes economic prosperity and further opportunities said, Attorney-General and Minister for Industry and Trade Aiyaz Sayed-Khaiyum.
Addressing the business community and government officials at a recent launch, Mr Sayed-Khaiyum said only a business would know too well what this meant.
Confidence
“As an exporter, as a business person, as manufacturer that you will have confidence in the economy if you know that the policies are not going to change next year or even five years afterwards.
“Because that helps you plan your business. That helps you plan and negotiate…helps you to be able to project and create jobs,” he said during the launch of the Westpac Prime Minister’s Exporter of the Year Awards.
“The economic success that we are doing now has come about because of the consistency in policies,” Mr Sayed-Khaiyum said.
“If we have another four to eight years of this consistency in policies Fiji will have limitless opportunities and prosperity.”
Reduction
He was responding to promises a political party to reduce VAT (Value Added Tax) from 15 per cent to 10 per cent if it wins September general elections.
Mr Sayed-Khaiyum said, financially, this would see a drastic decrease in Government revenue by 33.33 per cent.
“That’s a massive cut and obviously that’s going to be made up from somewhere.
“Are they going to increase corporate taxes, are they going to increase personal taxes, are they going to increase tariffs?”
Neigbouring countries, Australia and New Zealand and others Fiji looks up to are enjoying as much prosperity given their stable and consistent policies, he added.
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