With consumers hurting at the pumps after 10 consecutive weeks of fuel price increases, will the government consider a reduction in the Ad Valorem tax to ease the pains of the consumer?
Flashback to almost a year ago- March 15, 2011
Dr. Davies says “This tax windfall now being reaped by the Government is counterproductive and unconscionable. The extraction of this unplanned additional amount from individuals and businesses, via the uncapped ad valorem tax, is further contracting aggregate demand and contributing to worsening unemployment and poverty.”
The report further stated.
The Opposition is calling on the Government to examine this matter without delay, and to implement an appropriate cap on the ad valorem fuel tax that is consistent with fiscal targets while avoiding further economic and social dislocation.