Bark Di Trute!: Prime Minister Holness Says Lifting Citizens out of Poverty Requires Economic Stability and Strategic Investments

Press Release From The Office of The Prime Minister - 20241015

Prime Minister Dr. Andrew Holness has emphasized the government's commitment to lifting Jamaicans out of poverty, enabling them to achieve their aspirations.
Prime Minister Holness says lifting people from poverty is intrinsically linked to the government’s focus on creating a stable economy and fostering good governance, which are crucial to aid in addressing the needs of the people.
Speaking last Thursday (October 10) at the grand opening of the new Courts store in Drax Hall, St. Ann, Prime Minister Holness underscored the importance of aligning Jamaica’s economic framework with the everyday aspirations of its citizens, particularly those seeking to move into the middle class.
“We want people to step up in life. If stepping up means buying a bigger fridge or being able to send their children to school easier, that is prosperity,” the Prime Minister declared. He continued, “We are not afraid of being aspirational, but those aspirations cannot be fulfilled without having a solid economy.”
The Prime Minister addressed the public sentiment of doubt that often surrounds large-scale economic discussions, highlighting the connection between macroeconomic stability and the daily needs of Jamaicans.
“There is a sense in Jamaica that somehow we must not aspire. That we must not appreciate the driving urge inside of us to achieve better,” he said. “How do we connect these macroeconomic variables to the urgent needs of the people? Without correcting these, you won’t achieve the things you complain about, and you will end up in a cycle of unfulfilled promises.”
Importantly, Prime Minister Holness pointed out the transformative role of the government’s policies in creating an enabling environment for investments in Jamaica, citing the steady reduction of public debt, stable inflation rates, and consistent employment growth. The country's unemployment has dropped from 13% to 4.2% in the last decade, marking Jamaica’s achievement of full employment.
“Jamaica is not the same place it was ten years ago. More people have income, more people are aspirational, and this makes Jamaica a prime destination for investors,” Prime Minister Holness said. He further highlighted that Jamaica is the only country in the Caribbean with a free-floating exchange rate, ensuring a stable and predictable economic environment for investors. The Prime Minister noted that this economic stability, coupled with nine consecutive budgets without new taxes, is attracting major international brands like Courts to invest in Jamaica and create more opportunities for its citizens.
The Prime Minister also stressed that the dividends of these foreign direct investments will be reinvested into the people of Jamaica.
“Rest assured, the dividends from good economic management will be reinvested in the people in tangible ways. That is why we implemented initiatives like the reverse tax credit for those earning less than $3 million per year—ensuring that the benefits of good governance and a stable economy reach those who need it most,” he said.
Prime Minister Holness reinforced the government’s long-term vision of building a prosperous society by elevating individuals from poverty and creating a better life for them and their families.
The opening of the Courts Drax Hall store stands as a symbol of the economic growth and opportunities that Jamaica is poised to continue attracting, further reinforcing the administration’s focus on delivering prosperity to all Jamaicans.

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