“We will not allow price gouging to take place,” were the words of Prime Minister, Hon. Dr. Timothy Harris when he addressed the Nation this week.
Dr. Harris told listeners to ZIZ Radio that Value Added Tax [VAT] will be removed from certain items and services this month. He said however, that residents should benefit from the VAT savings.
“The government intends that every bit of savings that ought to have been generated from the exemption of VAT from food, and medicine and funeral expenses; that those savings must be passed on to you,” Dr. Harris said.
He continued, “I had directed that the Financial Secretary, along with the head of the Consumer Affairs Department, along with the head of Customs and the head of Inland Revenue should meet and come together and discuss how we are going to use the network of the government system to ensure that you are not denied and that the full benefits of the promise we made to you that you enjoy the fruits of your Unity Government.”
Dr. Harris revealed that business places are involved in the process. He assured the public that his government will not allow price gouging to occur.
“I should say to you equally that that committee has since met with representatives of the food industry in particular, and I should say food and distribution, leadership of RAMS for example, Best Buy and the Chinese supermarket to get them to understand that this is serious business and we do not want them to mark up their goods unduly so that the benefit to you, it would be lost. We have warned them that the government will do all in its power to ensure it does not happen,” he said.