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HOW WILL THE PROGRAMMES OF THE JLP MANIFESTO

BE FUNDED?

Direct Funding Strategy

The programmes will be funded by creative and proactive policies that increase revenues by: (a) achieving high levels of economic growth, (b) reducing debt levels and servicing costs, (c) increasing levels of investment and (d) using the available surpluses of government entities.

#1 Identify major investors including international firms who will provide financial, developmental, and operational support for mega-infrastructure programme.

#2 Promote a build-own-operate-transfer (BOOT) basis to fund infrastructure projects under the EARN Plan.

#3 Aggressively continue the thrust (began in the 1980s) to divest ownership/management of non-core state enterprises and use the proceeds to fund select mega-investment projects.

#4 List revenue-generating state enterprises on the Jamaican Stock Exchange raise equity funding.

#5 HOPE will be funded by private participating subscribers.

#6 Projectize the RIDE programme ( Road Improvement and Drainage Expansion) to secure international multilateral financing.

 Indirect Funding Strategy

#7 Secure international multilateral financing for the programme to (UPGRADE) rural communities to accelerate standards .

#8 The National Museum of Jamaica will be funded from the San Jose Accord funds.

#9 Use surpluses of the National Housing Trust (NHT) and multilateral project financing to fund HOUSE (the slum eradication project) and other major housing development initiatives.

#10 Float a long-term, tax free bond aimed at using the proceeds to re-finance existing high cost debt. Use the savings from the refinancing to fund the LEARN (education reform) programme. Any shortfall will be funded from HEART surpluses.

#11 Financing for the WELLNESS Insurance Plan will be provided by a special financing mechanism which is still under discussion. This special scheme will avoid imposing new taxation. The cost of the Plan is $4Billion per annum covering 450,000 poor, vulnerable and elderly (over 60 years old) persons.

#12 Attract investment capital from international sources including Jamaicans based overseas to help refinance debt (through lower cost bonds) and fund the HELPING HAND plan to support the poor and vulnerable.

#13 Re-establish a major bilateral negotiation programme for debt relief by channeling bilateral debt repayments into “strategic areas” such as SECURE, the Crime Reduction Plan.

#14 Create an independent central bank to separate monetary and fiscal policy and set the foundation for higher levels of economic growth.

#15 Introduce legislation to require full backing of the Jamaican currency with foreign exchange reserves to reduce the risk of inflation and currency devaluation.

#16 Eliminate all loans and advances by the Bank of Jamaica to Government to prevent printing of money and keep inflation low.

#17 Restructure the National Investment Bank of Jamaica (NIBJ) to be a proactive central investment bank sourcing international and regional capital to fund both private and public mega-investment projects.

#18 Use effective management to maintain fiscal discipline by controlling expenditure and maximizing revenues.

#19 Review the investment attraction strategy of Jamaica Promotions (JAMPRO) to target high growth sectors.

#20 Provide a range of incentives to attract major investment and revitalize existing businesses.

#21 Use greater incentives to promote the establishment of venture capital funds targeted at high growth sectors. 100% of investment in venture capital funds or related venture capital investments will be treated as an allowable expense.

Change Pain to Gain, the JLP Manifesto for a brighter future, outlines a clear vision and detailed plan to create a peaceful and just society offering reliable access to reasonable job opportunities, quality education, affordable health care, acceptable living and social conditions and a safe, sustainable environment.

Let’s Get to Work!