‘Dump It!’ – Peterkin On Health & Citizen Security Levy

Economist Richard Peterkin has recalled telling Prime Minister Philip J. Pierre to scrap the country’s 2.5 percent Health & Citizen Security Levy. “I told the Prime Minister, ‘You know what, just dump it. Get rid of it. Phase it out in this budget, and this was my recommendation,” the retired Chartered Accountant disclosed. Asked whether he believed the PM would act on his advice, Peterkin answered negatively. “No. I am a bad advisor,” he chuckled, adding that he was just one person, while Pierre has technocrats and consultants who might decide differently. “But they also get political advice, and they may say, ‘You know what? This is very unpopular because it’s a nuisance and it’s costly. Let’s find a different way of doing it'”, he stated. “In doing so, a Prime Minister has to say, ‘I was wrong. I made a mistake and we’ll take it off.’ We don’t do that in this part of the world,” the retired Chartered Accountant declared. Peterkin spoke Wednesday night during the DBS Television programme Newsmaker Live. He recommended increasing the value-added tax (VAT) on goods and services to fifteen percent from the current 12.5 percent. Peterkin observed that the increase would be unpopular,...