{"id":26398,"date":"2025-02-09T00:48:45","date_gmt":"2025-02-09T00:48:45","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=26398"},"modified":"2025-02-09T00:48:45","modified_gmt":"2025-02-09T00:48:45","slug":"prime-minister-mark-phillips-describes-2025-budget-as-people-centered","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/prime-minister-mark-phillips-describes-2025-budget-as-people-centered\/","title":{"rendered":"Prime Minister Mark Phillips Describes 2025 Budget as \u2018People-Centered\u2019"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p><em>By Celestine Chacon, January 18, 2025<\/em><\/p>\n\n\n\n<p>Prime Minister Mark Phillips has praised the 2025 national budget, valued at 1.382 trillion dollars, calling it a &#8220;people-centered&#8221; initiative aimed at improving the well-being of ordinary citizens. <\/p>\n\n\n\n<p>Speaking on the budget, the Prime Minister dismissed opposition claims that the budgetary measures were politically motivated, emphasizing that the allocations reflect a continuation of the government&#8217;s manifesto promises that have been in progress since 2020.<\/p>\n\n\n\n<p>The Prime Minister highlighted several key features of the budget, particularly the focus on taxation reforms. <\/p>\n\n\n\n<p>These reforms are designed to increase disposable income for Guyanese citizens. <\/p>\n\n\n\n<p>Notably, the income tax threshold has been raised to G$130,000 per month, and the Pay As You Earn (PAYE) tax rate has been reduced from 28% to 25%. <\/p>\n\n\n\n<p>These changes, along with other allowances and incentives, are expected to give citizens more money to spend while maintaining policies aimed at controlling inflation.<\/p>\n\n\n\n<p>A significant part of the budget also addresses the needs of those eligible for the National Insurance Scheme (NIS) pension but who have not met the required contribution thresholds. <\/p>\n\n\n\n<p>A G$10 billion allocation has been made to provide support for these individuals, helping to alleviate financial pressures.<\/p>\n\n\n\n<p>Prime Minister Phillips reiterated that the measures in the 2025 budget are designed to deliver tangible benefits to the people of Guyana, reflecting the government&#8217;s ongoing commitment to improving the lives of its citizens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Celestine Chacon, January 18, 2025 Prime Minister Mark Phillips has praised the 2025 national budget, valued at 1.382 trillion dollars, calling it a &#8220;people-centered&#8221; initiative aimed at improving the&hellip;<\/p>\n","protected":false},"author":4,"featured_media":25225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[350],"tags":[],"class_list":["post-26398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=26398"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26398\/revisions"}],"predecessor-version":[{"id":26399,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26398\/revisions\/26399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/25225"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=26398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=26398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=26398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}