THE EDITOR, Sir:
IN SUPPORT of Mr. Golding's Letter to the editor ("That five-year D&G tax break") in The Gleaner of Tuesday, November 20, 2001. Once again Mr. Davies and the PNP have proven their ineptitude in finance. Why would you give a $2b tax break in return for a $1.5b investment unless there are some inherent benefits that the nation will derive from this? D&G is now a foreign-owned entity competing with local breweries for market share. Profits and revenues generated by D&G is not guaranteed to stay in Jamaica.
Benefits therefore goes to D&G in this deal.
This $1.5b investment will be financed with profits made here in Jamaica; not a loan from a Jamaican bank, and as such there is no money to be made off this deal. Benefits go to D&G again. We are not aware of any profit-sharing deals between the government and D&G and we will assume there is none until the Government states otherwise. Benefits go to D&G, loss to the public.
How can we justify giving public financial handouts to the likes of D&G and Cable and Wireless while borrowing money to finance our budget?
I am etc.,
ROHAN D. REID
rdreid1@aol.com
Via Go-Jamaica
