Christmas spending tightens as tax axe falls
Published: Wednesday | December 23, 2009
With the global recession already causing persons to tighten their belts, there could be further shaving down of budgets this Christmas, due to the announcement of a new tax package.
When The Gleaner took to the streets on Monday, several persons voiced their concerns about the major effect the tax package, slated to take effect on January 1, will have on the Christmas. They said their only option is to restrict their spending in an effort to save for the new year.
But even though Prime Minister Bruce Golding, in a statement from Jamaica House on Sunday, said he would reconsider the tax package, which has been met with almost universal criticism, some persons still fear the worst.
Bracing for increases
Andrea Grant, a vendor in downtown Kingston, said she would be buying less for her family for the festive season.
"I am bracing myself for the new prices because it will be rough. I am worried about my children's schooling and also the bills, so I have to be careful when preparing for the holiday," she said.
"I will also be buying excess food and other essential items to serve us for a while in the new year, so I won't have the money to do the big shopping for Christmas," Grant added.
"I am out of the gift buying this Christmas, and I am only planning to bake one cake this year," argued 45-year-old Deon Douglas, a conductress at the Jamaica Urban Transit Company Limited, as she listed the items she will be scaling down on for the Christmas.
Take responsibility
She said this holiday would be unlike all others, as it was usually a time when she would get even her neighbours involved in the celebration.
Douglas encouraged persons to take responsibility when shopping this Christmas as they will need the extra money next year.
Mathematics specialist at the Ministry of Education, Rodney Walker, said some of his leisure activities would be restricted as he tries to cut back on his expenses.
"I usually play a little pool and video games, so I might cut back on those for the Christmas," he noted.
However, Walker said he was not willing to cut expenses that will affect his children's happiness for the festive season.
nadisha.hunter@gleanerjm.com