President of the Jamaica Chamber of Commerce, Mark Myers. - File

The Jamaica Chamber of Commerce (JCC) yesterday reiterated its annual list of anticipated policy changes and actions, saying it wanted accountability from the administration that has control of Jamaica House after the August 27 national polls.

The chamber's priority list also covered tax reform, infrastructure development, reduced bureaucracy, improving the trust level between Government and private sector, a declaration of war on crime, restoration of family life and values, improving management and accountability, and tackling of unemployment among its eight priorities.

Speaking at the JCC headquarters in Kingston, president Mark Myers said the business community was anxious to see the country's economy grow by at least six or seven per cent and that only a private and public sector partnership could achieve this.

One of his more radical proposals, which relates to the Finance Ministry, suggests sanctions for missed budget targets. The office holder of Minister of Finance should operate like a chief financial officer in a corporation, said the JCC president.

"Such an organisational structure would demand a much greater level of accountability over expenditure," said Myers.

"Budget forecasts need to be accurate, and there needs to be clear consequences when the nation's fiscal targets are missed."

Income tax priority

The trade association also wants parity between corporate and personal income tax, saying they should both be at 25 per cent with a commitment to reduce the rate to 20 per cent or lower in three years.

Myers, the franchise operator of the local KFC chain, also reiterated a demand for withholding tax on dividends to be applicable to private companies, and not only those publicly listed on the stock exchange; elimination of the customs user fee; and restructuring of the General Consumption Tax.

It is not the first time that the JCC has put forward its expectations to the Government, but has held limited sway over policy directions.

Myers said, however, that he was counting on the next administration, whether led by Portia Simpson Miller or Bruce Golding, to give the business community more clout in the decision-making process, and if not, the JCC was prepared this time to change tactics if its voice failed to resonate with the politicians.

He did not say, however, what the group was prepared to do, but signalled its members were unlikely to hold back on campaign donations.

susan.gordon@gleanerjm.com