Government Launches Construction Stimulus Package (St Lucia News)
Government Launches Construction Stimulus Package
by Shalan St. Hill
All duties and taxes on selected items related to the construction of homes and commercial buildings will be removed, as The Construction Stimulus Package announced by the Prime Minister during his 2012/2013 Budget will be implemented on August 8, 2012.
That package Dr. Anthony believes will create much needed jobs in the construction sector, thereby stimulating the economy in the short term.
Jadia Jn. Pierre Emmanuels is the Governemnt Press Secretary.
She says Government Officials have met with members of the Chamber of Commerce, suppliers and retailers in the construction sector to discuss the package.
“It is expected that the prices to consumers for these goods will be reduced. Further relief for consumers include the removal of stamp duty and loans for residential and commercial mortgages. Through consultation with representatives at last weeks meeting it was agreed that the best approach to the successful implementation of the package so as to allow consumers to realize the immediate benefit of reduced prices would be to refund suppliers and retailers of building materials the duties paid on building supplies listed in the Stimulus Package, which are currently in stock”
All Suppliers/Retailers of basic building materials such as sand, cement, lumber and paints and other building supplies are asked to contact the Customs Department’s warehousing section as soon as possible, in order to schedule a stock verification appointment.