Instead of the GOJ adding the minimum business tax which will cost businesses $60,000 extra per year. What they should do is add an anti fossil fuel tax for all businesses that can afford to go solar either by purchase of solar system via loans or cash, or by leasing of equipment.
Such a tax should not only involve solar, but all energy saving equipment, and software. It should be a graded tax. Those who consume more fossil based produced energy, should pay a lot more than those who consume less.
Today solar allows for a business to save minimum 20% per month on their energy bill while paying for the loan that financed the system. If they do not qualify for a loan then there are lease options which can also provide the same savings.
So why do they not take up one of these options considering that if they cannot qualify for a loan they can use the lease option of stick with JPS?
It is the local culture regardless of ethnic group or race to wait and see or simply they are adverse in seeing locals make profits where JPS use to dominate, even though solar lease is in their best interest.
One man said why should he make another man rich from a solar lease! Yet that very man is crying about high energy cost and cannot qualify for a PV solar system loan.
These jokers come on the national radio monthly and complain about the high cost of energy. Yet they play hypocrite. So tax them. If they refuse to become competitive, then let the market decide if they remain in business.
It is only evident that the local culture is not yet civilized enough to understand free market economics and the benefits associated with it.
Free market not in the sense of deciding who and when to do business with alone. But free market that there are viable options available for energy, with several options to choose from.
Oil importation runs into the billions. It contributes for a demand of USD. For every rise in the JMD for USD purchase (Ex: $111 to $112 for US$1). The national debt increases by $10 billion.
So large and small business are contributing to a major problem.
Then again this is Jamaica, a 3rd world nation living in a 1st world suit, tie, and driving gas guzzling SUVs.
Welcome to Jamrock.
My next blog article coming soon: “The Negro Only Increases Transaction Cost”. This pertains to doing business in Jamaica and my experience with them primarily.