Following the economic devastation of Hurricane Melissa, the Jamaican government has introduced £154 million ($29.4 billion) in new taxes to stabilise the national budget. These fiscal measures target sweetened drinks, tobacco, and alcohol, while also increasing the General Consumption Tax on tourism and the Environmental Protection Levy. The report highlights how these changes may reduce disposable income for households, potentially delaying essential property repairs and improvements. Additionally, the rising costs of imports and transport are expected to impact construction logistics and the affordability of entry-level housing. Ultimately, while the policy aims for fiscal resilience, experts warn it could squeeze profit margins for small-scale rental operators and slow activity in the real estate market.
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