Saint Lucia’s Prime Minister and Minister for Finance, Hon. Philip J. Pierre, offered his 2025/2026 Budget Address on Thursday, April 24, reaffirming his authorities’s dedication to accountable governance and the well-being of the folks.
In a Finances filled with social assist measures and financial reduction, Prime Minister Pierre made it clear: there will likely be no new taxes this 12 months.
Among the many key initiatives, non permanent lecturers will now obtain their full salaries throughout the month of August—a transfer welcomed by educators throughout the island. In the meantime, the federal government is stepping up assist for college students, with $250,000 allotted to make sure higher entry to female hygiene merchandise in faculties, and a rise in tuition help for nursing college students at Sir Arthur Lewis Group Faculty (SALCC). Nursing college students will now profit from rising tuition assist every year, culminating in full tuition protection by their ultimate 12 months.
Mother and father with younger youngsters may even get a serving to hand. The tutoring subsidy for college students attending privately-owned preschools will double from $50 to $100, and subventions to those faculties will rise from $2,500 to $3,000 per baby.
In an effort to make training extra inexpensive, the federal government will now pay for 2 extra Caribbean Examinations Council (CXC) topics, bringing the overall to 4. College students who left faculty inside the previous 12 months may even be eligible for this profit.
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Past training, the Finances brings vital reduction for pensioners and authorities employees. Pension earnings will likely be tax-free beginning January 1, 2025. Pensioners may even obtain a one-time $600 fee in November 2025, and from July 1, NIC pensions will likely be adjusted based mostly on the price of dwelling. Lengthy-serving cops, firemen, and correctional officers who’re NIC contributors may even be newly eligible for pensions at age 55.
Financial measures have been additionally a part of the combo. The favored Tax Amnesty Program will likely be prolonged till Could 2026, earnings tax deductible allowances will rise from $30,000 to $40,000 for the 2025 tax 12 months, and airport service fees for regional journey will likely be lower in half from June to December. As well as, VAT will likely be faraway from chosen meals objects beginning July 2026.
To encourage digital innovation, companies investing in cybersecurity, AI instruments, or ICT coaching can now declare as much as $50,000 as a tax-deductible expense.
The Prime Minister emphasised that this Finances is about constructing a stronger, fairer Saint Lucia, with insurance policies tailor-made to uplift residents at each stage of life.
“Our authorities continues to make selections that put folks first,” Pierre stated. “We’re constructing a Saint Lucia the place alternative, safety, and dignity can be found to everybody.”
