2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 102

assorted fiscal pressures that we face in 2018/19 and beyond
and meet the deficit targets each year. As a core component
of that strategy are – as mentioned earlier – a number of
enhanced revenue measures in the form of an increase in
taxes and fees – and enhanced revenue collection efforts -
targeting critically needed new revenue. The incremental
revenue gains will permit execution of the government’s
three-year fiscal plan as follows:
• In year one: we will pay off over $170 million in old
bills and finally budget properly for current known
commitments;
• In year two: we will pay off over $100 million in
additional arrears and begin to implement reductions in
Customs and excise duties to rebalance the tax burden
between the provision of goods and services and reduce
the attendant distortionary impacts; and
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