The Government says it notes the comments from GSD Opposition spokesman Roy Clinton on the Tax Bill published following the Budget announcement by the Minister for Taxation, Nigel Feetham.

Commenting on the GSD press release Minister Feetham said:

“We will have plenty of time to debate the Bill when it is presented in Parliament. There is no point in arguing by press release on the technical aspects of the Bill as this would be beyond the comprehension of the large majority of people. We will do so in Parliament.

“The Hon Mr. Clinton accuses the Government of effectively raising cash through tax to meet expenditure including in the public sector, education and health. Every tax is inherently aimed at raising revenues for the greater good, and this Tax Bill is no different.

“Paradoxically, the GSD Opposition wants to increase taxes on ordinary people and oppose taxing those who have a greater ability to pay. The Opposition is also effectively protecting the interests of substantial property-owners at the expense of the wider community.

“This Tax Bill is crafted with the intent that property ownership in Gibraltar benefits the many, not just the few. It ensures that those who benefit most financially from our property market contribute proportionately to tax revenues and the welfare of our community.

“The Bill captures profits generated from the sale of multiple property ownership (3 or more), and specifically exempts primary residences. By doing so, it protects ordinary homeowners while ensuring that those who make substantial profits from the property market contribute their fair share.

“The real measure of this Bill’s success is not just the support it receives from politicians but how it is viewed by the public. I have no doubt that the overwhelming majority of our citizens support this Bill and recognise its fairness and necessity.

“We look forward to a thorough and informed debate in Parliament where the merits of the Bill can be fully discussed and understood.”