By Anthony Bwalya
On Friday last week, the UPND ran the first Pay As You Earn (PAYE) tax reform simulation.
Our intention and expectation was to deliver tax incentives higher than the rate of inflation, for individuals in the formal employment bracket.
After our initial modelling, the proposed tax reform changes managed to yield an expected average increase in wages of 14%, with the lowest expected increase being 7% while the highest expected increase being 29%.
We continue to look at the new model for maximum benefits to the Zambian people.
With the cost of the basic food basket now in the region of K7,300 per month for a family of Six (6), these measures will not only help individuals and households cushion household poverty, but also expand access to basic public services such as health and education; as well as expected to spur economywide spending, savings and investments.
This is further, alongside other monetary policy interventions being considered, expected to reduce the cost of money, expand access to capital for SMEs and catalyze organic job creation.
Countrymen and women, good public leadership can transform all our lives for the better.
The UPND remains committed to delivering the change we all need.