The Prime Minister disclosed that the government will increase the property tax rate on properties valued at $3 million or more and implement a novel 10% excise tax on alcohol, tobacco, and cannabis products, dubbed a “sin tax”.

He also said that these measures will include reducing tax concessions granted, especially discretionary exemptions. The Prime Minister said that the government recognizes that concessions and tax incentives are required to encourage investments in new projects and major commercial expansions.

“We will continue to provide these concessions as required and in accordance with the Antigua and Barbuda Investment Authority (ABIA) Act and the Small Business Development Act.  However, for ongoing routine business operations to include consumables these concessions will be discontinued”, the prime minister said.

The Ministry of Education, Creative Industries and Innovations receives the lion's share of the budget at $198.6 Million. The Prime Minister’s Ministry and the Ministry of Finance and Public-Private Partnerships received $177.7 Million, while the Ministry of Health, Wellness, Social Transformation and the Environment was allocated $160.5 Million.