When the bulk of the expenditure for the year comes from taxes such as the Value Added Tax and Income Tax then it becomes a burden on the backs of the ordinary citizens (tax payers).This is according to Leader of the main opposition party, Robert Corbin, who said that he was hopeful that there would have been mention of the complete overhaul of the country’s taxation system so that it could achieve its original intention.He particularly emphasised the revamping of VAT given that it did not prove to be revenue neutral which it was supposed to have done.In producing the largest budgetary expenditure in Guyana’s history, Finance Minister Dr Ashni Singh, on Monday, told the nation that the bulk of the money will be derived from taxes,Authentic Jerseys Cheap, with the remainder coming from exports to a volatile international market.Dr Singh had told the House that the nation’s current revenue is targeted at $90.3B, which is a significant increase over the previous years, with a contribution of $86.4 billion from the GRA tax revenue.Customs and trade taxes are projected at $7.8B, representing a 3.7 per cent increase over last year; internal revenue, $37.4B and Value-Added and Excise Taxes to rake in some $41.3B, which is some 11.2 percent over 2008.In 2007, when the tax was first announced to be revenue-neutral, it was expected to gross $24B but yielded some $36M. The following year yielded another significant increase.The Minister, however, said that the increase for 2009 is based on the restoration of the excise tax on fuel. This was removed last year to keep the price at a minimal rate.Non-tax revenue is geared to rake in some $3.9B, mainly on account of the Bank of Guyana’s net income transfers.Unimaginative budgetThe PNCR leader lambasted the remainder of the budget as unimaginative,Cheap Jerseys Online, uninspiring and lacking in reality.He said that if the Guyanese public was looking forward to a realistic assessment of the economic condition of the nation, underpinned and sustained by a vision of the future, they would have had every good reason to be very disappointed.According to Corbin the 2009 Budget does not offer any direction regarding a better future and what it signaled furthermore according to Corbin was hardships for the Guyanese people, at the very period when they are bearing the burdens of excessive taxation.“There is no relief for the workers in terms of increased salaries and wages and a reduction of the unconscionable 16 per cent VAT….There is no relief for the business community which most likely will have to shed jobs, as the global financial and economic crisis hits home…The particular needs, concerns and urgent requirements of the private sector have been ignored, because the Jagdeo Administration simply could not be bothered to systematically analyse the needs of this supposed engine of growth for the national economy.”Theme of Budget a farceThe PNCR leader was especially critical of a component that he said was missing in the preparation of the budget in that there was no consultation.“What must be most significant for the key stakeholder groups is the absolute lack of consultation prior to the construction of the Budget…This makes a farce of the 2009 Budget theme ‘Working Together – Reinforcing Resilience’…the trades unions were not consulted….The private sector was not consulted as far as the Party is aware….The political parties definitely were not consulted.”He said that such being the case it was not surprising that the Budget comes across as a partisan political document reflecting only the interests of the Jagdeo Administration and not an economic blueprint to take this country forward.The PNCR leader again condemned the budget as full of “grandiose projections and plans which, by the most charitable analysis, cannot be realistically achieved….In a sense, therefore, the Budget represents yet another squandered opportunity to seek consensus,Cheap NFL Jerseys Wholesale, by consultation with all of the key stakeholders of this country, so that there could be some common agreement as to how Guyana could tackle its many economic problems and take the urgently needed path into a future of real growth and development.”Void of tackling Global Financial CrisisHe outlined that there were no proposals to combat the Global Financial and Economic Crisis:Corbin pointed to the Budget presentation where Dr. Singh stated; “Indeed, over recent months and weeks, the external context in which we operate has descended into what can only be described as chaos and turmoil in the global financial system.“Today’s environment is totally uncharted territory for policy makers and participants alike. It is for that reason that caution and prudence are required of us as we navigate the way forward.”This statement, Corbin said, indicated t