Multimillion pa’anga financial assistance for recovery from TC Harold
Radio & TV Tonga, Nuku’alofa, 25/05/2020
The Government has received 11million pa’anga financial assistance from donor partners for recovery following TC Harold.
The Finance Minister Hon. Tevita Lavemaau told Parliament this morning that the TC Harold damages put a 250 million US dollar dent in the economy, and that is what the government needs for the recovery phase.
While speaking about the government’s plan for the new fiscal year, Lavemaau said he hopes Parliament would approve the bill for every business in Tonga to install a cash register in order to know the amount of tax paid by every consumer as the Minister believes there will be more revenue collected from CT and there are plans in place that by after the next fiscal year the consumption tax will be reduced from 15% to only 12.5%.
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