Govt lost $240 million in revenue after reducing VAT from 15% to 9% in 2016 - Sayed-Khaiyum

Minister for Economy and FijiFirst General Secretary Aiyaz Sayed‑Khaiyum says the government lost $240 million in revenue after reducing VAT from 15% to 9% in 2016.

While debating NFP Leader Professor Biman Prasad on Straight Talk, Sayed‑Khaiyum says that people just do not live on six items alone.

Sayed‑Khaiyum says that they are a government that is constantly looking at bringing new ideas and that is why they also had to impose 9 percent VAT on the zero VAT items.

Sayed‑Khaiyum says VAT is not the only way to calculate cost of living.

Professor Prasad says NFP will remove VAT from 15 items adding

they will announce the 15 items when they release their manifesto.

Prasad also told Sayed‑Khaiyum to not teach him economics.

He says NFP will continue some of the social policies that the government has.