“The landlord surcharge is not a property tax. It is an income tax.”
That’s according to Minister of Land and Legal Affairs, Saddam Hosein, as he defended Government’s move to implement a ‘Landlord Business Surcharge.’
Speaking during debate on the Appropriation Bill 2026 on Friday, Minister Hosein noted that this tax was nothing close to what the previous administration proposed. He also denied that it will be imposed on the entire population.
“When they were trying to implement the Property Tax, a man who have a residential house, who don’t rent it, they were putting a fake rental value on that house and then assessing your Property Tax on that, you know. That is what they were doing. What we are doing, Mr. Speaker, is a man who actually renting his house, he is going to have to pay the surcharge. You see, Mr. Speaker, they are so accustomed dealing with ghosts that they are thinking about ghost rentals.”
He also addressed concerns over the proposed hike in NIS contributions, noting that it will be minimal.
“Salary of about $1 ,472, Mr. Speaker, their average monthly increase will be $11.70. A person with a salary of about $6,400, Mr. Speaker, their average monthly increase will be $60.24, less than $100. Where someone’s salary increases or goes over $13,000, Mr. Speaker, the employee will have to contribute $136.05. Mr. Speaker, we are a caring, compassionate Government.”
Minister Hosein also accused the previous administration of misusing the Heritage and Stabilisation Fund.
“They dipped their grubby hands in the HSF 12 times, Mr. Speaker. Twelve times. From the period June 30th, 2016 to 30th November 2024, Mr. Speaker, taking out, Mr. Speaker, taking out US$3 billion. $3 billion. And then you all have the gall to tell us about import cover and HSF when you had your hands in a cookie jar for 12 different times.”
The MP for Barataria/San Juan also criticised MP for Diego Martin North East, Colm Imbert, following comments made on wage negotiations earlier this week.
“And if he thinks 2 plus 2 means 9, Mr. Speaker, we now understand why the country is in this place you know, Mr. Speaker. I don’t know what calculator he’s using, Mr. Speaker, but he should pelt it away. Mr. Speaker, but that is why when the UNC wins, the public servants will win because the 10% is on the table.”
As for where the revenue for the 2026 Budget will come from, he told the House: “We will find the money by cutting out all of the ghost gangs and ghost employees that they had employed, Mr. Speaker. We will cut it out by cutting out the corruption, waste, and mismanagement over the last 10 years. We will find the money through the NIF, $1 billion bonds, Mr. Speaker. We will find it through the $40 million in terms of the taxes for luxury vehicles, the $1 billion in the alcohol and tobacco tax.”