Finance Minister Colm Imbert says even he is upset with himself for having to reintroduce Property Tax but says the government intends to proceed with it given a loss of $20 billion in revenue.
"I know people don't like to pay property tax. I and all (am) vex with myself because I have to pay the tax too. But we need everybody to contribute to the revenues of the country and this is one of the measures that we have to continue with," the Minister told today's post-Cabinet news conference.
The Employers' Consultative Association (ECA) says more clarification is needed before the Government seeks to implement the property tax.
The ECA has joined other organisations in commenting on the government's move to reintroduce the tax.
The following is the ECA's statement: