Independent Fiscal Commission (Act) to takes effect New Year’s Day

The Commission will monitor Jamaica’s fiscal responsibility laws and aims to enhance public understanding of fiscal policy through reports and analyses aligned with the budget cycle.

Mr. Courtney Williams, a fiscal economist, was appointed as Jamaica's first Fiscal Commissioner in March 2023. He will play a vital role in providing independent assessments of budgetary outcomes and fiscal developments.

The Fiscal Advisory Committee has also been formed, comprising five members from various sectors, including civil society, academia, the private sector, and trade unions. This diverse representation is intended to foster comprehensive dialogue around fiscal policy.

Additionally, the recent launch of the UWI Fiscal Research Centre, funded by a J$200 million endowment from the Government of Jamaica, underscores the importance of robust research in supporting the Commission's work.

Together with the independent Central Bank, these entities are crucial to strengthening Jamaica’s economic framework.

Outgoing Finance Minister Dr Nigel Clarke said: “The Independent Fiscal Commission is the guardian and interpreter of Jamaica’s fiscal rules and is required to provide independent assessments of budgetary outcomes, in addition to independent fiscal analysis. The Commissioner will provide an informed second opinion on fiscal developments and is expected to play a constructive role in informing the public and, in so doing, incentivising adherence to Jamaica’s fiscal rules.”
 
Governor General Sir Patrick Linton Allen has appointed the following five persons to serve on the Fiscal Advisory Committee:

• Mr. Keith Duncan – CEO of JMMB Group, Chairman
• Ms. Nancy Pinchas – Executive Director, Council for Voluntary Social Services, Representative of Civil Society
• Dr. Patrice Whitely – Head of Department of Economics, Representative of Academia
• Mr. Kareem Tomlinson – Managing Director of GK Capital Management, Representative of the private sector
• Mrs. Helene Davis-Whyte – Former President of the Jamaica Confederation of Trade Unions, Representative of the unions