Finance Minister, Larry Howai

There will not be any sudden increase to fuel prices, this conformation from Finance Minister, Larry Howai, who on Monday will present the national budget statement in Parliament.

However, there will be tax reform, new legislation that will enable a phased return of the land and building taxes.

Speaking with reporters at an event at the National Gas Company compound, Pt Lisas on Saturday, Mr. Howai said the big issue for the government was updating of the property rules, the valuations, so all properties of similar types will be properly valued.

Parliament new temp one

He said that processed needed to start.

Mr. Howai said the difference between this new proposed system and what had been proposed by the People’s National Movement in 2009/2010 was the issue of the rate and consultation.

The People’s Partnership Government during the lead-up to the 2010 general elections campaign on an “Axe the Tax” platform.