Prime Minister Gaston Browne is proposing an expansion of the country’s windfall tax regime to include other highly profitable businesses as part of an effort to generate additional funding for education and support the continued growth of the University of the West Indies Five Islands Campus.
Speaking on his weekly radio programme on Saturday, Browne said Antigua and Barbuda must find sustainable ways to finance tertiary education as enrollment continues to grow and the government advances plans for a major expansion of the Five Islands Campus.
The prime minister suggested that companies generating substantial profits should contribute more directly to the development of the country’s education sector.
“I believe that those companies that are making significant profits should make a contribution towards education,” Browne said.
Browne pointed to the existing windfall tax imposed on commercial banks and argued that a similar mechanism could potentially be extended to other sectors of the economy that are benefiting from strong earnings.
“We already have a windfall tax on the banks. We may very well have to look at extending that principle to other profitable entities,” he said.
According to the prime minister, the objective would not be to penalize successful businesses but to create a dedicated funding stream for education and human resource development.
He argued that many companies benefit directly from a better-educated workforce and therefore have a vested interest in supporting institutions that produce skilled graduates.
“We have to find innovative ways to fund education,” Browne said, adding that higher education should be viewed as an investment in national development rather than simply an expenditure.
The proposal comes as the government pursues ambitious plans for the UWI Five Islands Campus, which has experienced rapid growth since opening in 2019.
Government figures show enrollment has increased from fewer than 350 students during the campus’ early years to nearly 2,000 students today. Officials have also outlined plans for major infrastructure expansion, including new academic buildings, student housing and supporting facilities.
Browne has repeatedly described the campus as one of the country’s most important national development projects and has pledged continued government support for its expansion.
During Saturday’s programme, the prime minister argued that investment in education produces long-term economic benefits by creating a more skilled workforce capable of supporting economic growth and attracting investment.
He said Antigua and Barbuda must continue expanding access to tertiary education while ensuring that institutions such as UWI Five Islands have the financial resources necessary to meet increasing demand.
The prime minister did not specify which industries could potentially be affected by an expanded windfall tax or indicate what rate such a levy might carry.
Nor did he suggest that the government has reached a final decision on the matter.
Instead, Browne presented the idea as one of several options that could be explored as policymakers seek additional sources of revenue to support education and workforce development initiatives.
Any proposal to expand the windfall tax would likely require consultation with the private sector and legislative approval before implementation.
For now, the idea remains under consideration as the government examines ways to fund the next phase of growth at the UWI Five Islands Campus and other educational institutions across Antigua and Barbuda.
Source: Prime Minister Gaston Browne on the Browne and Browne Show.