The Antiguan government is weighing an expansion of its Windfall Tax to cover all businesses recording annual profits of at least EC$1 million, as it seeks sustainable funding for education and workforce development.
According to Antigua News Room, the proposal was discussed during this week's Cabinet meeting, where ministers reviewed options for establishing a more reliable revenue stream to support the country's growing education sector.
The Windfall Tax currently stands at 10% and applies only to companies in the telecommunications, banking, insurance and energy sectors that earn profits of EC$1 million or more. Cabinet is now examining whether the tax should be broadened to include profitable businesses across all industries.
The discussion reflects the government's ongoing commitment to tertiary education investment, including continued support for the University of the West Indies Five Islands Campus and the institutions that make up the Antigua and Barbuda College of Advanced Studies (ABCAS).
Officials indicated that expanding access to higher education — alongside increased spending on facilities, programmes and student opportunities — demands a dependable long-term funding mechanism.
Cabinet described the proposed tax expansion as one of several options under consideration to generate additional revenue for educational development. Further discussions are expected, with officials paying close attention to the legal, economic and social implications of any potential changes.
Any amendment to the existing tax framework would require parliamentary approval.
The government stated that it remains committed to ensuring economic growth benefits the broader population, with education continuing to serve as a central national priority.
