Prime Minister Gaston Browne is proposing an expansion of the country's windfall tax regime to cover other highly profitable businesses, with revenues earmarked to fund education and support the continued growth of the University of the West Indies Five Islands Campus.
According to Antigua News Room, Browne outlined the proposal during his weekly radio programme on Saturday, arguing that Antigua and Barbuda must identify sustainable financing mechanisms for tertiary education as enrollment rises and government plans for a major campus expansion move forward.
"I believe that those companies that are making significant profits should make a contribution towards education," Browne said.
The prime minister pointed to the existing windfall tax on commercial banks as a model that could be extended to other sectors of the economy posting 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.
Browne was careful to frame the proposal not as a penalty on successful businesses, but as a mechanism to create a dedicated funding stream for education and human resource development. He argued that companies stand to benefit directly from a better-educated workforce and therefore have a stake in supporting institutions that produce skilled graduates.
"We have to find innovative ways to fund education," he said, adding that higher education should be viewed as an investment in national development rather than a government expenditure.
The proposal comes as the UWI Five Islands Campus, which opened in 2019, has experienced rapid growth. Government figures show enrollment has climbed from fewer than 350 students in its early years to nearly 2,000 today. Officials have also outlined plans for significant infrastructure expansion, including new academic buildings, student housing, and supporting facilities.
Browne has consistently described the campus as one of the country's most important national development projects and has pledged continued government support for its growth.
During Saturday's programme, the prime minister argued that investment in education yields long-term economic returns by producing a more skilled workforce capable of driving growth and attracting investment. He said Antigua and Barbuda must continue expanding access to tertiary education while ensuring institutions like UWI Five Islands have the financial resources to meet increasing demand.
The prime minister did not specify which industries could be subject to an expanded windfall tax, nor did he indicate what rate such a levy might carry. He also stopped short of suggesting the government has reached any final decision on the matter.
Browne presented the idea as one of several options under consideration as policymakers explore additional revenue sources to support education and workforce development. Any move to expand the windfall tax would likely require private sector consultation and legislative approval before it could take effect.
For now, the proposal remains at the discussion stage as the government examines how best to fund the next phase of expansion at UWI Five Islands and other educational institutions across Antigua and Barbuda.
