‘There has to be some pain’ – Economist Joe Jackson defends new mining tax in 2025 Budget

Dalex Finance CEO Joe Jackson has defended the new mining tax introduced in the 2025 budget, stating that economic recovery requires shared sacrifices.

Speaking on Joy News’ PM Express Business Edition, he emphasized that there is no painless way out of the country’s financial difficulties and that taxation is necessary. He acknowledged public discontent over previous levies but stressed that removing them created a revenue gap that must be addressed.

The mining sector was targeted because it earns in foreign currency and remains stable compared to other industries struggling with inflation and depreciation.

While he expects pushback from industry players, Jackson argued that some sectors are better positioned to absorb additional taxation. He maintained that the measure is about economic survival rather than fairness, urging collective responsibility in overcoming the crisis.