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Gov't to present budget this Thursday

Tuesday, April 01, 2014    

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JAMAICANS will on Thursday hear the amount of money Government intends to spend for the Fiscal Year 2014/15.

Minister of Finance and Planning Dr Peter Phillips will table the 2014/15 Estimates of Expenditure in the House of Representatives, which will provide details on what the ministries and agencies will receive for recurrent (house-keeping) and capital (development) expenses.

The Standing Finance Committee of the House will meet from April 8-10 to consider the estimates.

Before the minister tables the estimates, the State Opening of Parliament will take place, where Governor General Sir Patrick Allen will deliver the Throne Speech, in which he will outline the Government's priorities for the new fiscal year, which begins today.

When the finance minister tabled the estimates for the 2013/14 fiscal year, a budget of $520 billion was presented. That figure was, however, revised to $500 billion when the minister tabled the First Supplementary Estimates in February.

The 2014/15 Budget Debate will begin on April 17 in the House, with the Finance Minister making the opening presentation. Dr Phillips will inform the nation how the budget for the fiscal year will be funded.

On April 22, Opposition Spokesman on Finance Audley Shaw will make his contribution to the debate.

There will be presentations by a member of the Government and an Opposition member on April 23. The debate continues on April 24 with Leader of the Opposition Andrew Holness, making his contribution.

Prime Minister Portia Simpson Miller will make her presentation on April 29, while the debate will be closed by the finance minister on April 30.

After the budget debate is completed, other members of the House of Representatives will make their presentations in the Sectoral Debate, which follows.

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