House passes first supplementary estimates
THE House of Representatives last night passed the first supplementary estimates for 2013/14 after some seven hours of deliberation by its Standing Finance Committee.
Opening the debate close to 6:00 pm, Minister of Finance and Planning Dr Peter Phillips noted that, despite several amendments, the reduced budget remains at $500.7 billion, a $20-billion reduction from the original estimates.
“We are determined to live within our means, and if the revenues don’t come, we will have to make adjustments,” Phillips said.
Responding, Opposition spokesman on finance and planning Audley Shaw noted that despite the Government’s best efforts the national debt has now passed the $2-trillion mark, including a US$2.5-billion PetroCaribe Fund. Shaw said he was not satisfied with Phillips’ explanation for the cuts in the budget, suggesting that the Government deliberately reduced spending on critical programmes to achieve targets set by the International Monetary Fund.
The lengthy meeting of the committee pushed back the scheduled sitting of the House of Representatives by three-and-a-half hours, resulting in an adjournment shortly after 7:00 pm.
— Balford Henry
