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Budget Speech was about vision not 'pie in the sky' ideas - Premier Fahie

- says Gov't remains serious about VI's prudent financial management
With the 2020 Budget speech promising a myriad of economic diversification projects such as gaming, medical marijuana, drag racing and financial technology in the Virgin Islands (VI), Premier and Minister of Finance, Hon Andrew A. Fahie (R1) says his speech was never about the figures, rather about the accompanying vision. Photo: VINO/File
According to Premier and Minister of Finance, Hon Andrew A. Fahie (R1) getting the 2020 Budget passed in record time and bringing the Territory up to date with the 2012 Protocols for Effective Financial management (PEFM) shows his government is serious about prudent financial management and getting on with the business of the people. Photo: VINO/File
According to Premier and Minister of Finance, Hon Andrew A. Fahie (R1) getting the 2020 Budget passed in record time and bringing the Territory up to date with the 2012 Protocols for Effective Financial management (PEFM) shows his government is serious about prudent financial management and getting on with the business of the people. Photo: VINO/File
Premier and Minister of Finance, Hon Andrew A. Fahie (R1), right, with Mr Claude O. Skelton-Cline on 'Honestly Speaking' on ZBVI 780 AM on January 7, 2020. Photo: Facebook
Premier and Minister of Finance, Hon Andrew A. Fahie (R1), right, with Mr Claude O. Skelton-Cline on 'Honestly Speaking' on ZBVI 780 AM on January 7, 2020. Photo: Facebook
BAUGHERS BAY, Tortola, VI - With the 2020 Budget Speech promising a myriad of economic diversification projects such as gaming, medical marijuana, drag racing and financial technology in the Virgin Islands (VI), Premier and Minister of Finance, Hon Andrew A. Fahie (R1) says his speech was never about the figures, rather about the accompanying vision.

The Premier made these sentiments on Tuesday, January 7, 2020 when he sat down with 'Honestly Speaking' radio host Mr Claude O. Skelton-Cline on public Radio ZBVI 780 AM to speak on several plans that his government will be embarking on and to bring clarity on existing projects being implemented in 2020.

Promises not a 'Pie in the Sky' - Hon Fahie 

'When people hear the Budget Speech, some say it was a pie in the sky. The Budget Speech was not about figures, it was about vision... a vision about of how do we move into the new BVI where we all have a stake in it,' Hon Fahie said. 

According to the Premier, part of the reason certain aspect of the Budget Speech may seem unattainable is due to VI's historical economic generators.

"For our people now, seeing our economy mostly being financial services and [how] it has done us well, they have not been directly involved. So when they see certain things happening, they are unconcerned—some of them—and we have to make sure now everyone is concerned," he said.

Premier Fahie noted that getting the 2020 Budget passed in the same year as the earlier transitional budget was a heavy feat; however, he made it happen with the help of the Finance team despite critics going against the idea.

"When we were doing it I made a promise with my team that we will get the next budget passed in record time before 2020 begins, and I made a statement that we would get it passed by December 15th," he said.

Hon Fahie continued, "I always believe that once you set goals and you work hard towards them and they meet the favour of God, you will get them achieved."

VI was in Violation of Financial Management Act - Hon Fahie 

And even while praising the accomplishment of passing two budgets 10 months apart, Premier Fahie lamented that when the Virgin Islands Party (VIP) Government took office in February 2019, the Territory was in violation of the 2012 Protocols for Effective Financial management (PEFM). 

According to Hon Fahie, $26.9M had to be placed in the Reserve Fund to take the VI out of violation, "That was a challenge... to be putting that into the reserves at a time when people still needed their roofs repaired," he said.

The Leader of Government Business noted; however, that getting the 2020 Budget passed in record time and bringing the Territory up to date with the PEFM showed his government is serious about prudent financial management and getting on with the business of the people.

6 Responses to “Budget Speech was about vision not 'pie in the sky' ideas - Premier Fahie”

  • great (08/01/2020, 12:32) Like (27) Dislike (3) Reply
    Great job premier
  • ok (08/01/2020, 12:33) Like (17) Dislike (7) Reply
    I like how this government is going thus far.
  • vex (08/01/2020, 13:34) Like (17) Dislike (4) Reply
    Say one say two Fahie looking out for we
  • Diaspora (08/01/2020, 15:21) Like (7) Dislike (27) Reply
    Budget speech either by the crown or government is a waste paper and air time; it is just a talk fest. Instead, ghe government just needs to develop the budget and bring it to the HOA for debate line item by line item. In fact government needs to go to a zero-based budget system. Furthermore, after the budget is approved by the HOA, expenditures over a certain dollar value, ie, $100K needs to go back to the HOA for debate and appropriation. If this feature was in place, the $7.2M expenditure flinged by NDP at BVI Airways, a bruk airline with a storied history and challenges staying airborne, may not have happened; when are taxpayers going to get a full accounting of this expenditure? The EE/LL $8M sewage project may not have been shifted to the Tortola Pier Park. Sewage still running in the street up east. Additionally, fix-term/date for election needs to be set; this action will stabilize the budget process. The UK has fix term election, the 1st Thursday in May every 5 years. There are two exceptions for an early election: 1. A successful no confidence vote or 2. A 2/3 vote by the House of Common. A business plan is needed; well, a national development plan.
  • Strupes (08/01/2020, 16:41) Like (3) Dislike (13) Reply
    pyour fluff
  • 4 more years (08/01/2020, 16:55) Like (18) Dislike (3) Reply
    Fahie they can’t hold you


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