Cabinet approves 2019 Budget
The annual estimates of expenditure will be presented to the full House of Assembly (HoA), on April 2, 2019, when Premier and Minister of Finance, Honourable Andrew A. Fahie (R1), will deliver his inaugural Budget address. Photo: VINO/File
ROAD TOWN, Tortola, VI – The Cabinet of the Virgin Islands (VI) met on March 21, 2019, where the meeting chaired by His Excellency Augustus J. U. Jaspert, considered and approve the 2019 current and capital expenditure (Annual Budget).
The annual estimates of expenditure will be presented to the full House of Assembly (HoA), on April 2, 2019, when Premier and Minister of Finance, Honourable Andrew A. Fahie (R1), will deliver his inaugural Budget address.
The Cabinet decision was made public yesterday, March 28, 2019, by the Government Information Service.
The occasion will also afford the Territory an opportunity to be apprised on the state of affairs of the nation’s finances by the recently elected Virgin Islands Party (VIP) government.
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4 Responses to “Cabinet approves 2019 Budget”
Lots of work to be done.
Lets keep the ball rolling.
Since the 2019 Operations and Maintenance (O&M) and Capital Budget is being tabled in the HOA on April 02, is it safe to assume that it got the blessing of UK? Hope the UK can get to yes sooner than it can for Brexit. The BVI is supposedly self-governing yet the Mother Country has to approve its budget and the Governor has reserved powers to allocate resources where he/she sees fit, eg, former Gov Duncan using reserve powers on or about budget year 2016 to allocate additional funds to RVIPF, embarrassing the Premier and Minister of Finance. In 1979 under the Dr. Williard Wheatley admin, the VI weaned itself of grant-in-aid, becoming for the most part financially self-sufficient.
Post 1979, the UK direct aid included constructing Her Majesty’s Prison at Balsum Ghut ( willing and eager to build a jail but not a school, hospital), and partial funding for new Government House. Regressing to constructing a new jail, is it not a better return on investment to educate our youth at the front end rather than investing to incarcerate them like beasts, making them non productive citizens/residents?
Cabinet approved the budget. But is not Cabinet the supposedly the executive branch? There needs to be a clear separation of powers obetween the Legislative and Executive Branches. Currently, they are essentially the same. Anyway, in my view, the budget should be first debated, authorized and appropriated in the HOA. Budget approved by the HOA, it is then the Cabinet responsibility to execute the budget. The UK is co-signing a £300M ($402M)for the VI and for that it is setting strict terms and conditions, ie, an RDA, O&M and Capital budget approval……etc. France is taking care of The Collectivity of Sint Martin, ie, roads, schools, telecommunications........etc. The Dutch is also earmarking recovery funding for its territories adversely impacted by the devastating storms,ie, 550 €. The UK is tightening the screws on the BVI….uts. The Capital Budget should be approved separately from the O&M budget.
What is the size 2019 budget, is hit larger/lower than 2018, what % goes to labour……..etc? The electorate needs this information so that it can come to HOA ready to pose questions, express concerns, propose inputs…….etc.