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Adjusting budget is about being 'cautious' & not broke- Premier Fahie

- amidst remarks by Opposition that Gov’t is adjusting budget because it is broke
September 13th, 2021 | Tags: budget adjustments broke Andrew A. Fahie HOA cautious
After Premier and Minister of Finance, Hon Andrew A. Fahie (R1) recently disclosed that Government is proposing an adjusted budget for 2021, considering the shortfall in projected national revenues, the Opposition was quick to suggest that the territory is broke; however, Premier Fahie has assured the Opposition is far from the truth. Photo: GIS/File
Premier Andrew A. Fahie (R1) has assured that adjusting the budget will not prevent the Government from trying to help every district as much as it can with limited resources but high demands. Photo: VINO/File
Premier Andrew A. Fahie (R1) has assured that adjusting the budget will not prevent the Government from trying to help every district as much as it can with limited resources but high demands. Photo: VINO/File
ROAD TOWN, Tortola, VI- After Premier and Minister of Finance, Hon Andrew A. Fahie (R1) recently disclosed that Government is proposing an adjusted budget for 2021, considering the shortfall in projected national revenues, the Opposition was quick to suggest that the territory is broke.

Premier Fahie has; however, dispelled those rumours being propagated by the Opposition, assuring the Virgin Islands that the rumours are far from the truth.

‘Signs of being cautious’

“But Mr Speaker, to say that all the revenue makers are where we would like them to be, no, but just like your private account, or your private finances, if you see that your income dips a little bit before you go into a deficit you make adjustments. And we have made adjustments just like we did last year. It’s not the first time and just like we had to do in 2017. So let no one fool you that adjusting budgets show signs of being broke,” Hon Fahie stated during the continuation of the 11th Sitting of the 3rd Session of the 4th House of Assembly held virtually on September 9, 2021.

According to Hon Fahie, the Government’s decision to adjust the budget “shows signs of being cautious”, especially since COVID-19 is still present, it is the middle of the hurricane season and the VI is also vulnerable to earthquakes.

“So we have to tread lightly because he who keeps watch, like Honourable Sharie de Castro reminded me some day, has to keep the time.”

All districts will still be helped

Hon Fahie also assured that adjusting the budget will not prevent the Government from trying to help every district as much as it can with limited resources but high demands.

Speaking on Friday, September 3, 2021, during a press conference on cruise passengers and the BVI Gateway systems, Premier Fahie announced that Government will be bringing "a revised budget very soon, to make sure that persons stay within lines so that we do not get involved in deficit spending. So that we do not have to cut public officers' pay or cut public officers from the payroll.”

He added that even with the cut in spending, jobs will remain intact and that the government is projected to pay increments due for 2017, as well as execute its plans for job reclassification and salary reviews.

13 Responses to “Adjusting budget is about being 'cautious' & not broke- Premier Fahie”

  • hggtrfedgfdg (13/09/2021, 14:54) Like (3) Dislike (0) Reply
    • blogsman (16/09/2021, 00:34) Like (0) Dislike (0) Reply
      Andy, Cindy says your gov is the worse we had and will ever have. do you agree???
      I agree with Cindy for once.
  • E. Leonard (13/09/2021, 15:03) Like (10) Dislike (0) Reply
    What is the truth? Premier Andrew A. Fahie, R-1 and MoF, is suggesting that government is making some structural adjustments to the VI government Fiscal Year 2021 budget; Opposition, on the other hand, is saying that government is broke. Here is a truth. A government budget is an estimate of revenue and expenditures in a fiscal year. Some years government end up with a surplus; others, deficits. Moreover, the coronavirus (Covid-19) pandemic, a costly unplanned event, has stressed and strained the budgets of most countries; the VI was not spared. Additionally, most countries didn’t have the reserves to meet the urgent, unplanned and needed additional spending, resulting in deficit spending. Consequently, in order to meet other needs, they had to make adjustments or procure other revenues, ie, borrowing, increasing taxes, fees….etc. Further, even if government(VI) had the money in say its Contingency Fund, the right thing to do was to bring the issue to HOA to authorize and appropriate withdrawal money from the Contingency Fund, making the necessary structural budget adjustments. I have no dog in this fight but given the impact of Covid-19 on both revenue (lower than estimated) and expenses (increased expenditure), the proper, smart, reasonable and sensible course of action is to structurally adjust the budget to reflect the reality on the ground. The budget execution and accountability report at the end of the fiscal year should reflect this action.
    • my2cents (13/09/2021, 17:16) Like (6) Dislike (0) Reply
      Clearly no one is paying you to blog or push their propaganda. Good post my brother. I wish everyone was as level headed with their comments and we would make more progress here so.
  • What about the Arrears? (13/09/2021, 16:49) Like (10) Dislike (3) Reply
    Have all the arrears to the BVIEC and vendors been cleared up? What about the statutory bodies, for which the government is ultimately responsible? If you have $100 in the bank, but owe $200, you're broke! And if your income is $50, but you're spending $75, you've got a problem.
  • Rubber Dick (13/09/2021, 17:05) Like (0) Dislike (1) Reply
    Now that’s a good minister of finance he knows how to shift his sail for the win
  • Political Observer (PO) (13/09/2021, 17:12) Like (3) Dislike (2) Reply
    The Opposition is supposedly proclaiming that territory is broke. Who in the Opposition is making such a bold statement? What evidence does the Opportunity have to show that the territory is broke? Is this an opportunity to score cheap political points or there is merit to the cry from Sage Mountain? Just last week, the Opposition made it known that he is ready to be Premier. To be premier, requires proven experience, strong and effective leadership, effective management, knowledge, skill, ability, competence, among other qualities. Be true leaders and be responsible and accountable and show us the evidence. In opposition, the Opposition hasn’t the perfect solution to every issue and government cannot even by accident do anything right. Nonetheless, when in power, things are different. Now, residents have to be protected and services provided. One cannot longer hide behind mask of the Opposition, for people expect things to get done. The Opposition is supposedly the government in waiting and they should act and behave like it.
  • ztrzrzretfredsdfsew (13/09/2021, 17:18) Like (0) Dislike (0) Reply
  • Tomorrrow is your Show (13/09/2021, 17:36) Like (6) Dislike (0) Reply
    Mr. Premier. You have a date with the COI Tuesday. Cant miss it..Hope yoj prepare..

    .
  • Spaced out (13/09/2021, 18:14) Like (1) Dislike (2) Reply
    Be nice if people learned to write in paragraphs. Many people see blocks of text and skip over it.
  • Good going. (13/09/2021, 21:50) Like (0) Dislike (2) Reply
    With no help from UK through this entire ordeal of the pandemic our Government is trying so hard to keep this country moving in the right direction and all the VIP Government is getting is harassment from UK. That does not come across as caring for the BVI. I have no fish to fry here this is just my observation.
  • WEW (14/09/2021, 11:39) Like (0) Dislike (0) Reply
    Time for complete ACCURATE written report from the finance minister. Is that asking too much ? It's my money
  • Big j (16/09/2021, 07:48) Like (0) Dislike (0) Reply
    No help from the UK during pandemic? How about the free vaccines that my tax £ help pay for? And oh, by the way, I get nothing for free here. Born in BVI = get a UK passport. Born in UK = 20 years to be a belonger. BVI takes a lot, moans a lot, is ungrateful a lot and apart from amazing beaches doesn’t really have much to offer.


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