Minister of Finance and the Public Service, Dr. Nigel Clarke, speaking in the House of Representatives on Tuesday, November 8. (Photo: Donald De La Haye/JIS)

The government is proposing to spend $60 billion more this financial year with the lion’s share going towards public sector compensation adjustments.

That’s according to the First Supplementary Estimates of Expenditures tabled in the House of Representatives Tuesday afternoon.

Finance Minister Dr. Nigel Clarke told the House this will be funded entirely through higher than anticipated revenues.

Wayne Walker tells us more.

Sixty Billion dollars more. The figure pushes this financial year’s budget to $972 billion, just shy of the $1 trillion mark.

Finance Minister Dr. Nigel Clarke told the Parliament this will be covered through projected additional revenues earned by central government.

The First Supplementary Estimates will include the government’s prior response to impacts felt due to the Russian invasion of Ukraine.

This includes the energy co-pay which saw the majority of Jamaica Public Service Company customers receive assistance with their electricity bills.

It will also entail additional allocations for the Ministry of Economic Growth, for infrastructure works and the purchase of additional garbage trucks which are critically needed for solid waste management.

However, the most significant sum over $20 billion will go toward the government’s upcoming payments for the compensation review exercise for civil servants.

More than $1 billion will also go to the Ministry of Labour to facilitate an 18 per cent increase in PATH payments.

The finance minister says revenue performance is proof positive of the country’s strong fiscal position despite significant global uncertainty.