Prime Minister, Andrew Holness, says the administration’s thrust to have revenue from public bodies re-directed to the consolidated fund is the best approach to ensuring certainty and control over the country’s fiscal arrangement.
Mr. Holness says he’s heard the complaints from some players in the tourism industry in seeking to protect the Tourism Enhancement Fund.
He says he isn’t taking the matter lightly. But, the Prime Minister says the approach being taken by the government is highly recommended by economists.
He told the House that he’s a convert having previously lobbied as Education Minister for an earmarked fund in the National Education Trust to build schools.
He said he relented after coming to this realization.
The Prime Minister reasoned that it’s a false premise to argue that public bodies and their resources can be insulated when it’s a principle of public management that if the agency fails central government would inherit its debt.
He says the move to have all the fees or taxes collected by certain public bodies go to the consolidated fund is to ensure control over revenue.
Prime Minister Andrew Holness was making his contribution to the 2017/2018 budget debate yesterday.