Finance Minister, Dr. Peter Phillips, is urging his colleague Parliamentarians to engage in what he’s describing as ‘sober’ discussions on the budget when it’s tabled in the House of Representatives next month.
Dr. Phillips says a lack of sufficient consideration of the revenue side of the budget has contributed to the build up of debt over time.
Dr. Peter Phillips, Finance Minister.
He was speaking earlier this week at the official opening of the Scotia Group Fairview Financial Centre in St. James.
The budget for the 2015/2016 financial year is to be tabled in February for the first time.
For decades, it had been customary for it to be tabled in April, coinciding with the start of the new legislative year.
Dr. Phillips says the Estimates of Expenditure and Revenue Estimates will also be laid in the House of Representatives at the same time.
Meanwhile, Opposition Spokesman on Finance, Audley Shaw, says the government must prioritize the areas of Health, Education, and National Security in the upcoming 2015-2016 budget.
Mr. Shaw says the conditions within the health sector are rapidly deteriorating.
He says education – which is central to the country’s economic growth prospects – is also not being adequately financed.
Audley Shaw, Opposition Spokesman on Finance, speaking with Nationwide News.