Jun 2015 Financial News

June 22 is Tobago Budget Day

Jun 11, 2015

Budget Day in Tobago is Monday, June 22.

It will be followed by a debate on June 25.

Tobago House of Assembly (THA) Chief Secretary Orville London said Secretary of Finance Joel Jack will present all matters relating to the budget — the THA’s revenue and expenditure for the upcoming fiscal year — by June 30.

“After that we go into the negotiation phase, of course. This is a very peculiar situation where we have an election coming up. We don’t know when the budget will be presented, but we will do what we have to do. We will start our discussion with the Minister of Finance, until that can be arranged,” London said.

The announcement was made by London at yesterday’s weekly media briefing.

He said despite the Assembly being $37 million short in funding from central government, to pay outstanding arrears to public servants, teachers, daily rated workers and most State employees, priority will be given to paying the money to them.

The Assembly requested $147 million but received $110 million.

“But I want to give all of these workers the assurance that the payments would be a priority, and therefore we will have to find money from other areas, but we will ensure that the workers in Tobago are not in any way disadvantaged,” London said.

Last year Jack presented a $5.6 billion budget, but was allocated $3.7 billion, when the national budget was read by Finance Minister Larry Howai.

To date the Assembly is yet to receive its $102 million for its quarterly budgetary allocation.

The THA has repeatedly called on the Ministry of Finance to explain why its funds were reduced.

Source:
By Elizabeth Williams
Trinidad Express
Thursday June 11, 2015

http://www.trinidadexpress.com/20150610/economic-policy/june-22-is-tobago-budget-day