Aug 2005 Financial News

Budget taking shape

Aug 23, 2005

Last week, Manning said Budget Day was tentatively set for September 5. Minister in the Ministry of Finance Conrad Enill subsequently told Newsday that this date was out and a budget date should be announced within two weeks. The budget will be delivered in Parliament during the period September 5 to 26.

"Too much has been said about that already. I don’t need to add to the confusion. As soon as the date is clear, we will make it public. We are getting there. You will get a proper budget," Manning said. The Prime Minister said some Government ministries have submitted their budget proposals while others have been given additional mandates and will submit their proposals shortly. All ministries have been given an August 26 deadline to submit their budget proposals. Manning declined to give any specifics about the 2005/2006 Budget but said all of the Government’s budgets from 2002 to 2004 showed an increase in social sector expenditure.

"Every budget so far, you check it, social sector spending has been increased. That reflects our view that not enough has been spent on the social sector in the past. We are now trying to bring it up to mark with what is expected with international benchmarks," he stated. The Prime Minister previously indicated that Government would scale back its social sector programmes as it deems it necessary to do so.

Asked about Government’s legislative agenda, Manning said that agenda was outlined earlier in the year and "we have a lot of work to do." The Senate resumes its sittings tomorrow and could sit for the remainder of the week to deal with some outstanding legislative matters. Leader of Government Business in the House of Representatives, Ken Valley, said the Lower House would sit on September 5, Parliament would be prorogued after that sitting, and the new session would begin later in the month.

In the new parliamentary session, Works and Transport Minister Colm Imbert will detail Government’s plans to construct a $1.5 billion port in Sea Lots, and there may be legislation to amend the Pharmacy Board Act to allow Filipino pharmacists to work without 500 hours of supervision by local pharmacists as currently required by the Act.

On Sunday, Health Minister John Rahael said he has been advised that amendments to the Act would involve a simple majority for passage in Parlia-ment. Rahael said all local pharmacists would be entitled to the 25 percent allowance in-crease which Cabinet agreed to since the Filipino pharmacists would be working both in the public hospitals’ pharmacies and in public health centres. He also indicated that Filipino pharmacists all have degrees in pharmacology, were well qualified and have worked in other parts of the world, without incident.

Newsday
Tuesday, 23rd August, 2005.
http://www.newsday.co.tt/stories.php?article_id=28393