Legislation Passed For TEF, JCAA and CHASE Money to be Put in Consolidated Fund

Photo: Michael Sloley Minister of Finance and the Public Service, Hon. Audley Shaw, addresses the House of Representatives. (FILE)

Story Highlights

  • Legislation was passed in the House of Representatives on July 11, to allow for funds from the Tourism Enhancement Fund (TEF), the Jamaica Civil Aviation Authority (JCAA) and the Culture, Health, Arts, Sports and Education (CHASE) Fund to be placed in the Consolidated Fund.
  • In his remarks, Minister of Finance and the Public Service, Hon. Audley Shaw, said the move fulfils the objective of the Government to redirect the funds of these agencies to the Consolidation Fund on a permanent basis, as part of an initial public financial management reform measure.
  • The Minister had previously announced the move to redirect funds of the select entities into the Consolidated Fund, as opposed to keeping separate accounts in commercial banks during the closing of his Budget presentation in March.

Legislation was passed in the House of Representatives on July 11, to allow for funds from the Tourism Enhancement Fund (TEF), the Jamaica Civil Aviation Authority (JCAA) and the Culture, Health, Arts, Sports and Education (CHASE) Fund to be placed in the Consolidated Fund.

The Bills are the Betting, Gaming and Lotteries (Amendment) Act; the Civil Aviation (Amendment) Act; and the Tourism Enhancement (Amendment) Act.

In his remarks, Minister of Finance and the Public Service, Hon. Audley Shaw, said the move fulfils the objective of the Government to redirect the funds of these agencies to the Consolidation Fund on a permanent basis, as part of an initial public financial management reform measure.

“It is important to ensure a degree of predictability of funding of the Government’s programmes and activities and improve its ability to prioritise and allocate the resources to meet the country’s needs,” he explained.

The Minister had previously announced the move to redirect funds of the select entities into the Consolidated Fund, as opposed to keeping separate accounts in commercial banks during the closing of his Budget presentation in March.

Mr. Shaw also sought to assure the Lower House that the work of the three public bodies will not be affected.

“The work that is undertaken by these agencies is valuable and will not be compromised in any way, as the Government will not be seeking to impede or obstruct the mandate of these public bodies. Having regard to this, their activities will continue to be properly funded from the Consolidated Fund… to ensure that their functions can continue to be executed,” Mr. Shaw said.

He pointed out that all three public bodies have already been programmed and funded through the 2017/18 Budget.

Meanwhile, the Minister said passage of the Bills is essential to ensure a degree of predictability of the Government’s programmes and activities.

“It has been a source of concern for some time that we really can’t have a lot of little Governments all over the place,” he said.

“You have one Government and you can’t have a dispersal of funds and some of them build surpluses while Government has to come to Parliament imposing new taxes. It is an inefficient form of governance and, therefore, this is a fundamental first step that we’re taking in the area of more efficient management of the country’s resources,” Mr. Shaw added.

For his part, Member of Parliament for Central Manchester, Peter Bunting, welcomed the legislation. “This is a move in the direction of better fiscal management of public affairs,” he said.
The Bills will be sent to the Senate for its approval.

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