JIS News

The House of Representatives yesterday (March 14) approved $37.726 billion in expenditure for the government to carry on its business for four months, from April 1 to July 31.
Piloting the resolution, Finance and Planning Minister, Dr. Omar Davies explained that the sum comprised $33.098 billion for recurrent expenditure and $4.627 billion for capital expenditure.
Under the Financial Audit and Administration Act, the Minister is authorized to issue warrants for the withdrawal of such sums from the Consolidated Fund as the House may, by resolution, approve in anticipation of grants from Parliament in an Appropriation Act for the financial year in which the sums are issued.
While the resolution authorizes expenditure up to July 31, by that time, the 2006/07 estimates of expenditure and the accompanying Act would have been passed. “When the Act is passed, the funds released under the authority of this resolution will be covered by warrants under the authority of the Appropriation Act,” Dr. Davies explained.
The provisions of the resolution do not include: any increases in officers’ salary or allowances other than approved increments agreed upon by the government in the financial year to be paid in 2006/07; any increase in establishment over that approved in 2005/06 or; any new service or work for which no provision was made in the 2005/06 estimates of expenditure, or which has not otherwise received the approval of the House. No payment can be made by virtue of the resolution after July 31, 2006.
Minister Davies informed that the requirements for public officers’ pension, which were also excluded from the provisions of the resolution, did not require Parliamentary approval. He disclosed that the estimated amounts for this expenditure for the 2006/07 financial year, and the April to July 2006 period, were $220.9 billion and $80.8 billion, respectively.