House Approves Carry on Budget

The House of Representatives yesterday (March 20), approved a Resolution allowing the government a sum of $51.6 billion to carry on its business for a period of four months, from April 1 to July 31.
Moving the resolution, Minister of Finance and Planning, Dr. Omar Davies informed that this sum comprised $43.87 billion for recurrent expenditure and $7.73 billion for capital expenditure.
Dr. Davies explained that under the Financial Audit and Administration Act, as well as provisions in the Constitution, the Finance Minister has the authority to issue warrants for the withdrawal of such sums from the Consolidated Fund as the House of Representatives may, by resolution, approve.
“The figures do not include statutory expenditure, such as debt servicing and salaries attached to certain posts provided for in the Constitution, or any other law as well as the statutory requirements for the pensions of public officers. These do not require the annual parliamentary approval,” he pointed out.
He noted that the resolution would authorize expenditure up until July 31, as by that time, the 2007/08 Budget and the accompanying Appropriation Act would be passed, which would provide for the release of funds under the Resolution to be covered by warrants under the legislation.
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 2007/08; any increase in the establishment over that approved in 2006/07 or; any new service or work for which no provision was made in the 2006/07 estimates of expenditure, or which has not otherwise received the approval of the House.

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