Monday is Budget Day

Finance Minister, Dr Ashni Singh

The 2014 National Budget will be presented in the National Assembly on Monday, March 24, Finance Minister, Dr Ashni Singh said Tuesday night.

According to the Minister, the multibillion-dollar budget has been designed to accelerate economic growth and social development in keeping with the People’s Progressive Party/Civic (PPP/C) commitment to the people of Guyana. “It will emphasise macroeconomic stability through the continued creation of investment opportunities, expanding and upgrading physical infrastructure, improving the quality of social services and strengthening institutional and regulatory environments,” Dr Singh said in a statement.

Considering the ongoing rift between the Opposition and Government in the National Assembly, the Minister opined that the 2014 Budget presents another opportunity for the PPP/C; the A Partnership for National Unity (APNU); and the Alliance For Change (AFC) to work together in the interest of the people of Guyana.

He said the budget was compiled following consultations with a number of stakeholders including the Private Sector, Labour Unions, and other interest groups. This process started in June 2013.  “However, despite repeated invitations to the APNU and the AFC, they opted to boycott the consultations,” Dr Singh said.

Informed policies

Nevertheless, Minister Singh is calling on the Parliamentary Opposition to embrace the opportunity to work together with the Government to ensure smooth passage of the budget through the National Assembly in the coming weeks.

This year’s budget presentation will be the eighth by Minister Singh, who first presented the budget in 2007, following his appointment as Finance Minister in September 2006.

In praising the PPP/C Government, he stated that the strides made by Guyana on the local and international scenes are the direct results of informed policies.

“Over the past eight years, Guyana has experienced an unprecedented period of uninterrupted growth, standing out in its economic performance despite the crises that have enveloped economies in the Caribbean and beyond over those same years,” he noted.

In 2013, Minister Singh presented a whopping $208.8 billion National Budget to the 65-seat legislature under the theme “Overcoming challenges together: accelerating gains for Guyana”.  However the budget suffered a major blow, when APNU and AFC collaborated to execute major cuts.  The joint parliamentary opposition had reduced the budget by a massive $31 billion.

No power to cut

Government was forced to take court action. Acting Chief Justice Ian Chang recently ruled that the National Assembly cannot cut the budget, only approve or disapprove it.

Meanwhile, contending that they were not fully consulted on the 2014 Budget, both the AFC and APNU have pledged to axe the budget for a third time despite the ruling by Justice Chang in January.

Opposition Leader David Granger, who was dissatisfied with the ruling, said: “The Government in this situation, if it refuses to amend the budget to the satisfaction of the Opposition, would precipitate a major constitutional crisis and trigger consequent General Elections.”

Speaker of the National Assembly, Raphael Trotman had also signalled his disapproval of the acting Chief Justice’s ruling, arguing that the ruling will have far-reaching implications for the Commonwealth parliamentary system. Contrary to Chang’s ruling, Trotman said the National Assembly has the power to approve and amend budgetary estimates, noting that this is a long-established right.

“The principle of comity dictates that the three branches of government – the executive, the legislative and the judicial – are all separate and equal and are to respect the right and authority of each other,” he had said. He said while the High Court’s ruling will be respected, the National Assembly has the right to appeal the decision.

source:Guyanatimes