PM HARRIS SHEDS LIGHT ON THE SIGNIFICANCE OF THE BUDGET TO THE EFFECTIVE RUNNING OF THE COUNTRY

Published 21^st October 2020

Buckie Got It, Basseterre, St. Kitts and Nevis News Source

Today, Wednesday, October 21, the Cabinet of St. Kitts and Nevis continued the arduous task of fine-tuning the 2021 Budget by meeting with more senior government officials as part of the Budget Estimates Committee Meetings being held at the Ministry of Finance Conference Room.

Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris, said the Budgetary process is a very long and tedious exercise but one that is very necessary. 

“Everywhere, the Budget debate is considered a confidence vote on the Government. In the Westminster parliamentary model of democracy, the failure to pass a budget is considered to be equivalent of a vote of no-confidence because without the resources having been approved it becomes difficult for the Government to pursue transactions as there is no legitimate basis for making payment, save for those expenditures which fall naturally because they are determined by way of the Constitution,” the prime minister said. 

Dr. Harris used last night’s (October 20) edition of Leadership Matters to discuss with the people of St. Kitts and Nevis the National Budget as an instrument for delivering a stronger and safer future. He was supported on the programme by Accountant General, Mr. Levi Bradshaw.

As part of the budgetary process, the various Government ministries are required to give an account of their performance over the last year and present their plans for the upcoming fiscal year.

The Finance Minister added, “The Budget has to be seen as one of the tools available to the Government to direct and guide the developments in the country. To determine where the scarce resources will go and why they must go there is part of the process of public accountability.” 

Moreover, Prime Minister Harris said the presentation of a National Budget forms part of the accountability framework of any Government. 

“In a major way, critical to the accountability programme of the government is to account for every dollar spent. Unlike what may be said from time to time, every dollar that is spent by the Government is recorded in the accounts of the Government and the accounts of the Government are audited every year. The Constitution requires that the Director of Audit should audit them within I think a 9-month window,” Dr. Harris said. 

The Budget Estimates Committee Meetings are expected to conclude tomorrow, Thursday, October 22, with presentations from the Ministries of Sustainable Development and Finance. 

Upon conclusion of the Budget Estimates Committee Meetings, the Ministry of Finance is expected to fine-tune the 2021 Budget Estimates before the Minister of Finance and the Federal Cabinet review them even further. The final exercise will be the preparation of draft estimates and the Budget Address for presentation by Prime Minister Harris for final action to be taken by the Federal Parliament.