Govt aims for August budget

Sources yesterday informed Newsday that Parliament will take its annual recess later this month and return in early August. One source claimed that the reason why this was being done was to prepare for an early budget, possibly in late August.

Since being re-elected in the 2002 general elections, the PNM has presented the annual budget in the Lower House during the September to October period. Contacted yesterday, Minister in the Ministry of Finance Conrad Enill said preparations for the upcoming budget were well underway and Government always prefers to deliver its fiscal package early.

However, Enill said while the ministry is moving ahead with the necessary ground work for the budget, he could not give an exact date when it would be presented in Parliament because that date was contingent on when Manning completes his final review of the document.

Enill added that the Prime Minister may be out of the country later this week.

Leader of Government Business in the Lower House, Ken Valley yesterday said he expected July 21 to be the final sitting of the current parliamentary session and there will be a recess for one month. Asked if Cabinet had discussed when the budget date would be, Valley said that decision was Manning’s prerogative as Minister of Finance.

Leader of Government Business in the Senate, Dr Lenny Saith said he was not aware of any discussions about a budget date. Saith explained that this date would be announced once all the necessary preparations had been completed.

During a news conference at the Eric Williams Financial Complex last week, Enill declined to say when the 2006/2007 Budget would be presented in Parliament or what measures it was likely to contain. However, he hinted that Government would continue to allocate sizeable finances to areas such as education, health, housing, national security and infrastructure in the upcoming budget.

The minister also hinted Government will continue to strengthen the social sector by ensuring that the vulnerable in the society are empowered through training components attached to its various social sector initiatives.

Enill declined to comment on speculation that the 2006/2007 Budget will be an election budget since general elections in Trinidad and Tobago are constitutionally due next year. The total amount allocated in the 2005/2006 Budget was $36 billion. The Lower House will meet on Friday at 1.30 pm to debate the Financial Institutions Amendment Bill 2006. The Senate will next sit on July 18 at 1.30 pm.