THA unveils $3B budget Monday

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The Tobago House of Assembly (THA) will unveil its budgetary proposals for the 2006/2007 financial year on Monday. Secretary of Finance/Planning Dr Anselm London will present the 2007 fiscal package – pegged at some $3 billion – at a special sitting of the THA scheduled for 10 am at the Assembly Chamber in Scarborough.

Yesterday, at the weekly post-Executive Council meeting press briefing, both London and Chief Secretary Orville London remained mum on the monetary sum the THA was seeking from Central Government to run the island’s affairs for the next financial year. Pressed by reporters, all the Chief Secretary would say is that no entity would seek less than it did the previous year and before that. In the circumstances, it is expected that the figure could be well over the $2.2 billion sought by the THA last year.

Out of that requested sum, the THA received a parliamentary allocation of approximately $1.3 billion, said London. Outside of that, he noted there was the question of certain projects in Tobago which were being funded by the relevant ministries directly from Central Government, and which may well take the figure over the requested $2.2 billion. Monday’s Budget presentation will be followed by the full budget debate at the THA’s regular monthly plenary sitting on Thursday.

This is expected to be a marathon sitting lasting well into early Friday in order to facilitate the submission of the THA Budget package to Parliament, in keeping with provisions of the THA Act (1996) which stipulate that the THA must submit its budgetary proposals to the Parliament by June 30.