Budget passed following marathon consideration of estimates

This morning the Finance Minister moved Appropriation Bill 2015 to the tune of $181.7 billion reflecting an amendment to what was presented in the budget. Both sides of the House had agreed to the amendment so that the budget would conform to Constitutional amendments that allow for the financial independence of Constitutional bodies and agencies, such as the Rights Commission and Service Commissions

Budget passed following marathon consideration of estimates

While most of the country was fast asleep this morning, just after 3 o’ clock, the National Assembly passed the Budget following a marathon consideration of the budget estimates.

Some amendments were made to ensure a number of agencies that have been removed from under government ministries, now have their own funding.

On August 10, Finance Minister, Winston Jordan presented a budget for $221 Billion. It iss the first for the A Partnership for National Unity + Alliance For Change (APNU+AFC) Government.

This morning the Finance Minister moved Appropriation Bill 2015 to the tune of $181.7 billion reflecting an amendment to what was presented in the budget. Both sides of the House had agreed to the amendment so that the budget would conform to Constitutional amendments that allow for the financial independence of Constitutional bodies and agencies, such as the Rights Commission and Service Commissions

Over the past three days, government ministers found themselves flanked by staff from their ministries to answer questions about funding contained in the budget for several projects and initiatives.

The opposition members asked detailed questions about the estimates and were provided with answers.

The budget was the first for  the new APNU+AFC administration and is a 4 month budget. Preparations are expected to begin within the next month on the 2016 budget.

The completion of the Budget means that the nation can now move forward, according to Prime Minister Moses Nagamootoo.

He said that whilst most of the moneys allocated encompassed a significant portion of what has already been spent for this year, government has still managed to implement many of the measures promised during the pre elections campaign.

Presented under the theme, “A Fresh Approach to the Good Life in a Green Economy” Budget 2015 sets the platform for the Government’s vision of the Cooperative Republic of Guyana in the year 2020. It provides measures to ease the financial burden on citizens while improving their living conditions.

Some of these measures are:

  • An increase of the minimum wage from $39,540 to $50,000.
  • All public servants above the minimum wage will receive a 5% increase plus $5000
  • A 54% increase in the hourly rate paid to schools’ Sweeper/Cleaners.
  • Old Age Pension increased from $13,125 to $17,000
  • A 10% increase in Public Assistance from $5900 to $6500
  • An increase in the uniform allowance voucher from $1,500 to $2,000. Also, persons receiving payment for sewing uniforms in remote hinterland locations will receive a 25 % increase on the amount, from $800 to $1,000.
  • Eligible members of the Joint Services would be exempted from paying excise tax on motor vehicles.
  • Toshaos in approved Amerindian communities would be exempted from paying excise tax on All Terrain Vehicles (ATVs)
  • Eligible small and medium scale gold miners would be exempted from paying customs duties on fuel, matting, ATVs, jack-hammer drills, flex hoses, expanding metals, pumps, pump housing, impellers, shafts and engines.
  • Workers will no longer have to pay Income Tax on their NIS contributions.
  • The following items will not attract VAT – yogurt, cereals, fresh carrots, Milo and Ovaltine, Nestum, mustard and mayonnaise, locally-produced fruit juice, locally-made chowmein, vinegar, locally-made uncooked pasta, ketchup, chicken sausages in packets, locally-produced Chinese sauce, baking powder, liquid detergent, household cleaning agents, rolls of paper towels, household cleaning agent, and computer printers for non-commercial use.
  • The subvention to Trade Unions was reinstated.
  • Exemption on custom duties for the following: fishing boats, spare parts, equipment for fishing boats and equipment and supplies for use in the processing plant-for use in the Fish/Seafood and the Aquaculture Industry.
  • The Berbice Bridge Toll reduced from $2200 to $1900 for mini- buses and cars and a 10% reduction for all other categories of vehicles.
  • Shrimp to be made eligible for the export allowance granted to non-traditional exports.
  • $1.9 billion for housing development
  • $2.9 billion to improve water delivery countrywide.
  • $33.8 billion for education.
  • $23 billion to pay rice farmers.
  • $21 billion to strengthen and improve national security.
  • $1.6 billion to upgrade Sherriff Street/ Mandela Avenue in the city.
  • $1.2 billion to complete the East Bank Demerara Highway.
  • $300 million for Georgetown restoration.
  • $544 million to upgrade community roads and bridges countrywide.
  • $133 million to upgrade the Maternity Unit of the Georgetown Hospital and add 50 more beds.
  • A $115 million allocation for the Sustainable Livelihood and Entrepreneurial Development (SLED) initiative that would aim at stimulating community growth opportunities at the grassroots level.
  • A $155 million allocation for the Linden Enterprise Network to re-energise business activity in Linden and its environs.
  • $1.4 Billion to strengthen sea defences
  • $1.2 billion to upgrade farm-to-market roads as Laluni, Parika, Onverwagt, Ruby
  • $5.7 billion to rehabilitate and extend drainage and irrigation infrastructure countrywide.
  • $544 million to upgrade community roads and bridges countrywide.

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