Cabinet approves two-year medium-term fiscal plan for BVI
The Cabinet has reviewed and approved a two-year Medium Term Fiscal Plan (MTFP) which will help to keep the territory in compliance with the Public Finance Management Act of 2012.
A Cabinet post-meeting statement released yesterday, January 19, noted that the Act mandates that a MTFP be prepared and updated, as a multi-year document and that the 2023-2025 MTFP fulfils the requirement stated in the Act.
In approving the MTFP, along with an outlined debt strategy, the government said there will be no breaches in any of the ratios under the Protocols for Effective Financial Management agreed with the United Kingdom (UK) in 2012.
The Protocols for Effective Financial Management is an agreement signed with the UK to ensure transparency and accountability as it relates to handling public funds.
Cabinet said that compliance with the ratios, despite strained resources, not only indicates the government’s continued commitment to its fiscal responsibilities but also to debt sustainability responsibility.
According to the release, the Cabinet also reviewed the 2021-2023 Macro-Economic Review and Outlook, which it described as the accompanying supporting background document for the 2023-2025 MTFP of the government.
The MTFP, inclusive of any amendments made by the Cabinet, is now expected to be tabled as the final document at the next convenient sitting of the House of Assembly.
It was further noted that the approved 2023-2025 MTFP will be submitted to the Minister of the Overseas Territories, as a matter of priority.
Copyright 2024 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.
Seems like we are seeing the foundational steps towards deferring elections for this year for a period of 2 years, under the continued stewardship of the present administration. In an earlier speech the Premier seemed to allude to the fact that when the government was formed that it did so with the understanding that it would serve a full 4-year term… this presumably referred to the Unity coalition… so they will continue to be in charge while implementing the UK conditions in order to defer the Order in Council from being executed.
Any takers on this wager?
Essentially, we have no choice but to play the game… rule by consent with with oversight, or be ruled without consent or voice. Don’t be fooled by the smoke and mirrors. The game has already changed… checkmate. The UN can only talk, CARICOM can only protest, and we can only make things harder on ourselves with useless rebellion.
Let’s lay low, take our chastisement, turn from the corrupt and inept doings of the past, and change our mindsets from the inward looking, small-minded routine we have adopted over the decades to one that sees our role within a community of small-island states seeking greater socio-economic integration in order to compete (not among ourselves but against the wider developed countries that continue to use us for our resources and then dispose of us when we are depleted or no longer “useful idiots”).
Then… maybe then, we will be in a position to elect and sustain governmental representatives (not just politicians) that matter, will actually consult with and listen to the people, make wise proposals for lasting progress, and can move us forward instead of relying on every “cat and dog” that claim to be the saviour of the land while plotting to drain what little we have left of our resources for selfish gain.
Sometimes what seems to be a setback is actually a chance to reset and seek redemption.
See Jeremiah chapter 27 for an interesting Biblical parallel from history…
There is nothing new under the sun. Learn from the past… save the future.
We want our increments Mr. Premier. When will we get them? After fowl cock grow teeth?
Please approve funding for increments owed.
The brutal cost of existing in this territory is foreboding and causing much stress and illnesses among the. seniors who have since retired.
Please pay them now!
Paying the incremens owed, that the people already worked for, there must become a concerted effort by this administration to pay at least those incremments owed to all, but especially to the retirees.
Elected officials are not hearing or heeding that necessary life’s calling to take care of your people, especially those who have aleay contributed to the growth of the country!!
It is evident that administration ater administration don’t care about us the peopl who have toiled for this country for 35- 40+ years .
They will know us only come election time, meanwhile we broke and hungry and can’t get nothing done cause we don’t have the money they owe us.
When will we get our increments?
This is beyond fair and reasonable.
When are the the people of the BVI going to learn the truth??? How long are we stuck with Sl** and his brother running this country? Why are we the people being kept in the dark?
Why should we accept this, trick? No one voted Slow to be our leader.