Premier announces $382M budget for 2024
Premier and Minister of Finance, Dr Natalio Wheatley, has unveiled the eagerly awaited fiscal budget for 2024, totalling $382.67 million.
This figure represents a noteworthy decrease compared to last year’s budget of $399 million.
During the Sixth Sitting of the First Session of the House of Assembly on Tuesday, November 21, Premier Wheatley presented a comprehensive breakdown of the budget allocation.
Out of the total budget, $367.95 million is designated for recurrent expenditure — addressing ongoing operational costs, while $70.9 million is allocated for capital expenditure, which focuses on investments in long-term assets and infrastructure.
Here is a detailed breakdown of how the funds were distributed across the various ministries:
- Governor’s Group: $54.36 million
- Premier’s Office: $23.62 million
- Ministry of Finance: $39.52 million
- Ministry of Financial Services, Labour & Trade: $7.91 million
- Ministry of Environment, Natural Resources & Climate Change: $12.55 million
- Ministry of Education, Youth Affairs & Sports: $53.38 million
- Ministry of Health & Social Development: $95.92 million
- Ministry of Communications & Works: $74.95 million
- Constitutionally Established Bodies: $16.11 million
- Pensions, Public Debt & Funds Contributions: $58.17 million
- Miscellaneous Expenditure: $15.1 million
BVI News will provide further details in a subsequent publication.
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…Is the noose around the BVI’s neck. THIS is why we cannot fix roads, schools etc. Don’t care how you turn and twist it, THIS IS OUR BIGGEST PROBLEM EVERY YEAR!!!!
Pensions, Public Debt & Funds Contributions: $58.17 million
So should we not pay pensions or debt? Or, should we not contribute adequate monies to our funds? One of which is a mandatory requirement…tell me what’s the real problem here…smh…y’all know nothing but always talking.
yes we should pay pensions that people have been paying into all their working lives, NO we should not be paying pension contributions for people for 25 years that then retire on nearly full pay and open a business…
You all mean the minister them because deserving pensioners don’t retire on full pay.
And from whence will the revenue be derived? Taxes taxes and more taxes ?
Why wait until all the way March to get a report then wait until October to raise minimum wage..They are just like Foy, a lot of trick in the delay.. I didn’t hear him talk about increasing the tax exemption amount. I do think if they really want to help people and are honest they can increase the tax exemption amt b January 24,just a cabinet vote.. One day.. One stroke of the Pen..These politicians are just dishonest and heartless..
Read My Lips: No new taxes!!! Need a Otha $250k for a party….watch me work baby!!!
Two words
PURE PANDEMONIUM
or more like
increased pandemonium
Hmmm
It doesn’t include revenue from illegal gun and drug smuggling. That should be in there
the BVI budget is 10x that per person compared to the UK that $50m+ for pensions that most have never paid into is the problem and needs to be adressed.
Looking at the figures for: Ministry of Health, Education and Communications & Works I have some questions.
1. Will The Nurse Iris O’Neal Clinic on Virgin Gorda
be fully outfitted? Dialysis Machines, More
staffing, Linens, Medicines, other equiptments?
2. Since 2019 Can we finally move forward with
separating the BFEC Primary from Secondary?
Prime Land at Leverick bay was exchanged for
this to happen according to the then Minister
for Natural Resources who is the Rep for the
9th.
3. When will we see the separation of Cargo and
passengers on Virgin Gorda? Ever? Never? 60
years?
4. What about our roads condition?
5. What about our replacement of Solar Lights from
Valley to North Sound?
6. What about the Garbage situation that was
talked about? Give up an update.
7. What about the Clinic in North Sound that is
again currently closed?
8. What about the occupants of the Community
Centre basement and others that are still
without homes?
9. What about the Building at Gun Creek that
housed Immigration and Customs? any updates?
10. What about a Healthy Meal programme for the
Kids in the District?
11. What about the stopped project of the Yep
Centre on Virgin Gorda? We know. Ask Virgin
Unite and then ask the Minister of Ed. We
know. Pure Politricks but we know.
12. What is the hold up in naming the Valley Ferry
Terminal Building in honour of Edwin (Speedy)
George?
And the List goes on…….. 40 more years?????
Why the amount allocated for the Ministry of Financial Services is the lowest of all Ministries? Come on Hon Smith…why they doing you/us that?
Premier’s Office: $23.62 million. For what ?
Let me see here.
I thought we were going Dubai? Perhaps we could have read the budget from there .
Anyways, I like to travel and sometimes I am so busy that I am on travel duty and cannot be present for other pressing matters. I have a great job and I get a hefty salary and even if I am not here I get paid, oh well and please do not question me about my assets ……and you know me, you know where I am working…( chuckle chuckle) just tell me how much money I owe so I can go get you a check…..
Gossip????
Can somebody please show Natalio the exit please, because all hell going break loose here ……please somebody talk to this man and tell him RESIGN
He gets to keep what he came in with NOTHING ELSE, NOT A DAMN THING ELSE
The budget is a clear example of a continually shrinking economy. Best guess post Irma/Covid population down from 45k to 30k (population is directly linked to economic growth). We need to stop spouting the ages old rhetoric about foreign workers coming to steal our jobs and start freely issuing trade licences, sensible work permit and immigration policy with fast turnaround times, sort out the residency backlog, attract inward investment, UK borrowing. None of this involves giving away crown land.
From the first of its kind golden goose to an unwieldly monster we need to revamp the Company law. Locals complain about the cost and overseas complexity. Get back to a Company and one annual return filed by the directors. What happened to the Micro Business Company Act? We should not have to do CDD/ESA/BOSS etc for a local cobbler filing with the Inland Revenue, we need a drastic rethink.
Not a penny for retirees cost of living and Social Security increase. Who sucking salt and dem pain invisible.
15 million for miscellaneous expenses like what? Going into pockets?