Premier announces $414M budget for 2020
Premier and Minister of Finance Andrew Fahie has announced the territory’s 2020 budget to be $414,008,611.
The 2020 budget, which is legally termed the ‘Appropriation (2020) Act, 2019, was announced during Second Sitting of the Second Session of the Fourth House of Assembly on Tuesday, November 19.
The Ministries of Education and Health has once again received the largest allocations from the more-than-$400 million sum.
Breakdown of budget
The Premier said the total budget will comprise $327,766,149 on recurrent expenditure, “$65,492,000 on capital expenditure, $6,217,762 in fund contributions, and $14,545,500 towards principal repayment on our debt”.
The percentage allocation for each ministry and their statutory obligations are as follows:
Constitutionally established departments will be allocated 2.5 percent of the budget, the Governor’s Group will receive 11.3 percent, the Premier’s Office will be allocated 8.1 percent and the Ministry of Finance will get 12.1 percent of the budget.
The Ministry of Natural Resources, Labour & Immigration has been allocated 2.7 percent, Ministry of Education, Culture, Youth Affairs, Fisheries & Agriculture will receive 15.2 percent, the Ministry of Health & Social Development has been allocated 19.6 percent while the Ministry of Transportation, Works & Utilities will receive 13.8 percent.
Some 14.7 percent of the 2020 budget has been allocated to pensions, public debt and funds contributions.
“As you would notice, the bulk of expenditure continues to be on education and health, two of the most important area in guaranteeing the empowerment, strengthening and development of our people,” the Premier explained.
This 2020 budget is the second to be planned in less than nine months.
The previous budget which was passed in April this year was tailored mainly under the former NDP government before they demitted office.
At the time, the budget estimate was $426 million and will come into effect on January 1, 2020.
The budget debate will commence on Wednesday, November 20.
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$400m is a tiny amount to run a nation. Our leaders need to focus on basics, education, roads, water/sewerage, emergency, police etc and maybe privatise non essential services?
we is a tiny island with 30,000 inhabitants..
$327,766,149 on recurrent expenditure = money down the toilet….
This is DANGEROUS and I am sure this is one of the sticking points for the UK. Time alone, people better get ready. Over $300Mil in recurrent expenditure for this little place. The Civil Service will be the undoing of this beautiful little nation and nobody gives a s**t.
these colonized minds.
For centuries our ancestors toiled day and night making the UK and others buku rich while living day and night under the most horrific unspeakable, unhuman, inhumane horror a human could administer upon another.
Now if we have arrive at a point in our destiny where we can apportion a budget of the amount our Premier has apportioned, why would anyone even bother to mention what the current neo-colonial master thinks or might do? Have we not earned our right and way? Do we get to question UK budgets?
Some of us are really, despite our current political situation with UK, really need to de-colonialize our minds. It is about time.
Increments soon?
BVIHSA employees needs to start getting increments!,
Great job Premier.
Transform this place, Fahie. Good job on the budget. Now, let us make it a reality so we can tell the UK where to get off. Fully behind you.