Premier praises government’s fiscal management amid criticisms

Premier Dr Natalio Wheatley has praised his government’s fiscal management, pointing to a surplus and low debt levels. However, critics have questioned the administration’s spending priorities and transparency.

Premier Wheatley reported a public debt of $111.5 million as of June 2024, with parastatal debt at $48.1 million, totalling $159.6 million. He projected this would reach $162.7 million by year-end.

“Despite global and local challenges, we achieved a surplus of $22.65 million while maintaining a low debt-to-GDP ratio below 20%,” he stated.

The Premier said the government anticipated revenue collections of $398.58 million by year-end, a 2.7% increase over budget estimates, attributing this to strong performance in various tax categories.

Recurrent expenditure was expected to be around $382.8 million, slightly below projections. However, capital expenditure was projected at $18.9 million, significantly below target due to delays in project implementation, particularly those linked to a $100 million loan signed late in October.

According to the Premier, projects earmarked for funding under the loan accounted for over 50% of all capital expenditure in 2024.

“We anticipate that these projects will accelerate in 2025, and the construction sector will receive a major boost from the implementation of public infrastructure projects,” he stated.

Criticisms of spending

Opposition members have raised concerns about the government’s spending approach. Sixth District Representative Myron Walwyn criticised the latest Schedule of Additional Provisions (SAP) to the budget, describing the spending as ‘willy-nilly’ and questioning its purpose amid national challenges. He suggested the SAP was a move by Premier Wheatley to secure support from government ministers.

Additionally, Walwyn expressed concerns about the government’s spending priorities, contrasting small budgets for essential services like water infrastructure with expenditures on events such as the Music Festival, which he believes offer minimal benefit.

He pointed to crumbling roads and struggling small businesses as evidence of misplaced priorities.

Beyond these concerns, issues have been raised about government officials’ travel expenses. Members of the Opposition and public commentators have criticised the administration for what they see as unnecessary and extravagant trips, especially during a time when resources could be better spent addressing critical infrastructure and public service needs. These criticisms have sparked debate about the need for tighter controls and greater accountability in government spending.