Premier says he struggles with balancing BVI’s budget
Amid growing cries for infrastructural upgrades, Premier Dr Natalio Wheatley has reiterated that though the territory’s budget is $400 million, it isn’t big enough to address all the concerns persons have in the community.
He said as Finance Minister, he finds it hard to make the necessary allocations in the budget when he meets with government officials to determine what needs to be prioritised.
“It sounds like a lot of money to the people on the street but when you’re the Minister of Finance and you sit with the finance team and you struggle to find the sums we have to find, you realise it’s not a lot of money based on our expenses,” the Premier said in the House of Assembly on July 13.
His comments were in response to elected leaders who said they were disappointed that the recently passed supplementary budget doesn’t include allocations for many areas that are important to residents.
But the Premier said persons should note that most of the money in the territory’s $400 million budget is allocated for government expenses.
“When you really examine our budget, not a lot of money is outside of personal emoluments and operations. The expenses of government have grown and the reality is there isn’t a lot of money to do all that we think should be done,” Premier Wheatley said.
He added that the lack of adequate funds in the budget is the reason why he is seeking to expand and diversify the economy — something he has been explaining since people took issue with the recently held Non-stop Concert.
“We have to be aggressive about growing our economy which is really what we are attempting to do when we put on concerts that will enhance our tourism product. And I think we have to stop calling it (the Non-Stop Concert) a party because it is disrespectful to the entertainment industry,” the Premier said.
He added: “You have people who depend on the entertainment industry, they use it to put food on their table. These persons are not just out there trying to do a hobby. This is an economy in itself — the entertainment economy — and I don’t want the young people in this economy to think we don’t support them.”
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What happened to the billions of dollars paid into Government since the 1980s? I think the CoI gave us a few clues.
The good times have gone and we are left with woeful, third world infrastructure.
Opportunities squandered.
Maybe our “minister of finanance” should not spend a quarter million dollars on a party, and god knows how much on constant travel for him and his buddies.
Maybe our “minister of finanance” should not spend a quarter million dollars on a party, and god knows how much on constant travel for him and his buddies.
No VINO this morning!
You can find money to do nonsense and you here now talking about prioritising, man go sit down!
Be gone already.
This man ain’t good in his head. He struggles with a whole lot of things. Incompetence and ineptitude are at the top of the list. The same man took 250,000 and throw a party now complaining about balancing the budget? We have a Premier that has no experience with managing anything in his life. A man who was an average lecturer at the college to Premier and Minister of Finance. He probably never even negotiated a car loan. Can the BVI people really be serious? Is this a real place?
First of all, Mr. Wheatley should perhaps be congratulated for identifying the need to balance the budget. I don’t belioeve past leaders of the Territory have publically made such assertions.
Alas, Mr. Wheatley has inherited the consequences of the VI’s past profligacy. Consider the hospital’s $ 50 million over budget, 70% over budget on Pier Park and the missing millions, more recently $ 1.7 million for vendor stand at same, $ 1 million for sn elevator iin the admin buildiing. Lots more examples. Step 1 in considering balancing the budget surely is cost control. No more of “da is da price”. The UK’s offet to be a guarantor was rejected because govt did not want to abide by having to explain exactly how loan monies would be spent. Part of cost control would also mean bringing about and enforcing concepts like liquidated damages for delays, in completion and performance bonds for shoddy work. The days of just handing out money are over. We cannot afford this behaviour.
Secondly, Mr. Wheatley and others will have to decide on national priorities. Some want a $12 million ferry terminal at West End, others want to spend $ 200 million+ at the airport. We spent $ 85 million on Pier Park, but what has been the return on that investment? There should be cost benefit analyses done for public projects by qualified individuals before hand. These should explain how monies can be recouped for large capital outlays. Passing it all on to visitors.
Thirdly, balancing the budget means explaining what is done with the monies collected. For example, where does the environmental tax we collect from every visitor go?
Fourthly, likely to be highly unpopular in some circles, is that the business of employers withholding taxes at source and not forwarding the monies has to end. It means bringing people to accounts.
Balancing any national budget is never an easy task, and is always likely to be contentious and carries political risk but it is an essential step to manage the public purse especially where resources are limited.
Welcome to politics, Mr. Wheatley. Thank you again for stating your desire to balance the budget. It won’t be easy but neitrher is any worthwhile challenge to improve the Territory. I hope you’re able to do it.
Talk about digging your own grave.
Yet, he found it necessary to have an all-expense paid concert, and for what? Where was his voice as a Representative and a Minister, watching his predecessor’s blatant mismanagement and criminality of Tax Dollars?
I know it is a difficult task, and I am not at all surprise. For someone Who never taught primary school arithmetic what do you expect an easy task. You can however find money to support non esentials. Continue slow man it is the people that voted for non performance and ineptitude.
We need water! We need proper roads. Guys let’s boycott festival for our ancestors.
I know it’s a struggle for the accidental premier.
Math is hard and his fifth grade education lacks these very skills
We are doomed
This guy is getting dumber every single day…
A few weeks ago he said he was just getting started with spending money on the dumb concert, and now he is running out of money already.
If you can’t count, don’t become minister of finance.
If you people of the BVI is not convince mow that you all elected a boi to do a man’s job,they bury your head in sand.The boi stared openly he struggle to balance the budget but can still waste on nonstop party.etc.I don’t care what the people say this boi is not a leader.
UK pls.hurry come to our rescue
I wonder if they called the FBI again like they claim they did when it had man doing man on their website the other day.
Is Lorna power hungry backside is who put him back there. She need some good licks.
What was the return on your concert investment?
A small place like the BVI should be run like a well-oiled machine.
1. Each department should have a budget and can’t go over that budget unless they go through specific transparent processes.
2. The government MUST have a sustainable process of collecting moneys owed to the government and have reasonable penalties if not paid timely.
3. Discretionary spending should be transparent and minimized.
4. There should be government regulated reporting standards for the budget and should be available to the public.
How much growth did the half million concert brought in to improve the country well being.
But I thought he say we not broke. So we not broke but he still struggling to find money to address the country concerns? Something not adding up for true (pun intended). Yet he up and down talking about decolonization before he do some real work.
BROKE OR BROKEDOWN ???????????????
The COI must have brought the simple fact home that the BVI government is both out of control, and, untrustworthy, but, the people voted most of them back in notwithstanding, so, you probably got what you deserve at the end of the day. Instead of voting these people back in, perhaps you should have voted to bring the UK in to take control and train a new government to take over once they cleaned house so to speak.
and pigs should fly my friend
I said it here many times that this dude cannot balance his own cheque book how can he manage the finances of the entire territory?!?!!! It’s not personal so those who want to deflect and defend this guy – go rite ahead. This chit cannot be scripted even on Comedy Central tv. My hope for the next 4 years has taken another blow due to never-ending incompetence and blatant mismanagement of public funds.
Since we are on finances, what’s our debt ratio? What’s the CPI and RPI for the Q1 2023? Deh man ayo think we are idiots out here paddling water for y’all to squander and embezzle?
FOH yak government side are nothing more than rejects that need tossing out…
@resident please go and ask Ronnie, Marlon and rest of the NDP where the money went.
HE AINT READY
You are implying that the local (Black) people living in these islands have less to no worth than you, or no worth at all.Hence the colonial UK can arbitrarily come and take over.
Such statements are antithetical to the tenents of democracy and or human rights and self-determination.
Best joke so far ! Struggles with ‘balancing’ the budget…. Haaa ha
i bet u was there tho
. And I think we have to stop calling it (the Non-Stop Concert) a party because it is disrespectful to the entertainment industry,” the Premier said.
He added: “You have people who depend on the entertainment industry, they use it to put food on their table. These persons are not just out there trying to do a hobby. This is an economy in itself — the entertainment economy — and I don’t want the young people in this economy to think we don’t support them.”
WHAT IN THE HELL DID I JUST READ??? JESUS TAKE THE WHEEL!
obviously more than enough was left and squandered.
The premier is now getting a clearer picture of what he is dealing with.
Seeing is the first step to finding the correct part.
He also mention about diversifying the economy, another important step, exploring ways to grow revenues.
Seeing and experimenting will always lead to growth.
The point is if he pays close attention and is open to exploring different stuff. He will figure the best way forward.
No one knows all the right moves, but if you are paying attention to whats going on and willing to try different things you will improve.
So I think they is hope.
When will this nonsense end?
I think Lorna is more qualify to be minister of finance, this natalio just wreck the monies in non stop concert and traveling as Lorna try build the financial industry . At lease she have financial expertise while natalio had a doctorate in poetry.
Please take a walk along Main Street then compare to St. Thomas’s Main Street, can’t we do much better, no boardwalk in the capital, potholes that Govt. would not even reimburse for vehicle damage. The results from rising cost where prices are too high for the average person furthermore the less fortunate is a disaster waiting to happen, the end result a serious rise in crime. This is even though the employment % is reasonably low. Politicians continue to scorn citizens as though they are a menace and prefer to only look out for close associates. House of Assembly club. We the people need to care more for the wealth to be spread around and not to the minority. that sum of $250,000.00 could have been used to partially subsidize electricity bills which have gone through the roof which would increase buying power at the supermarket.
If I recall correctly, Wasn’t coming up with ways to diversify the economy part of what mr CSC was hired and paid more money than even the premier to do? So you saying after paying him all this money we still at square one with diversifying the economy?
You struggle with the TRUTH too.
he said just that. the country is not broke…. wait ’til I get started. Now he struggles…. This must be a movie.
Plain and simple. Albert Einstein the most brilliant person of his time..and possibly even today is said to have coined the expression that “doing the same thing over and over expecting a different outcome as Insanity. What else can it be called? The previous finance minister claimed to be a m mathamician and supposedly an economist didn’t run a small or any business that we know of. His family small business in west end isn’t it now operated by others? Fast forward to current Finance mjnister, though the word doctor is used in most reference to him he is not a Doctor of Finance. supposedly that is exactly what is needed. the hon Lavitte, hon Anthony, TB Lettsome and hon Oliver Sills and others brought us from a point to where we are and its not looking like our current set of experts are going to be able to take us any further; Yet here we are talking about self determination and independence. Here’s an exercise. Pause for a minute, closing of the eyes helps a bit. Pause and imagine that the COI didn’t happen. BviStrong. BviLove
There’s always another conference to attend. And then there’s the “significant” trade delegation to Guyana that will have SEVENTEEN people attending.
Just incredible….