Premier slams Penn over ‘unspent money’ criticism
Premier Dr Natalio Wheatley has defended his government’s approach to unspent budget funds in response to criticism from Eighth District Representative Marlon Penn, describing Penn’s focus on unspent monies as a political tactic.
Speaking during a recent House of Assembly sitting, Dr Wheatley explained the process and challenges of handling funds allocated for capital projects that remain unused by year-end.
“The member for the Eighth District has come and he’s asked questions about monies essentially which have been unspent,” Premier Wheatley said, adding that it’s common for such funds to roll over into the next financial year. According to the Premier, this practice of rolling over unspent funds is “not a new thing” and has been done “for times and times and times.”
However, Penn expressed frustration with the practice, stating that approximately $50 million in the last budget cycle remained unspent. He argued that the government’s inability to inject these funds into the economy hinders economic activity and leaves local businesses and individuals without the anticipated financial support.
“It speaks of a government that is incapable of getting monies in the economy to circulate within the economy,” Penn stated while highlighting the missed opportunities for economic benefits.
Dr Wheatley acknowledged Penn’s concerns but argued that the process of rolling over funds does not imply a loss of funds. “We’re not losing the money,” he clarified, explaining that the funds merely need to be re-budgeted in the following year. He pointed out that when a project is delayed, the money is retained but requires re-approval in the next budget, which has led to “the perception that we’re losing the money.”
Improved planning needed
The Premier emphasised the need for improved planning to ensure that funds are utilised within the budget year. He called on his Ministry of Finance team to initiate project planning well in advance so that by the time funds are available, projects can commence immediately. “If we know we’re going to do a project in 2025, allow the ministries to start procurement in 2024,” he suggested. “By the time 2025 rolls around, you’re ready to spend the money.”
In response to Penn’s claims about unspent money affecting the territory’s economic activity, Dr Wheatley clarified that unused funds do not automatically indicate economic stagnation. Instead, he explained that it provides opportunities for reallocating resources to other essential priorities, especially when a project cannot proceed as scheduled.
“When you see a particular initiative is not going to be executed, it allows you some money to be able to put towards some other priorities,” he said.
He pointed out this was also the case with a recent Schedule of Additional Provisions (SAP). “So that’s how we are funding this SAP. Most of this SAP is not any new money,” he explained.
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It is one college grade you could not deliver so we college students believe Penn.
Throwing the ministry of finance under the bus, are you? You continue to show your weakness
What the premier didn’t understand is the time value of money. The value of those funds injected into the economy now versus “rolling it over” like it was phone credits. You missed the opportunity to maximize the impact of that $50m!
The Rep ofthe 8 using semantics to fool the people .The money will be rolled over .If anything this proves that the Premier is not the reckless spender that he is portrayed as in the news.
The premier has already ‘stolen’ that money. He is full of excuses . This place is a joke a little rain and our whole island gets shut down. Maybe he should write a Poem about it.. it can go something like this:
“ have no idea what I’m doing as premier of this country,
I will continue to steal and manipulate the people. No progress , no future, no hope.
Wait let’s throw another music festival !!! “
Let’s have a 50million dollar concert. Pure top ranking artists stage and equipment the economic benefits will be a big boost to the economy. Steve where are you…big cheese in the house.
However, Penn expressed frustration with the practice, stating that approximately $50 million in the last budget cycle remained unspent. He argued that the government’s inability to inject these funds into the economy hinders economic activity and leaves local businesses and individuals without the anticipated financial support.
The government’s inability to manage our money is very vexing and we are just so tired of the waste and corruption.
Picture of the criminal still up there.
THE GREAT AMERICA ELECTED A MUCH BIGGER CRIMINAL THAN HE
Convenient amnesia
Money being held over so it can be shared out as part of the Airport bonanza of hidden benefits for friends and family, despite that fact that we dont need a new airport. We also dont need more state support of concerts. We do need roads and drainage clearly.