‘I am not encouraged by this budget’- Hon Walwyn
Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) presented a $488,699,871.00 budget for 2025 during the Twenty-first Sitting of the First Session of the Fifth House of Assembly (HoA) on Monday, November 11, 2024, under the theme ‘Laying the Blocks of Success’.
The budget debate began today Wednesday, December 18, 2024, following the conclusion of an over three weeks exercise called Standing Finance Committee (SFC) on December 12, 2024. The FSC comprised the whole HoA where the proposed 2025 budget was examined clause by clause and engaged Legislators, Heads of Public Bodies, and Central Government along with Permanent Secretaries.
Hon Walwyn gave his contribution to the 2025 budget debate today during the continuation of the Twenty-first Sitting of the First Session of the Fifth HoA.
Expenses surpass income
Hon Walwyn expressed disappointment in the fact that the proposed recurrent expenditure surpasses recurrent income in the Virgin Islands as outlined in the 2025 budget.
“You have a total revenue of 410 million dollars, but you have a recurrent expenditure of 411 million dollars...that is a problem,” he said.
While Hon Walwyn said he can be corrected, he cannot recall a time in modern VI history when a budget was presented, and the expenditure was more than the revenue.
“It has never been the case,” he said, “That will be the legacy of this Premier and Minster of Finance, the first minister in so many years...that caused this country to have more expenditure than revenue in a given year.”
‘I am not encouraged by this budget’- Hon Walwyn
Meanwhile, Hon Walwyn went on to admonish the government as a citizen of the VI adding, “I am not encouraged by what I have seen, I am not encouraged by this budget in many respects.”
The opposition members said he remains concerned about the economy of the Territory.
“The economy is flat on its back, and I don’t see a plan, Madame Speaker, to get us out of what we are in,” Hon Walwyn lamented.
12 Responses to “‘I am not encouraged by this budget’- Hon Walwyn”
A neww nd improved larger prison with;
A civilian staff and additional salaried policemen and also additional judicial staff and Courthouse.
ETCETERA...
We deserve the Independence to our deserved detriment..UK given the last laugh along with previous Governor Jaspert still laughing
Wee will have additional expenditure