Lengthy House Debates Could Become A Thing Of The Past

Add in the debate in the Senate and the process drags on further.

But, once passed, the Financial Administration and Audit Bill, 2010 will make major changes to the tedious, often-lengthy budget debate process – slashing the weeks-long process to just days.

Prime Minister Hubert Ingraham opened debate on the bill yesterday and said the long, tiring budget debates in the House of Assembly will soon be a thing of the past.

"We will get rid of this long, tedious exercise of 38 or 39 members getting up and talking for an hour or two hours," he said.

"I invite the leader of the House on our side and the leader of the House on the side opposite and members who we choose from that side and this side to go and see how it’s done in other parliaments so we can do a test run next year June."

The bill also makes provision for the annual budget communication, together with the annual forecast of revenues and estimates of expenditure, to be laid before the House of Assembly on the last Wednesday of May.

Prime Minister Ingraham said the proposed legislation also makes provisions for some new, key features that will further enhance government transparency like fiscal policy objectives for the period of the budget and the following two years; a review of macroeconomic developments (including fiscal and monetary) as well as the forecast and assumptions for three years ahead used to prepare the budget."

Future budgets will also be required to not only detail an anticipated deficit but also plans to eliminate it as well as information on contingent liabilities.

There will also be a requirement to present a mid-year budget setting out any changes necessitated by the current annual fiscal plan.

A provision is made for the mid-year statement to contain amendments to the annual Appropriation Act and annual revenue forecast to increase selected expenditures or revenues, or to reduce selected expenditures or revenues. 

"To make financial reporting more timely, it is proposed to require the treasurer to transmit the annual statements of account within three months after the close of each fiscal year," the prime minister added.

"As a means of enhancing the monitoring of the government’s fiscal position, a requirement is added for the treasurer to prepare and submit to the financial secretary periodically, as determined by the minister, statements of account containing the elements specified for the annual statements."