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Gov’t seeking $3.7 million in supplementary financing

Bridgetown_barbados_parliament_buildingGovernment is going to Parliament for millions of dollars in supplementary financing four months into its new financial year.

A supplementary for more than $3.7 million is being sought to carry out a variety of infrastructural works including $2 million for roads and the remainder for several areas including work on the official residences of the Governor General and Prime Minster.

The sum of money mentioned above for road workers will be for roads in St. Philip (Brereton, Pounder Road, Gemswick Nos. 1 & 2, Bequest, St. John (Haynes Hill, Marchfield), St. Michael (Lower Burney Phase 2, Friendship Terrace off Green Hill, Sundown Road, Jackson, Flagstaff Road, Factory Avenue, Bibby’s Lane), St. Lucy (Fustic), St. Peter (Welch Town Nos. 1 to 2).

There will also be work on other roads in St. James (Jordans, Road, Fitts Village, Haynesville), Christ Church (Greenland, Atkins Road, Rose Hill, Yorkshire Development), St. George (St. Luke’s Rowans #1 and #2), and St. Thomas (Proute). Other than that the supplementary funds will be spent on: * $200,000 “is required to enable the Ministry of Transport and Works to continue carrying out repairs to Government House). * $125, 000 “is required to enable the Ministry of Transport and Works to continue carrying out repairs to the old National Insurance Building”. * $816, 500 “is required to enable the Ministry of Transport and Works to continue carrying out repairs and major renovations” to building including Ilaro Court, Country Road Resource Centre and Old NIS Building. * $100, 000 “is required to continue work at the Carlise Car Park and Lucas Car Park and other public service car parks. Also for renovations and repairs to any other car parks”. * $500, 000 improve the properties at Trasport Board Weymouth headquarters and depots at Fairchild Street, Speightstown, Princess Alice, and Mangrove terminals. News of the supplementary has come simultaneously with a policy on the future use of such funding when Minister of Finance Chris Sinckler delivered his Financial Statement and Budgetary Proposals last Tuesday.

He spoke within the context of the adoption of “a zero tolerance approach”to ensure the targeted $285 million reduction in current expenditure was attained.

“There will be a strict policy of limiting supplementaries to within budgeted expenditure targets. Ministries and departments have been advised that the Ministry of Finance will not accept any requests for supplementaries where commensurate savings from their overall budget cannot be found, virement employed, or except in cases of serious national emergency,” Sinckler said.

“Special exemptions may be made on account of such areas or public health, national security, child and elderly care.” Virement is the administrative transfer of funds from one part of a budget to another and would ideally negate a supplementary. (SC)

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