Each year, Government Ministries, Departments and Agencies are required to submit their budgets for the new Financial Year, which must be in harmony with the overall objectives of the Government.

After the figures are tallied by the Ministry of Finance into what is termed the Heads of Estimates, under the direction of the Financial Secretary, the Minister of Finance tables the overall Estimates of Expenditure for approval by the House of Representatives.

The Estimates are divided into two sections - recurrent and capital. The recurrent or housekeeping account represents the cost of maintaining the permanent administrative structure of government, while the capital account is the cost of maintaining the national infrastructure, and implementing projects that enhance the country’s ability to pursue growth and development, in accordance with the government’s development policies and priorities.

On March 27, the Governor General will present the Throne Speech at 11:00 a.m., which will be followed by the tabling of the Estimates of Expenditure later in the afternoon by the Minister of Finance and the Public Service.

After the tabling of the Estimates, they will be referred to the Standing Finance Committee for consideration.

Following the meetings of the Standing Finance Committee, a report will be prepared and tabled in the full House. The Budget Debate will be opened on Thursday, April 10, by the Minister of Finance and the Public Service, who will ask for the adoption of the report.

The Opposition Spokesman on Finance will make his presentation on Tuesday, April 15, while the Leader of the Opposition will make his presentation on April 17.

The following week, on Tuesday, April 22, the Prime Minister, will make his presentation. The Minister of Finance and the Public Service will close the debate the following day, Wednesday, April 23.

At the close of the budget debate, the Appropriations Bill is passed. The Bill outlines details of what has been approved from the Consolidated Fund to carry out the business of the Government for the financial year. The Bill then goes to the Senate for approval, then to the Attorney General for final checks before the Governor General signs off on it.

Because it is a money Bill, it cannot be debated by the Senate, as they are not elected members. That is why the Minister of Finance must be an elected Member of the House of Representatives.