Many suggestions were mentioned in the Oct 7, 2019 Budget Speech. The
inclusion of multi-year forecasting was mentioned. The assignment of lands to
construction contractors to build low cost housing was included. But the public
has long recognized that many subjects mentioned and included in Budget
Presentations can be long-term objectives, dependent on resources or just Political Promises. Giving an opinion
the day after this Budget is fruitless, unprofessional and mostly seen as political
bating. The first assessment of the figures, laid in parliament and not yet
approved, must be to verify the actuals that new estimates are anchored too. Hence,
A multi-year Review of the Economy is essential.
The best source of such historical figures is the Auditor General
reports of Treasury Statements and supporting documents. Additionally, updates from
a Statistical Office of Gross Domestic Product (GDP) which measures national
productivity, will be useful to compare Economic Indicators. The last Revised
Estimates are also very useful. Inputting the current estimated figures in a predesigned
spreadsheet would best identify typos, miscalculations, large variances and new
allocations, as the software is programmed to highlight. All within the following
three days, to list projects and policies, under expenditure headings, that
would receive new, additional or be denied funding, and this should be done before
the Opposition Leadership replies to the Budget.
The Opposition response is very predictable. The population as be hearing
the same promises for as long as the executive have been in power and nothing
has changed. The Budget is designed to benefit their political friends and the
elite, with very transparent offers made to the rest of us to win votes. Noting
that many in the national parliament, on all sides, are not poor or can even be
considered middleclass. The Budget in previous years have, in fact, been a ray
of hope to the public, listing the Government Priorities, problems of
crime, jobs and opportunities to improve standards of living.
Over the next week, Ministers contributions, in both parliamentary chambers,
may be more useful as to intended projects and policies and should be listed
for cross-reference as to funding and timing. As each, from the executive
branch, review and list accomplishments, followed by selected opposition
speakers, questioning the truthfulness of the previous presentation and suggesting
better ways and means. Party Politics at its best or worse, depending on each individual’s
opinion. The majority of the population is turned off, as there are not pointed
to anything to affect them, their family or their income, personally. Hence, an
uninterested, uninformed public.
In the following week, the speaker convenes the finance committee and
hopefully the politics will end, as a detailed examination is carried out on
the budget estimates figures to fund programs, policies and projects for this
current fiscal year. With media houses searching desperately for the spectacular,
headline grabbing news, the committee systematically goes through the budget
headers and approves the allocations. At the end of this three-week process, the
parliamentary public gallery is empty, the reporters have moved on and the
various associations agendas are reset, but I am now ready to discuss A Conservative
Ten (10) Year National Budget.
The key roles of An Independent Office Of Budgets (OOB) is to inform the Public on the effects
of Proposals & Decisions, to track Sectors & Industries Advances and to
predict Economic Growth and Declines.
Rationale
T.A.J &
Associates Company Limited uses this occasion
to comment on topics that have been covered, both academically and by the
mainstream media, to add its opinion and point out investment opportunity, not
to invoke any social action.
