AFC financial team to scrutinise National Budget

Mar 10, 2012 News

Pull Quote: “The team would be examining the budget with a fine-tooth comb to make sure that the allocations reflect the interest of the people”- Nagamootoo

The Alliance for Change (AFC) has prepared a team of financial experts to scrutinize the National Budget when Government presents it in the National Assembly later this month.
This is according to Moses Nagamootoo, AFC Member of Parliament, who emphasized that the party has taken this step to prevent the party from being hoodwinked and treated as nonentities by Government.
“The team would be examining the budget with a fine-tooth comb to make sure that the allocations reflect the interest of the people,” he noted.
Nagamootoo stated that aside from its scrutiny of budgetary allocations, the AFC plans to maintain an oversight role to ensure that there is no siphoning of taxpayers’ money through shady deals and contracts.
Addressing the media at the party’s weekly press briefing, Nagamootoo asserted that the AFC has not closed its door to any discussions with Government on the budget. “If the Government in its inherent wisdom feels that there would be contentious issues in the budget and wishes to consult with us then we have an open mind,” he said.
“I believe the door is open for consensual politics and if you want November 28, 2011 to be a day to remember then, even the budgetary presentation and its estimate which are the purview of the state – even that could not be considered to be above consultation,” Nagamootoo stated.
He enlightened that parties were advised to make representation to the State Planning Secretariat and line Ministries. The AFC is also utilising press briefings to present the interests of the people to Government.
It is anticipated that when the budget is presented it would provide some measures to ease the financial hardships so many Guyanese are experiencing.
The rising of the personal income tax threshold, adjustment to the income tax and a reduction of Value Added Tax (VAT) are other areas that the party would be focusing on.
He added that the AFC in its Action Plan had put forward a tax threshold of $50,000, income tax should be reduced to 25 percent and VAT should be lowered to 12 percent.
Nagamootoo said that the team would be paying close attention to budgetary measures that would directly address security and crime reduction, job creation especially for young people, the delivery of healthcare especially in hinterland areas and education.
AFC also plans to use its seven seats in the National Assembly to pursue other tax reforms that would ease the burden of women. In addition, the party would pursue engagements with commercial banks to establish micro financing opportunities for women and other vulnerable groups and to review collateral requirements, which can exclude women from qualifying for loans.

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AFC financial team to scrutinise National Budget

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