Press Release
15 April 2019 - 4:15pm

The House of Assembly of the Virgin Islands has procedures in place to ensure a smooth process for the passing of the Territory’s budget.

Premier and Minister of Finance, Honourable Andrew A. Fahie presented the Appropriation Bill or the Appropriation Act, 2019 at the Second Sitting of the First Session of the Fourth House of Assembly on April 2. This Act contains the estimated financial requirements for expenditure on all the services of the Government for the current or succeeding financial year.

Following the presentation, a motion for the second reading of the Bill was proposed and the Premier, being the Minister of Finance presented the annual financial statement, or Budget Address under the theme: ‘Transitioning Towards Sustainable Growth.” Following the address, the motion for the second reading of the Bill was read and seconded. The sitting was then adjourned to a date that is to be announced after the completion of the Standing Finance Committee process.

The Standing Finance Committee is chaired by the Speaker of the House Honourable Julian Willock said, “The Standing Finance Committee is a committee of the whole House with the principal order to examine the Annual and Supplementary Estimates of the Territory in detail and to examine how departments of Government carry out their responsibilities.”

“This is when all Members of Government get to meet with department, statutory body and constitutional agency heads to discuss financial details in private,” he added.

After the Standing Finance deliberations, the committee’s report will be presented to the House by the Premier, who shall move that the report be adopted, and debated.

When the House resumes, the debate will commence and will be confined to the financial and economic state of the Territory and the general principles of Government’s policy as indicated by the Appropriation Bill.

At the conclusion of the debate and the passing of the Bill, it is then presented to the Governor for it to be assented, which paves the way for programmes and projects by Government’s ministries and departments to receive funding.

Author

Linton Leonard

Public Relations Officer
Office of the House of Assembly
Telephone: 494-4757 ext. 6958
Email: lleonard@gov.vg

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