Ousted SKNLP senior MP now leader of the Opposition Alliance known as team Unity, Hon Dr Timothy Harris has questioned the ruling SKNLP government in regards to fiscal management. In reference to resolutions passed the during the last sitting of parliament after members of the opposition staged a walk out to protest the over 20 month Motion of No Confidence, Harris asserted that these resolutions of course would never have received the support of Team Unity as it would be repulsive to the ordinary thinking people that a government that has a slush fund still seeks to create a long term burden its people.
The Resolutions that won Parliamentary approval are:
- To borrow from commercial banks (advances in the form of Treasury Bills) not exceeding $75 million for the purpose of meeting current requirements.
- To borrow by means of advances in the form of Treasury Bills sums not exceeding $360 million.
- Guarantee a loan in the form of overdraft and letters of credit not exceeding $15 million to the St. Christopher Air and Seaports Authority ( SCASPA ).
- Guarantee a loan in the form of overdraft and letters of credit not exceeding $5 million for the St. Christopher Tourism Authority.
- Guarantee the obligations of SCASPA to Cruise Port Development Ltd., for a new pier and enhancement work at Port Zante, for sums not exceeding US$32 million.
Meantime on Wednesday morning edition of Good Morning St Kitts and Nevis, Financial secretary Mrs Hillary Hazel set the record straight for the listening audience. Mrs hazel first explained the short term resolution. She explained that the Finance Admin Act of 2007 provides for the control and manga of public funds, authorization of expenditure the raising of gov money control of public debt. Part 8 of this act outlines that the Minister of Finance has no authority to borrow any funds without parliamentary approval.
The resolution does not necessarily indicate that the government is embarking on borrowing any money in fact, Hazel asserted that at this time the Ministry of Finance in far from the point of borrowing.
Mrs Hazel explained that there is a requirement for the Minister of Finance to seek approval to contact treasury bills annually. She explained that for some time the government has relied on treasury bills to raise much needed revenue.
The over draft for central government for 2009 was $160 million and had been reduced to $100 million a progressive move by the government says the financial Secretary. She explained that in 2014 the government sought authority for an over draft facility of $75 million as a precaution. She noted however that since 2012 the government has not used any overdraft facility.