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by pltm
(PLTM) - After an abrupt postponement last month, government will now present its 2017 Budget to the people of the Virgin Islands in January, 2017.
Premier and Finance Minister, Hon. Dr. Orlando Smith, briefly confirmed today with BVI Platinum News that the new budget date is now scheduled to take place next month. At the time the Premier did not provide details as to the reason behind the set back.
"We are still in the budget developing process," he said, noting that the budget was not sent to the United Kingdom (UK) for approval.
This evening, Premier Smith is expected to provide more information on the exact day in January when the budget will be presented, and to speak on the economic woes facing the territory.
The National Democratic Party (NDP) administration continues to face serious criticisms from residents over it's apparent poor handling of the Territory's finances.
Residents are anticipating next year's budget as a number of worrying information came to light in October through the media, which showed that the United Kingdom is concerned about the state of the Territory's finances.
According to information, UK-appointed representative, Governor John Duncan wrote to Premier Smith earlier this year relating to fiscal responsibility, including the fact that government has not provided audited accounts for several years.
Following the revelation of the letters, Governor Duncan told BVI Platinum News that in fact, the UK is keeping a close eye on what’s going on.
This year's budget was $330M, the Territory's largest, and the budget address came with several announcements of tax and fee hikes for residents and visitors. Residents were outraged by the move.
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