Speaking immediately after he was sworn in yesterday, Mr Lilo said quality spending is important to driving the country forward.
"It’s just but a single component of a package that needs to improve the country's standing in terms of finance and the economy, and it is important to consider,” Mr Lilo said.
"We need to see whether a spending drive into creating growth in investment, lead into creation of employment, increase in productivity or lead into improved infrastructure facilities, these are just but some of the considerations we need to look into when it comes to spending."
He said another important component is to ensure a firm fiscal policy is in place.
"What is more important here is to make sure that fiscal policy is stable, sound and credible before we could look at establishing a good environment for monitoring policy to operate.
On resource tax, Mr Lilo said the country needs to focus more on tax.
"We now have to move out of service fees or licence fees to more of tax that are computed on the value of resources that we have or produce here so that we can see the real value of those resources invested back into the country.”
However, the new Finance minister said fundamental issues are activities that stimulate growth and are in the best interest of the nation
By EDNAL PALMER
| < Prev | Next > |
|---|
