FACED with a massive economic recovery challenge, the Government has been forced to revise its timetable for the preparation and delivery of its 2022 Budget.
Initially, the $4 billion budget was to have been brought down in March, but this has now been put back by a month to April 4, according to the Timetable, which has been circulated to all Government departments and other stakeholders.
Solomon Star has obtained a copy of the new Timetable.
Among other things, the Timetable sets out what it described as “Major milestones, Activities. Deliverables and Deadlines.”
Debate on the Budget is expected to start on 4th April when Parliament is due to meet, unless there are further changes to the Timetable.
According to the Timetable, the Public Accounts Committee [PAC] will begin scrutinizing the Draft Budget from 14 March through to the 1st of April. Budget documents were due to be delivered to Parliament between 4th and 11th March.
The Government hopes to have the Budget proper in operation by 18th to 28th April or on 29th to 30 April this year.
Insiders said the government is having a hard time in ensuring the figures in the Budget are balanced out. According to a separate report, the government is yet to find $400 million for its development budget.
As well, the Ministry of Finance and Treasury has been asked to justify increases in revenue projections for the 2022 financial year. There are substantial increases being projected for the Inland Revenue Division (IRD), Customs and Other Charges.
It is not clear whether these outstanding issues have been resolved as preparations of the 2022 Budget continue.
The 2022 Budget Timetable
|Review and update economic and fiscal parameters||Review of the economic parameters because of the COVID 19 transmission and its impact on the domestic economy.||GDP forecast and revenue estimates update||17th Jan to 4th Feb 2022|
|Compiling and finalizing of the 2022 budget proper||Update 2022 budget strategy
Update fiscal table and ministry budgets
Revise government redirection policy priorities
|Revised 2022 Budget Strategy.
Revised Fiscal table
|8th Feb to 17th Feb 2022|
|Caucus and Cabinet approval of the 2022 revised budget Strategy||Approval of 2022 revised draft budget Strategy||Caucus and Cabinet papers
Revised 2022 Budget Strategy
|21st Feb to 25 Feb 2022|
|Feedback to ministries on the 2022 revised budget||Provide feedback to ministries on the final budget estimates. Ministries review budget estimates||Draft ministry budget ceilings and ministry allocations||21st Feb to 25 Feb 2022|
|Budget Cabinet||Cabinet approvals of the 2022 draft budget- 2022 Appropriation Bill||Cabinet paper
Revised draft 2022 Budget estimates
2022 Appropriation bill 2022
|3rd March 2022|
|Budget documents delivered to Parliament||Budget documents printed and delivered to parliament||2022 Appropriation Bill 2022
2022 Budget documents
|4th March to 11th March 2022|
|PAC Hearing||Ministries present to PAC
Complete PAC generic template by ministries
|Ministries’ talking points
Ministry budget information
|14th March to 1st April 2022|
|Parliament sitting||Brief Ministers on ministry budget
Prepare second reading winding up speech
|Second reading speech
Winding up speech
|4th April to 15th April 2022|
|Royal Assent||2022 Appropriation Bill||Gazette and royal assent||18th April to 28th April 2022|
|Budget Upload and release of warrant||Upload files
|2022 budget proper in operation
Issue accounting warrants
|29th/30th April 2022|
By ALFRED SASAKO