ROADTOWN Tortola BVI, March 22nd, 2012   – In fostering an environment of openness and accountability, and encouraging an informed and educated public, the Government of the Virgin Islands is asking the public to tune into the budget debate to begin today at 10am.

The two-day debate of the 2012 Appropriation Bill, more commonly known as the budget, takes place at the House of Assembly Chamber and will broadcast live on radio station ZBVI 780 AM and on television CBN Channel 51.Members of the House of Assembly are presently readying themselves for the debate which indicates the completion of the Standing Finance Committee report.

The report is a record of the committee’s deliberations which began on January 26 and ended on February 28. Premier and Minister of Finance Dr. the Honourable D. Orlando Smith, OBE will table the report in the house.

All permanent secretaries, heads of departments and other top managers appeared before the Standing Finance Committee to justify their 2012 revenue and expenditure initiatives.

Following the debate, members are expected to vote on the passage of the Appropriation Bill, 2012. Thereafter, the Minister of Finance will sign a warrant authorising the accountant general to spend monies contained in the Appropriation Act, 2012.

Government’s projected revenue for 2012 is $287,472,000 while operational expenditure is $258,472,000, leaving a surplus of $29,000,000 to be committed to the development, pension, reserve, emergency disaster, contingencies and repairs and renewal funds.

Government remains committed to improving the quality of life and the standard of living for the people of the Virgin Islands.

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