Standing Finance Committee to discuss Estimates
The Standing Finance Committee of the House of Representative is to sit this afternoon to deliberate on the Supplementary Estimates of Expenditure.
The Estimates were tabled in the House on Tuesday, February 5, by the Minister of Finance Dr. Peter Phillips.
The 2012-2013 budget was revised downwards from $612 .4 billion to $602 billion, a reduction of $9.89 billion.
The Estimates show a decrease in the recurrent expenditure from $374.7 billion to $367.7 billion, with savings of $7 billion.
There is also a reduction in both Capital A and Capital B from a total of $237.6 billion to $234.8 billion, reflecting $2.85 billion in savings.
After the Standing Finance Committee of the House deliberates the Estimates, the House will be asked to approve the revised budget.
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