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Gov't slashes Budget by $9.9 billion in revised Estimates
2013-02-05 14:52:26 | (0 Comments)
Daraine Luton, Senior Staff Reporter
Finance Minister Dr Peter Phillips - File Photo
The Finance Minister Dr Peter Phillips has tabled a new Supplementary Estimates indicating a $9.9 billion cut in the Budget.
The revised Estimates tabled in Parliament this afternoon, indicate that the Budget is now $602.5 billion down from $612.4 billion.
The Supplementary Estimates were expected last week, however, last Tuesday, the House Leader, Phillip Paulwell, said the Estimates would instead be tabled today.
Last year when Dr. Phillips tabled a $612-billion Budget it represented an increase of $76 billion over the $536 billion which was allocated during the previous financial year.
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Source: The Gleaner/Power 106 News
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