GSD welcomes additional financial transparency on Govt’s Covid-19 spending

The GSD said it had secured additional financial transparency on the use of the government’s Covid-19 Response Fund.
The Leader of the Opposition, Keith Azopardi, said the GSD had obtained written assurances from Chief Minister Fabian Picardo that he will provide monthly key performance indicators as to how the Gibraltar Government’s revenues are doing, as well as raw data on Covid-19 Response Fund expenditure.

“This is a tangible advance in securing greater clarity on the state of the overall economy,” Mr Azopardi said.
“This information is critical in enabling the Opposition to assess the impact of Covid-19 on our
economy and public finances.”

“These assurances were repeated by him for the record in Parliament. I am pleased that these assurances have been given.”

“It is a positive step in securing greater transparency and better understanding the financial consequences of the crisis.”

Roy Clinton, the GSD MP who shadows the public finance portfolio, said the need for financial transparency had been paramount in the party’s thinking from the outset.

“The Government accepted that regulations were needed to govern how monies are used and transparently reported on a timely basis,” he said.

“I am glad to see that the final regulations also include the requirement for quarterly detailed reports to be gazetted and the annual audit to be presented to Parliament by the Principal Auditor.”