Govt spending plans top £665m in 2019
File photo dated 26/01/18 of money, as the Bank of England is expected to keep interest rates unchanged at 0.5% next week, but the meeting will be watched closely amid expectations over another hike in May. PRESS ASSOCIATION Photo. Picture date: Sunday March 18, 2018. See PA story ECONOMY Rates. Photo credit should read: Dominic Lipinski/PA Wire
The Gibraltar Government yesterday published the Appropriation Bill for 2019 which will see the Chief Minister Fabian Picardo ask Parliament to vote for more than £665m in recurrent and capital expenditure.
This represents a £14m increase in the sum the Government sought to appropriate for the last financial year.
This Bill sets out the financial requirements to meet the Government’s projected expenditure for the financial year ending March 31, 2020 and will form the basis of the Budget Debate later this year.
It provides for Mr Picardo to ask Parliament to vote the sum of £584,244,000 under the Consolidated Fund for recurrent expenditure.
A further sum of £81,989,000 will be sought by the Chief Minister for investment in projects under the Improvement and Development Fund to provide for capital expenditure as reflected in Part 3 of the Bill.
Within the Consolidated Fund, the biggest areas of expenditure on which Mr Picardo will be asking Parliament to spend taxpayers' money will be health which requires £129m in expenditure, according to the Government.
Care in the Community requires £41m, utilities £59m and education £52m.
The Chief Minister, Fabian Picardo, said: "I am very pleased that this Bill will seek further investment for capital projects for our community that will principally benefit working people.”
“I am looking forward to the Budget Debate when I will be proposing more spending on our health services and on education as well as in infrastructure and particularly on our utilities.”
“Leading a government that continues investing in our community and spending in areas that most benefits ordinary working people, our children, young people and the elderly is something that makes me very proud indeed."
