Further evidence of fiscal ill-discipline and profligacy of the previous Douglas Administration has been uncovered with the revelation of a huge $82.3 million in over- expenditure . The amount was what the government spent in excess or up and beyond what was provided for in the 2014 budget.
According to the Ministry of Finance, two Ministries overspent in their 2014 budgetary allocations under recurrent and capital expenditure in the sum of $40.2 million and $42.1 million, respectively.
Commenting on the situation Prime Minister Harris said “it is said when government engages in hide and seek and provides budgets which are grossly inadequate for its work, in order to hide their oversized spending they under budget and under report expenditure. The size of this over expenditure was over $82 million which my government will have to bring to account which indicates the fiscal ill discipline, irresponsibility, tomfoolery and shenanigans of the Douglas regime”.
This goes against all budgetary best practices and is frowned upon by International Financial Institutions like the IMF and World Bank.