News
Key legislation passed
Posted:
2010-03-12 17:50:31
The Government today used its majority to approve one of two key pieces of legislation that must be passed as part of the agreement with the International Monetary Fund (IMF).
The bills to amend the Financial Administration and Audit Act and the Public Bodies and Management Accountability Act were piloted by the leader of Government Business in the Senate, Dorothy Lightbourne.
She said the amendments to the Acts would mean more responsibility for the Government.
This includes ensuring that the fiscal balance is reduced to zero by 2016.
Senator Lighthourne says under the proposed Financial Administration and Audit Act, the ratio of the public sector wage bill to the gross domestic product must also be reduced.
The Opposition expressed general support for the proposed changes to the Bill. But one of its Senators, Mark Golding insisted that the Bill to amend the Financial Administration and Audit Act, be worded to make it impossible for deferred financing to be re-introduced.
However Government senator Arthur Williams says under the proposed law there is no possibility for differed financing in the future.
His intervention was not enough to satisfy the Opposition. When the matter was put to a vote, the Government used its majority to approve changes to the law without the amendment that Senator Golding had wanted.
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Source: Gleaner/Power 106 News
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