Government takes new budget approach

Government takes new budget approach

Accounting firm Ernst and Young assists with the budgetary process.

The Government of Saint Lucia hosted a two-day financial workshop yesterday, for some of the main expenditure ministries as part of the Budget preparation process.

The workshop was conducted by Ernst and Young (Caribbean), and comes on the heels of a forum held last week that allowed the ministries an opportunity to present their budgets for consideration to the Minister for Finance.

Director of Finance, Cointha Thomas, stated that the forum revealed a few inadequacies and areas where improvement is needed to deal with the government’s financial challenges, while the financial workshop provided clarity on the government’s strategic direction and how the ministries plan to achieve the set strategic goals.

Sen. Hon. Ubaldus Raymond, Minister in the Ministry of Finance, said budgets over the years have been rushed and lacking. This year’s budget, he explained, will be one with a difference. He added that because Ernst and Young already had a working relationship with the government in the area of tax reform, it was only fitting that they continue to assist in the budgetary process.

Maria Daniel, a partner at Ernst and Young (Caribbean) said the focus of the two-day workshop is to enable the ministries to think differently about how they spend money. Daniel further explained that each dollar must be viewed differently in terms of its return investment.

Over 60 persons from the government ministries attended the workshop held at the Financial Administrative Centre, at Point Seraphine. The workshop began on Tuesday, Feb. 14 and ends on Wednesday, Feb. 15.

16 Comments

  1. Sad-But-True
    February 16, 2017 at 9:23 am Reply

    Hahahaa. Evil Chastanet is busy enriching his friends with our tax payers monies. ‘But the Kontree Broke, tight yuh waist’. And the poor Ex-slaves who voted their own oppressor into office cyan get no ‘Ching Ching’ in de pocket.
    Evil Chastanet went as far to ensure his white wife gets a pension on the backs of their St. Lucian slaves by legislation, though she has never worked in government.
    A slave will always be a slave. And will hate when truth comes their way.

    Resign, Evil Chastanet.

  2. Anonymous
    February 16, 2017 at 9:29 am Reply

    St.Lucian’s are the most ridiculous set of people they vote for expecting money in day pocket but don’t vote for making the country better ull swear st lucia dont have skools cuz they dont learn

  3. Sad-But-True
    February 16, 2017 at 9:31 am Reply

    On another Note; can’t believe that Ubaldus Raymond is so shameless to have the guts to show his face on national TV? Really dude? Have you no shame at all? A whole party of headless immoral rejects all over the place.
    Trust me, none of you will be there in this next General Elections. So steal as much as you can for now.

  4. Anonymous
    February 16, 2017 at 9:39 am Reply

    I agree with you sad but true. The Flambeaus are ashame. I have not seen anything proper going in this country.

  5. R
    February 16, 2017 at 9:58 am Reply

    Change is good!

  6. Anonymous
    February 16, 2017 at 9:59 am Reply

    Just cool out you guys. Just wait and see.

    1. 0147258369
      February 16, 2017 at 10:17 am Reply

      I agree, wait and see. If it fails you can go ahead and say, “I told you so.”

  7. Anon1
    February 16, 2017 at 10:09 am Reply

    You rightfully said that the country is BROKE!

    And you’re out sourcing Budget preparations / Budget Statement to Ernest & Young.

    But wait what about the Financiers within the Ministry Of Finance, so you mean to tell me we’re paying them as well as E&Y.

    Wow we are DOOMED. The IMF will soon be rocking up on our shores.

    Lucians E&Y Services don’t come cheap at all.

  8. Anonymous
    February 16, 2017 at 11:29 am Reply

    Why people are so egar to pass judgments on things that is not yet materialise.
    You’ll say shame on uwp but shame on you’ll commentors

  9. Alvin Ernest
    February 16, 2017 at 12:21 pm Reply

    This is pointless, the problems of fiscal management cannot be solved by the garnish of financial representation and the dance that follows. These big consultancies are struggling to demonstrate their value to the developed world, they are living on borrowed time… what people demand is pragmatic and transparent management of policies that have been duly debated and ratified by parliament, All St Lucia will gain from this is a big bill, that the country already cannot afford. The politicians need to focus on creating more business opportunity and that as I have already stated in the context of St Lucia begins with a continuous process to reduce St Lucia’s import bill, thereby enabling an advancing share of the value of St Lucia’s total consumption to benefit the island’s economy. St Lucia must create institutions (to identify best practice and local substitutes) in every vertical sector (e.g. the Culinary Institute in the Food & Beverage sector) with a mandate to identify how locally sourced goods and services can displace what is currently being imported. This can and should be done without affecting the quantity and quality of finished goods & services offered in the respective sectors… Important sectors include Food & Beverage, Textiles, Consumer Electronics, Electricity, Water, Telecoms, Internet, Healthcare….

    1. Anon1
      February 17, 2017 at 7:53 am Reply

      Hear Hear!

      Agriculture, Agriculture Agriculture.

      We need to be more self sufficient – grow and rear our own.

      The Government should be more focused on that than trying to attract more Hoteliers to island by giving them 100 year Tax Holidays because they employing a couple 100 Lucians.

      The Tourism Industry is way too much of a volatile industry for us to be investing the amount which have been and being invested.

  10. Anonymous
    February 16, 2017 at 12:48 pm Reply

    Chastenet is so very talented. Look how he has changed everything even things that did not need change. Out of jazz he has gotten six other festivals. He flies every week and trains every month at exorbitant costs. Good prime minister. I’m so impressed.

  11. Anon1
    February 16, 2017 at 12:51 pm Reply

    “If its not broken, lets still fix it!”

    Mr Out Source PM. You might as well outsource all the other Ministries.

  12. Anon1
    February 16, 2017 at 12:55 pm Reply

    “Sad-But-True”

    Slight correction to the Pension issue, it’s when a PM dies the wife of the deceased PM will get his Pension.

    I like to give Jack his jacket.

    What was absolutely EMBARASSING was the current PM/Gov trying to pass the Bill using Lady Janice’s name without even discussing it with her.

    That’s was a MAJOR embarrassment however I don’t think Ch-ass has any shame.

    Ch-ass himself knows full well that Sir John made sure his wife children and gran children are catered for. He’s know how much land the Compton’s own down South.

    Not to mention the overseas properties they own (out right ie no mortgage) in exclusive HIGH END locations.

    Trust me if all they assets were to be liquidised it could probably clear St Lucia’s debt.

  13. Lookingin
    February 16, 2017 at 4:51 pm Reply

    Hiring an accountancy firm to prepare /advice on st lucia”s government budget is grossly a slap in the face for this nation.
    The country has already lost all integrity in virtually all its ministers, and having ubaldus make a statement pertaining to any government business is spitting in your face and calling it rain. How do people in this country st lucia accept all that madness, I am ashamed of you guys.

    Demonstrate for your rights, do what is better for the country, because really anything is better than what you have there at the present t.

    1. Anon1
      February 17, 2017 at 7:28 am Reply

      Vote of NO CONFIDENCE in this administration.

      I heard the PMs poodle on a Talk Show yesterday mentioning “fake news” with regards to Ernest & Young and people are misinformed.

      To the “PMs Poodle” you neglected to give the answer to very pertinent question which was actually raised by caller prior to your call, which I would assume you heard but chose to ignore.

      And the question was “How much are we the People of St Lucia are being charged by Ernest & Young for the refresher course?

      We demand to know and entitled to know!

      Where is the supposed TRANSPARANCY!

      That’s why I would encourage Civil Servants to continue LEAKING documents.

      If you can’t be open and honest with how you manage our monies then let the leaks continue. Actually they should be a lot more.

      You’ll wait till someone arranges to HACK your servers and reveal to people the true extent of your incompetence!

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