Wednesday, August 10, 2022

Chastanet: Proposed Amendments To Public Finance Management Act Undermine Public Trust, Good Governance

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Press Release:-  The Government’s proposed amendments to the Public Finance Management Act will set Saint Lucia on a backward path in managing public spending.

Ahead of Tuesday’s Parliament Sitting, Leader of the Opposition Honourable Allen
Chastanet, reminded that the Public Finance Bill was passed in November 2020 by
the United Workers Administration and set forth the rules, systems and processes for
the mobilization of public monies, the allocation of public funds, the facilitation of
public spending, the appropriate accounting and reporting of these expenditures and
the auditing of the results at the end of the cycle.

“This Act is part of a well-functioning Government to ensure monies are managed in
a manner that is planned, recorded and reported in an efficient and effective way,”
noted Chastanet.

“Yet we are learning that the SLP Administration intends to make several amendments to this Act that will see more power given to the Minister for Finance, less oversight over Government spending and even less accountability.
Among the amendments is the timeframe for the Budget presentation, the number of
supplementary budgets that can be presented in one year and the reallocation of
capital expenditure with no control.”

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Chastanet explained that Saint Lucia was lauded by international bodies for its moves towards adopting the fiscal rules and the formulation of sound fiscal policy which included financial transparency, planning, reporting and accountability.

“The changes by the present administration sets us back and weakens public trust
and good governance. When we passed this Act it replaced the often problematic
Finance (Administrative) Act and it was part of a broader reform to strengthen public
financial management,” Chastanet noted.

“We strived to ensure Saint Lucia was in line with international best practice in Public Finance Management and this is now being threatened.”

The former Prime Minister also noted that despite what it stated in the past the SLP
Administration has indicated its intention to have the Bills go through all their stages
in one sitting.

“Once again the hypocrisy from this present Administration is unashamedly glaring,”
said Chastanet.

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

11 COMMENTS

  1. Only now razor blade Chastnet . I just loose my apatite for your garbage.. You are really disgusting . please tell us about you six years of corruption and then you will become relevant.

  2. Hahaha its amazing how some ppl can art art yap yap yap for five years straight, every morning, every day at lunchtime, every Thursday night, even on weekends some ladies yapping. Pan man yap and beat pan so much, now he complaining they short change him. Now the table has turned everyone should stay quiet. Some people behaved like they does eat, sleep and shit with the politicans. Let the politicians respond to the issues at hand.

  3. “Was a part of a well functioning government”? What government this jackass talking about? I know he eh talking about the “government under his leadership. It was chaos everywhere! This Guy will say one thing and this Jackass will say something else or This Jackass will say something now and two minutes later . . . I didn’t say that uh. Members under the “ass” didn’t even trust him.

  4. Well for the barking dogs on here from the SLP. I support the move to have a properly functioning public financing Act. SLP must be brought to account and all other ministers. you rabid red dogs don’t even care to understand that its not about party. it is about having a properly functioning country that ALL can benefit from in the short and long term.

Comments are closed.

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