A year or so, following the 1967 Anguilla Revolution, the island’s annual budget was hardly anything to talk about: perhaps as little as EC$150,000. That was an indication of a grossly under-developed public and private sector bolstered by what was then a largely remittance economy. Now, fifty years later, in 2017, Anguilla’s budget, comprising Recurrent Revenue, Recurrent Expenditure and Capital Expenditure, has peaked to $256,290,216. This is the amount now required to finance the public services for the year – as provided for in the Appropriation (2017) Bill, 2016 to come into operation on January 1, 2017.
The Budget Address was delivered in the Anguilla House of Assembly on Monday, December 5, by Chief Minister and Minister of Finance, Mr. Victor Banks. Entitled “Anguilla at 50: Celebration and Realignment”, the address had as its more elaborate theme: “Celebrating Fifty Years Since The Revolution; Transforming, Empowering And Building Our Nation”.
Referring to the overall budget, excluding capital expenditure, Mr. Banks spoke as follows:
“Mr. Speaker, the 2017 Estimates of Revenue and Expenditure estimate an overall expenditure (including principal repayments) of two hundred and thirty-five million nine hundred and forty-three thousand five hundred and eighty dollars ($235,943,580). Mr. Speaker, the Recurrent Expenditure for the fiscal year 2017 is estimated at EC$211.96 million, without amortisation. This is a 4.8 percent increase over the 2016 fiscal year of EC$202.25 million. This increase over the 2016 budget is attributable to a number of Government undertakings across the various budget economic classifications.
“Personnel Emoluments will increase from EC$87.31 million to EC$88.63 million. This slight 1.5 percent increase is largely due to the filling of positions in vital areas such as Anguilla Fire Services, Customs, Inland Revenue and others. Retiring benefits will increase from EC$10.34 million to EC$10.76 million, a 4.0 percent increase to facilitate the additional retirees in 2017.
“Interest Payments increased from EC$15.59 million to EC$17.44 million which is the largest increase of 11.8 percent. This increase in interest payments is primarily to deal with new debt contracted in relation to the banking resolution and the projected disbursements on the Anguilla Community College loan. Goods and Services increased from EC$45.16 million to EC$ 49.33 million, a 9.2 percent increase over 2016. This increase is chiefly due to training, insurance, maintenance services, and supplies and materials. Lastly, Current Transfers which consist of disbursements to our Statutory Bodies increased from EC$43.93 million to EC$45.80 million. This 4.0 percent increase is largely due to public assistance, health services, community and youth initiatives and sports.”
Meanwhile, the Appropriation Bill shows the distribution of Recurrent Expenditure as follows:
• Governor’s Office $30,524,412
• Ministry of Home Affairs, Economic
Development, Information and
Broadcasting and Environment 7,324,758
• Ministry of Finance, Economic
Development, Investment,
Commerce, Tourism, Lands
And Physical Planning 76,792,604
• Ministry of Social Development 79,280,345
• Ministry of Infrastructure,
Communications, Utilities
And Housing, Agriculture, Fisheries
And Information Technology 18,038,810
Total Recurrent Expenditure 211,960,929
Capital Expenditure was listed as follows:
• Ministry of Finance, Economic
Development, Investment, Commerce,
Tourism, Lands and Physical
Planning $3,524,270
Ministry of Social Development 10,525,300
• Ministry of Infrastructure,
Communications, Utilities and
Housing, Agriculture, Fisheries
And Information Technology 30,269,717
Total Capital 44,329,287
Total Recurrent and Capital
Expenditures 256,280,216
As indicated above, this is the largest budget ever presented in Anguilla. In his address, the Chief Minister and Minister of Finance said there were no new taxes to subsidise the budget. What he did not say, however, was that there were a number of areas where taxes and fees were increased.
