2017 Budget

PM O’Neill said there will be a clarification of some measures that were included in the 2017 Budget that are intended to ensure that entities who are not paying their fair share of tax will be compelled to do so.

“We need a review of some taxation measures so as to eliminate any confusion that people may have,” the Prime Minister said in a statement.

“This includes measures in the budget that have been raised by the public and businesses.

Chief Secretary to Government, Isaac Lupari, challenged all heads of departments to change their attitudes and work together for the common good of the nation.

He said 2017 will be a tough year for the country because of budget cuts to many government expenditures.

There will be a presentation of the 2017 Budget by Treasury Secretary Dairi Vele and Planning Secretary Hakaua Harry during the event.

The Government with 75 members  bulldozed the Budget despite the Oppositions queries.

The Opposition queried that there was a typographical error in the Appropriation (general public services expenditure 2017) Bill 2016.

The debate started with Sinasina Yongumugl MP Kerenga Kua asking the Treasurer to explain the figures in the bill when he was about to do the second reading.

He said the figures in the Bill was K21 billion while the 2017 Budget is only K12.9b

The budget was passed 75-0.

This will be the fifth consecutive budget by the O’Neill led Government and the last budget in this term of Parliament before the national election.

The 2017 Budget is set at K12,965.4 million against a revenue envelope of K11,088.8 million.

This comprise of K9,182.2 million in tax revenue, K1,045.3 million in grants and K1,245.7 million from other sources of revenue.

However, Opposition Leader Don Polye debated and termed the 2017 budget as a scam to defraud the people of this nation.

He said the Government has been very careful to reduce expenditure where it could be sustained, while also continuing to invest in areas that are vital for ongoing economic and social development.

“The best budgets are not those that are delivered with an abundance of revenue to draw from, but are budgets that are delivered in tight fiscal times that also increase essential services.

“The difficult global economic environment with reduced commodity prices and uncertainty in key trading partners has placed pressure on our economy.

Juffa describes 2017 Budget as ‘insult’ to people
http://www.looppng.com/content/juffa-describes-2017-budget-%E2%80%98insult%E2%80%99-people
Governor for Oro Garry Juffa has tagged the 2017 Budget as an assault on the ordinary people of Papua New Guinea.

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Juffa queried the hike in income taxes and the reduction of funding for health and education which are the two vital services the ordinary Papua New Guineans deserved.

He said the Government was punishing legitimate tax payers and allowing tax evaders to get away scot free.

He further added that the promise for increase in funding to provinces is totally misleading as Provinces never got their functional grants on time and many public servants were paid but unable to deliver their services due to no funding.

His Treasurer Patrick Pruaitch delivered one yesterday when he presented this Government’s 5^th consecutive budget which is set at K12,965.4 million against a projected revenue envelope of K11,088.8 million.

This compares with an expenditure bill of K13,834 million in the recently passed 2016 Supplementary Budget after a K928 million was cut from the original budget to prevent a budget blow out. The revised revenue forecast in the Supplementary Budget was K11,722 million, slightly higher than the 2017 revenue forecast.

The National Government has allocated K10 million through the PNG sports foundation for the completion of the stadium.

The Papua New Guinea Sports Foundation received K40 million including the consolidated K11m funds as Treasurer Patrick Pruaitch handed down  the Government’s  K12.2 billion 2017 Budget yesterday.

This has resulted in the Government handing down a 2017 deficit budget of K12.9b on Tuesday.

Treasurer Patrick Pruaitch when handing down the budget said it has been no secret that the country have been facing economic crisis.

“We have been forced by circumstances to tighten our budgetary situation further through Supplementary Budgets in 2015 and 2016.

“In doing so we have maintained a conservative course in terms of fiscal sustainability and will be well placed to capitalise on developments when global economic conditions improve.”