Budgets… and spending

In our dear Mudland, budgets have a story of their own. We ain’t talking about personal budgets of families – which is another story!! But they’re fundamentally related to the national budget that’s gonna be presented next Monday in the National Assembly. They both deal with how you gonna spend the money you have – or will have within a given time. With personal budgets, most Guyanese don’t have one since they just spend what they get as soon as they get it!! They don’t budget!! And then bitch and moan the next day that they’re broke – and can you spare a buck!! Or in the present climate, can they get another cash grant?!!
Countries, however, are supposed to present a plan as to how much money they’re gonna get in the next year (income) and state exactly how they’re gonna spend it!! This budgeting is supposed to lend some discipline to spending by the Government… And you’d think by now folks woulda learnt from the Government!! But no Siree Bob – we spend like our pork knockers of yore who literally burnt their money when they came out of the bush!! It’s our kulcha!!
So, from where does the Govt get its income? Well, if you work, you’d know that before you even collect your pay cheque, the Govt had dipped in to take out their taxes!! Businesses are supposed to declare their income, from which they’re supposed to send a stipulated percentage to the Govt!! But as we know, when it comes to money, “honour systems” will be honoured in the breach!! So, we hear about tax cheats!! But more frequently, high-priced lawyers are hired to play fast and loose with the tax laws to pay the least amount of taxes!! Finding loopholes is the name of the game!! Lastly, the Govt collects on taxes and carries on imported goods! And the biggest after Exxon struck oil is the royalties and income in the National Resource Fund!! That’s become our “ace in the hole”!!
But most folks’ eyes glaze over when they hear about the revenues – it’s the spending or expenditure that grabs their attention!! And being human, we want to know what’s in it for us – mostly as of late, cash grants!! This go-around, it’s not by accident that the sneak peek revealed $100,000 each is budgeted for every adult! In the past it used to be how many taxes might be increased or decreased… But after oil there is no increase, and folks now kvetch if there are no decreases!! The decrease in taxes on salaries – while it leaves more money in people’s pockets – just doesn’t have the same impact as those direct cash infusions. Increases in salaries and pensions etc. do grab attention. And your Eyewitness knows these are in store.
The Government focus for the last five years has been building infrastructure… But the novelty has worn after the BJ Dem River Bridge. So even most of the budget might go in this direction it’ll have the least impact on the masses!!
The buzz is on whether there will be an election of the LOO before the Budget is read!!

…and the elite
The “World Economic Forum” brings together the biggest leaders in Government and business at the exclusive ski resort in Davos Switzerland. They have infinite budgets!! They loll about in luxury to supposedly discuss how they could generate wealth – that’s supposed to seep down to the masses!! Slowly!!
This year, however, with the entire edifice being shaken by President Trump’s declaration that the US just gotta have Greenland, the usual bonhomie is being strained!! This year’s theme – “A spirit of Dialogue” – will be tested since Trump will be showing up!!
Denmark’s leader decided to stay away!!

…for growth
The Guyanese gotta decide once for all whether they want the Govt to blow the oil windfall by spending like a pork knocker out of the bush – or to lay a foundation for the future.