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Tabling of National Budget delayed

Posted: March 28, 2012

The government has indicated that the 2012 - 2013 budget will not be presented in Parliament, until May.

The budget was expected to be tabled next month, at the start of the new financial year.

It is widely expected that the budget will be  influenced by  the negotiations with the International Monetary Fund (IMF) for a new agreement to back the economy.

Finance Minister, Dr. Peter Phillips, told today's (March 28) sitting of the Tax Reform Committee, the delay is due to on-going negotiations with the IMF.

Dr. Phillips added that there is a need to review the budget following the change in administration.

He adds that government wants to have Cabinet consider the report, on tax reforms in preparation for a tax policy White Paper.

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