Finance Minister’s budget prices raises questions

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Finance Minister’s budget prices raises questions

Questions are being raised around the numbers around which the Government has based its budget.

Finance Minister Colm Imbert based the budget figures on an oil price assumption of US92 dollars and 50 cents per barrel.

Natural gas price assumption will be US6 dollars per MMBTU.

Former minister in the Ministry of Finance, Marian Browne noted that these are the two biggest assumed prices in the budget in recent history despite a decline in production.

He suggested that contrary to the comments by Minister Imbert, there is no turnaround in the economy.

Mr Browne also noted that one of his biggest takeaways from the budget is the Government’s firm stance on salary increases.

He said the Government has seemingly set a marker and has indicated that it will not offer more than it has to trade unions which was emphasized by the stance taken at the weekend regarding TTUTA.