Professor Biman Prasad outside Parlaiment this morning

The National Budget address in Parliament by Professor Biman Prasad:

*It is a tough but fair and balanced budget says Professor Prasad

*Immigration Department needs more efficiency

*Fiji is well off its target of renewable energy development. Urgent action needed.

*Mechanisms being put in to ensure ease of doing business is faster than before

*Last 10 years Fiji slumped in ease of doing business

*$50.8m for Office of the Prime Minister

*RFMF gets $103.1m

*$183.7m for Fiji Police with 100 new officers. $700,00 for police beat patrol.

*Registrar of Title gets 30 new employees

*$5.4m for Ministry of Justice

*$7m for Auditor General’s Office

*Foreign Affairs Ministry is allocated $4m for restarting missions Washinton, Malaysia, PNG and set-up in Israel

*$12.4m for Home Affairs and Immigration

*$89.8m for the Finance Ministry

*Local Government Ministry is given $29.4m

*Housing Ministry gets $25.7m.

*Rural and Maritime Ministry is allocated $29.1m

*Ministry of Youth and Sports gets $19.5m

*Trade, MSME and Communications Ministry gets $116.5m

*Tourism Fiji gets $7m

*Lands Ministry gets $30.1.m

*Fisheries and Forestry gets $41.6m

*Ministry for Multi-Ethic and Sugar industry gets $51.7m. $49.7 for sugar

$3m for those properties affected by termites in West and North

*$22.1m for Waterways

*Subsidy for weedicides and pesticide for rice, ginger, dalo and casava farmers

*Agricultural Ministry allocated $95.2m, increase of $37.3m

*PWD back with a set-up cost of $5m

*$100.6m for road maintenance

*Fiji Roads Authority gets $387.6m

$148.2m for a new Fijian Scholarships

*However, a bond will be put in a place.

*All outstanding TELTS debt is being forgiven by the coalition government totaling $650m

*$53.5m for USP and $43.4 for FNU

*Back to school support to continue for those on $50,000 or less household income

*Free educational and transport assistance gets more than $100m

*Education sector gets highest allocation of $845m

*$2.5m for kidney dialysis assistance which goes up from $150 to $180

*$11.6m for nurses’ salaries and overtime

*Heath Ministry gets $453.8 a $58.7 increase including salaries of new staff which includes nursing assitants and nursing aids

*$4m for i-Taukei land development

*Turaga-Ni -Koro allowances increased

*i-Taukei Ministry gets $38.6m

*Ex-Servicemen get 15% increase in their allowances

*More than 1500 Pensioners of FNPF are able to access to government pension allowances

*Ministry of Women. Children and Social Welfare get $200.2m an increase of $52.5m

*Minium wage rate to be reviewed

*Pay review for Civil Servants underway in next 6-9 months

*FNPF contribution rate back to 18% from January

*Rewa River water project gets $51.1 to complete works

*$250.8m for WAF

*Cut in ministerial travel allowances announced. This also includes cut in the incidental allowances.

*$200m for health infrastructure

*Tax incentives for warehouse development removed

*Changes in Capital Gains Tax structure

*New and used motor vehicles import excise duty up by 5%

*Sugar tax in products up to .40c

*Excise tax on alcohol and tobacco to increase by 5%

*Departure tax to increase.

*Coporate tax rates up to 25%

*Government reduces duties on some food products

*VAT to increase to 15%

*As of August 1, there will two rates of VAT with 22 items including prescribed medicines will be zero rated

*We to invest in our future generations now.

*We will be making some tough decisions that were side stepped in the past

*Business as usual cannot continue

* Expenditure stands at $4.3b and revenue projected at $3.7b. The deficit is 4.8 percent of GDP

*Debt to GDP ratio likely to go to 79% by next year

*Remittances to cross $1.2b mark this year

*Tourism is going great but cannot rely on it alone

*International economy to have an impact on Fiji

*Economic projected growth by 8% or even higher this year

*This is a consultative government

*After a decade we reconvened the cabinet sub-committee on budget says Professor Prasad

*Rebuilding our future together is the theme of the budget

*Fiji needs to be seen as a leader which can bring the region together

*We must be seen keeping our promises with its people and also the region

*No government should abuse power

*Begun to rebuild trust with the University of the South Pacific

*News media is an important tool for information

*Economic summit was a success says Professor Prasad

*This government values people says Minister

*We must find money to fix problems sand debt services: Professor Prasad

*We must learn how to avoid the past in the future

*Water infrastructure is in tatters

*Lack 800 medical professionals and health infrastructure is in bad shape

*CWMH does not have a laundry years after a fire

*Current government inherited a $10 billion debt

*We need $536m for interest and $516m principal payments for debts

*It remains mystery on how $120m was spent on Walesi

*No money was put aside for infrastructure repair

*COVID wasn’t only to blame for economic demise

*Last 10 years average economic growth was little over 3%

*It is a grim state of affairs says Professor Prasad

*Finance Ministry officials ready to meet Opposition MPs post budget announcement

*Professor Prasad says they will make mistakes but will not hide from it.

*We must rebuild confidence in our business and productive sectors: Professor Prasad

*We all have a role to play says Professor Prasad

*Finance Minister, Professor Biman Prasad is now making his statement.