CABINET NOTES: Eleven officials from the Ministry of Finance, Customs and Excise Division, the Inland Revenue Department and the Budget Office came to Cabinet to discuss Budget 2025.
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The Budget Office has already requested the business plans from all ministries and the final budget will be completed by the 14th November then to be sent to the printers. By the 28th of November the Estimates will be circulated and the Throne Speech is to be delivered on that same day.
On 5th December, the Budget presentation will take place in Parliament, and on 10th December the budget debate will commence.
ii. The Cabinet decided that the language in the law governing exemptions of ABST will be changed from “zero-rated” to “exempt”. This change in nomenclature is to be interpreted by the Ministry of Finance to mean no refunds on ABST paid into the Treasury will take place.
iii. The Boys’ Training School is to be further upgraded. In the 2025 Budget, a sum has been set aside to improve the conditions under which the boys will live.
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iv. The building at the old Pan Am Base is to be used as a detention center for boys who have been found guilty of disobeying the law and have been sentenced to incarceration.
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