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{
    "id": 607111,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/607111/?format=api",
    "text_counter": 200,
    "type": "speech",
    "speaker_name": "Sen. Billow",
    "speaker_title": "",
    "speaker": {
        "id": 260,
        "legal_name": "Billow Adan Kerrow",
        "slug": "billow-kerrow"
    },
    "content": "Mr. Deputy Speaker, Sir, I beg to move:- THAT, this House adopts the Report of the Standing Committee on Finance, Commerce and Budget on the Medium Term Budget Policy Statement, 2015, laid on the Table of the House on Wednesday, 25th February, 2015. Mr. Deputy Speaker, sir, on behalf of the Members of the Committee on Finance, Commerce and Budget and as required under the Second Schedule of the revised Senate Standing Orders, I want to present the Committee’s report on 2015/2016 Medium Term Budget Policy Statement. Mr. Deputy Speaker, Sir, we had an opportunity to deliberate on it and make recommendations. It is these recommendations that are in Report that we would want Members to vote and adopt. It is significant to mention that the purpose of the approval of this Report on the Medium Term Budget Policy Statement is to communicate the Senate’s position on the preparation of all subsequent budget documents for the remainder of this year beginning with the Division of Revenue Bill, which will, probably, be out in the next couple of weeks. It is important to also note that this Budget Policy Statement informs the preparation of annual estimates. It is the policies and the strategies of the Government that inform the process of making the Budget. This is what the Budget Policy Statement is about. Mr. Deputy Speaker, Sir, we had an opportunity to engage the public and I want to urge Members to get a copy and look at it. There is also the timeline that we are required to submit, latest, today 26th February, 2015, so that the recommendations we have can be taken on board. In particular, the Budget Policy Statement looks at the following and includes the following issues:- (i) As assessment of the current state of the economy and the financial outlook over the medium-term for the next three years including the micro-economic outlook. (ii) The financial outlook with respect to the Government revenues, expenditure and borrowing for the next financial year and over the medium term. (iii) The proposed expenditure ceilings in the three arms of Government. (iv) The fiscal responsibility, principles and the financial objectives over the medium term including the limits on the annual debt. The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}