The Bill appropriates certain sums of money for the use of the public service for the island of Nevis for the financial year commencing on January 01, 2022 and ending on December 31, 2022.
Hon. Mark Brantley, Premier of Nevis and Minister of Finance in the Nevis Island Administration (NIA), laid the bill in the parliament on Tuesday, December 07, 2021. The parliamentarians on the government benches and the Opposition Member of Parliament provided robust debate over the following two days before the bill was passed unanimously on December 09, 2021.
The bill allows for total government expenditure of $229,044,850 for fiscal year 2022.
The Premier described the Budget as “practical”, free of new or increased taxes, which is aimed at “Recapturing the Momentum; Restoring Fiscal Sustainability”.
“I have also sought to carve out a pathway to restore growth for the upcoming fiscal year 2022 and beyond, in a manner that will regain momentum at a level prior to the onset of the pandemic thus restoring fiscal sustainability in the economy. This pathway is an indication that we are putting the necessary mechanisms in place to deal with external and home-grown challenges.