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Pre-Budget outline necessary

Published:Monday | January 25, 2010 | 12:00 AM

In urging Jamaican savers to agree to the rescheduling of $700 billion of the Government's domestic debt at lower interest rates, Prime Minister Bruce Golding promised transparency and accountability in the management of the country's affairs in general, and the economy in particular.

He was entering a new compact, as he called it. That is good. It is now sooner rather than later for the administration to begin to deliver on its obligation.

Fiscal responsibility

For instance, it is urgent for the administration to unveil the specific outlines of its proposed fiscal-responsibility legislation so that people can judge, and comment on, its likely efficacy.

It is important, too, that Finance Minister Audley Shaw provide substantial and substantive pre-Budget outlines that go beyond fiscal targets, but to the specifics of the programme, including where, and how, expenditure is to be contained.

These are not unreasonable expectations given the sacrifices that savers are undertaking in the national interest.

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