Standing Finance Committee to begin examining Budget
The Standing Finance Committee of Parliament will today begin to go through the National Budget.
Last Tuesday, finance minister Dr Peter Phillips tabled a budget of $539.3 billion.
This represents an increase of 7.7 per cent over the $500.7 billion tabled last financial year.
However, in real terms this year's Budget is likely to be less when inflation is factored in.
As at February, the country’s inflation was at 7.2 per cent.
There are projections it could pass eight per cent as at March 31, 2014, which marked the last day of the past fiscal year.
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