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Jan 11, 2021

Briceño Administration Establishes Contingencies Fund

John Briceño

Through the Finance and Audit (Reform) (Amendment) Bill of 2021, Briceño’s government also proposes the establishing a Contingencies Fund to be used for urgent and unforeseen expenditure for which no other provision exists.  It is the first time in history that a contingencies fund is being created.

 

Prime Minister John Briceño 

“The constitution recognizes the contingency fund and no government has ever enacted the contingency fund. We’ve seen successive governments having emergencies and they spend the money because in most instance they need the money and they have to spend it and then something don’t even come back to the House later on, or they come back years later, to be able to get the approval to spending that government. So what in effect we are doing is for the first time in Belize we want to establish a contingency fund so that if during the course of the year there is an emergency you would have access to this money to spend and then come back and report to the National Assembly. Madam Speaker this bill has the recommendation of the Cabinet.”


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