GSD Deputy Leader tells Picardo ‘you cannot fool all of the people all of the time’

Update
GSD Deputy Leader tells Picardo ‘you cannot fool all of the people all of the time’

Date : 
28/04/12

Ref   : 
PR59/2012


GSD Deputy Leader tells Picardo ‘you cannot fool all of the people all of the time’


It is obvious that Mr. Picardo wants to paint a picture of public finances to suit his own political ends, even at the expense of the truth. To suggest, as he does, in his communiqué that the GSLP-Liberals did not conduct an aggressive campaign at the last election suggesting to the electorate that the state of public finances were in dire straits is very foolish.

Indeed, he has spent the last five months trying to justify that campaign.
Daniel Feetham said Mr. Picardo thinks that: “He can fool all of the people all of the time or that people have memories like goldfish. It is obvious that Mr. Picardo is gearing himself up either to explain away a record budget surplus or manipulate the budget surplus downward by some very creative accounting at this year’s budget.

He now talks about other expenses and losses that Mr. Caruana had not taken into account when he predicted a record budget surplus during the opening of Parliament in December last year. Well my comments on the budget surplus were based on the answer he gave to a question from Mr. Caruana on 15 March this year, four months after the opening of Parliament. I will let people make up their own minds by referring to the exact question and the exact answer: Mr. Caruana asked: “Will the Chief Minister say what has been the overall Government Revenue and Expenditure in the current financial year as at 29 February 2012?” The reply was: “Tentative overall Revenue in the current financial year to 29 February 2012 stood at £404.9 million and tentative overall Expenditure stood at £351.6 million”. That would mean a tentative budget surplus as at that date of £53.3 million.”

The figures are always expressed to be tentative at this stage of the financial cycle because they are subject to normal Treasury adjustments, but they are bound to take into account expenditure of the sort referred to by Mr. Picardo in his communiqué. Therefore, unless the Government chooses to manipulate the surplus downwards by, for example, charging extraordinary payments to the Consolidated Fund in favour of other Government Funds, Gibraltar can expect a record budget surplus this year.

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GSD Deputy Leader tells Picardo ‘you cannot fool all of the people all of the time’

'you cannot Deputy fool Leader people Picardo



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