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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Mini budget in November ahead of polls next year

Mini budget in November ahead of polls next year

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Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
The Treasury is preparing a mini budget (vote on account) in November replacing the normal 12-month budget in case a decision is made to hold presidential or parliamentary elections next year, informed sources said.

The sources said that the Treasury has been advised to prepare a mini budget but will revert to the normal calendar 2015 budget if the Government decides against holding polls in 2015. Presidential and Parliamentary polls are only due in 2016.

There has been widespread speculation that polls will be held next year. Cabinet media spokesman Minister Keheliya Rambukwella said this week that 2015 Presidential election was “possible,” in January 2015, but reliable sources revealed that it will be in March or April as suggested by presidential astrologers.

There have also been suggestions that Defence Secretary Deleted Rajapaksa would be appointed a ruling party organiser, contest elections and be appointed a powerful minister.

The vote on account, if presented in November, will be to cover expenses for a few months. Its time period (number of months) of the vote of account will be decided after the announcement of the date of elections, a Government official said adding that in 2009 a similar vote of account was prepared for four months as the term of parliament ended in April 22, 2010. This was the normal routine followed by the Treasury before an election, he revealed. Treasury Secretary Dr. P.B. Jayasundera recently discussed the budget planning process with his senior officials.

http://www.sundaytimes.lk/140608/business-times/mini-budget-in-november-ahead-of-polls-next-year-102394.html

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