IT IS obvious that our national budget for fiscal year 2003 to 2004 was not greeted with a big round of applause. While most people in the news recognise the need for increase in taxation, it is claimed that this budget is anti-business and there is a high probability that the revenue that the government is anticipating might fall short of plan.
The government had a retreat with a selected group of business and other very important people in our country before the budget presentation and, even some of these people who participated expressed disapproval of the budget. This public outcry particularly from the Private Sector Organisation of Jamaica left me completely confused since I thought that the inputs from that retreat would form a part of the Budget.
While I am not aware of the Ministry of Finance's budgeting process, I believe that it is now a good time to review this process and make the necessary adjustments. A budgeting process is just as important as the budget itself and can make the difference between a budget that is accepted by the majority of our people and one that is not.
