Finance and Planning Minister, Dr. Omar Davies, will today open the 2007/2008 Budget debate in Gordon House, where he is expected to tell Jamaicans how the Government intends to finance the more than $380 billion budget.

More than half the budget has been earmarked for servicing the nation's massive debt, while the remainder has been allotted to critical sectors of the economy, including education, health and national security.

Balancing act

In an election year when many critics of the Portia Simpson Miller-led administration will be keeping an eye on government spending, Dr. Davies is faced with the challenge of balancing the budget without imposing additional taxes on the already overburdened taxpayer.

At the same time, the International Monetary Fund has recommended that the Government increase the General Consumption Tax from the current 16.5 per cent to close the shortfall in revenue.

Dr. Davies' presentation will be followed by that of Opposition Spokesman on Finance, Audley Shaw, who will make his contribution to the debate on April 17.