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| Budget Speech – 14th REC; Minister of Finance - Lentheric | |
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| Tweet Topic Started: Jan 8 2014, 05:08 AM (194 Views) | |
| Lentheric | Jan 8 2014, 05:08 AM Post #1 |
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Queen of the United Kingdom of Lentheric
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Budget Speech – 14th REC House of Nobles – The Commonwealth of Crowns Minister of Finance – Mr Rudolf Matthews, The United Kingdom of Lentheric His Excellency, the Founder His Excellency, the Chancellor Your Honours of The Supreme Court Their Lordships of the Regional Executive Council Ministers, Her Sovereign Majesty, Queen Alexis Anastasia Lutheran, Colleagues, Friends... It truly is an honour to stand before you today, and to present to the Commonwealth, the first budget speech for the year 2014. The road to here has not been an easy one. Not for this Ministry, and not for the region. With the proposal of the Commonwealth Revenue Service Bill, we have seen many debates arise, some heated, some aggressive and some leading to the breakaway of members from this regional alliance. We have in the past, worked as a region and when a nation wishes to take up a position in the regional government, said nation would fund their elected individuals without any objections. This has gone on since the creation of the region and we have come to the point, where we are realising that not all nations within this great region of ours, are economically stable to continue on said course. Although their elected members are most willing to serve the interest of the region, having financial difficulties, could put a strain on many of their goals. It was with this in mind Honourable members that I and a few members decided that a tax has to be charged for the benefit of the regional government to conduct their business as elected and expected of them. With the introduction of the CRS, many objected to the mandatory tax contributions from member nations. The debates raged on for days, with alliances being formed, some hoping to push forward the agenda of the CRS, and others pushing for the bill to be scrapped. Bu this Honourable Members is not a history lesson, but rather a lesson on success and unity... After much debate, a compromise was reached which has led us to the Tax Donation System, and eventually, this is where we now find ourselves... Honourable Members, before I present to you the Governments Revenue and the Government Budget, please bear in mind, that this is the regions first attempt, and it has been recalculated and checked for any errors. If in the event you find that the figures are not up to par, please do contact my office, or the Secretary-General to have these errors rectified... His Excellency the Founder, without further a due, I present to you the following; The CRS has, over the past three (3) days collected a total of C$116 million, from member nations within the region. With the size of our region, we were hoping a larger amount would have been collected, but due to the nature of the Bill being voluntary, we have made use of what we have. The collected revenue has been divided between the different spheres of government, with the Ministry of Foreign Affairs receiving C$10 Million, an estimated 10% of the Government Budget. The Ministry of Culture receives C$8 million, an estimated 8% of the budget. The Ministry of Finance, who heads the CRS, receives C$4 million, an estimated 4% of the budget. The Ministry of the Interior, being the Ministry to oversee the Commonwealth Disaster Management Agency, receives C$25 million, an estimated 26% of the budget. Some of you might question this decision, but bear in mind, that of this budget, the Ministry will spend C$14 million on the CDMA. The Department of Defence, under the Lord Protector receives the Lion’s Share of the budget, with C$45 million, an estimated 46%. The last remaining Government entity, namely the Judiciary, receives C$6 million, an estimated 6% of the regional budget. The total amount spent Honourable Members, amounts to C$98 million, with an estimated balance of C$18 million. I must stress that we have not spent 90% of our revenue as outlined within the law. As this is our first trial run, I took it upon myself to play our cards safe, as we do not know what the future of this term holds. The remaining C$18 million will be placed on hold in the event a matter arises. The Government Expenditure has been broken down for each Ministry and Department, and can be viewed in the table. Please view the Graph below; ![]() ![]() It should further be noted, that although regional taxes has been introduced, the REC will not be receiving any funds, until the next term. It is requested that their respected nations continue to fund their operations, as the Government Revenue will be depleted before any REC department can be financially assisted. I thank all the donors for their gifts towards the CRS. Thank you for trusting this Ministry with your finances and for acknowledging that something needs to be done for the Regional Government to function properly. Thank you Honourable Members for your time, this concludes the term’s Budget Speech. I thank you. Debate the budget Speech here: Budget Speech Debate Edited by Lentheric, Jan 8 2014, 07:40 AM.
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2:45 AM Jul 11