Rowley responds to budget Friday

Opposition Leader Keith Rowley will give his response to the 2013 budget Friday in the House of Representatives, kicking off debate on the fiscal measure.

Rowley has been already voiced dissatisfaction with some items in the budget and would clarify his position during his 2-hour presentation.

Rowley is expected to talk about the continuing deficit spending, which is projected at just under $8 billion for 2013. Finance Minister Larry Howai has said this is necessary and has promised a balanced budget within three years.

One of the other areas of concern is also the removal of Value Added Tax (VAT) from about 7,000 food items, which is estimated to cause a loss of revenue of about $400 million.

Howai has said this is a temporary measure to achieve food price stability. However he gave no timetable for reintroducing it on any of them items.

The People's National Movement (PNM) is holding its traditional post budget meeting Friday evening at Piggott Corner, Belmont. Several top members, including MPs are scheduled to address party members.