It's National Budget day today and for the people of the country they are now awaiting the announcement at 11am on what the government has in store for them and how it will affect their daily lives.
The National Budget to be delivered by Prime Minister and Finance Minister, Commodore Voreqe Bainimarama will focus on two issues as in any budget, and they are revenue and expenditure.
The government's vision, focus and initiatives for next year will be known today where it will reveal its revenue policies and projected income, and at the same time the projected expenditure for the different ministries for 2010.
Then there is the everlasting battle of growing the economy, increasing exports, reducing the Import Bill, reducing civil service costs and focusing on the delivery of services to the people of the country, and raising our foreign reserves.
It is always a balancing act, and not everyone is pleased after a budget announcement. The balancing act would be to introduce or continue with government policies that will improve the standard of living of the people and at the same time have attracting policies and incentives for businesspeople.
At the same time the issue of civil service efficiency and delivery of the services to the people through different ministries, is important as any budget is as good as the service delivery.
The focus will also be on the key industries that can still deliver revenue, investments, employment, and overall growth.
Meanwhile, the FIT's Dean of Faculty for Commerce Hospitality and Tourism Studies, Dr Mahendra Reddy said he is optimistic that the government will have some good policies focusing on the poor.
There has been a lot of talk on the civil service and Doctor Reddy says the current government can make the tough decisions because they are not looking for votes.
Hopes and Expectations of today's Budget Announcement.
The Public Service Commission Permanent Secretary Parmesh Chand, said irrespective of their allocation, they will try to work within their budget.
The Fiji Employers Federation FEF President Digby Bossely, said they are hoping the with-holding tax, which is 15 percent is removed, as they believe that foreign investors are being double taxed which would see them move elsewhere.
The withholding tax, is paid by expatriate companies and is a means of retaining some of their profits before it is remitted off-shore.
The Employers Federation also hopes the Corporate Tax which currently stands at 29 percent, decreases.
The Primary Industries Ministry aims to do more with less come next year.
Minister Joketani Cokanasiga said they will focus on various sectors for import substitution programs and believes additional funding will not be required to achieve their targets to focus on the beef and dairy industry.
The Primary Industry Ministry in its effort to reduce the import bill has introduced two new crop varieties capsicum and sweet corn for farmers in Sigatoka. Introduced by the Taiwan Technical Mission, Team leader Dr Cheng Hsiung Lin said they introduced the new varieties to show that there are many crops that could be cultivated in Fiji. Trials are also underway to get into potato farming in Nadarivatu.
Meanwhile, a member of the Australia New Zealand Business Council expects to see a pro-business budget which should create employment to those who are searching for a job.
Caz Tebbutt of the Tebbutt Research said the Private Sector should be able to provide jobs and to solve the issue of increased unemployment in Fiji.
The Prime Minister, Commodore Voreqe Bainimarama will announce the National Budget 2010 at 11am today.
Stay with your Fijivillage News team for coverage of the 2010 National Budget today. We will bring you all the details on what you have to pay for, more or less from next year, how the ministry allocations will affect you and your family, and at the same time how it will affect the businesses and industries. We will also have the budget address and all our 2010 National Budget coverage, including photos on our website, fijivillage.com.
