Following a visit by the FCDO Financial Aid Mission delegation in December 2023, ongoing discussions between the St Helena Government and the UK Government have focused on funding for St Helena for the 2024-2025 financial year. Efforts by ministers, officials, and FCDO colleagues have been directed towards planning for next year and presenting evidence for a settlement amid challenging economic conditions in the UK.
The initial expectation was that a settlement would be confirmed by February 2024. This timeline would allow adequate preparation to present the Budget for 2024/25 within Legislative Council rules before the start of the financial year in April.
However, confirmation of the 2024/25 financial aid settlement has not yet been received. As a result, finalizing and presenting the Budget as planned on March 25, 2024, is not possible.
In response to this delay, a rollover budget will be sought. Minister for Treasury and Economic Development Mark Brooks will table a motion at Legislative Council to empower the Financial Secretary to withdraw funds from the Consolidated Fund. This measure aims to ensure public services continue until approval of the Appropriation Bill by Legislative Council.
The draft Budget for 2024/25 will be published once confirmation of financial aid from the UK Government is secured.
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