PRIME Minister Philip J. Pierre has proposed a massive EC$2.18 billion budget for the financial year 2026/2027.
The Standing Finance Committee met on Tuesday March 24th in special closed session to review the Estimates of Revenue and Expenditure for the ensuing financial period.
Last evening the Sitting of the House of Assembly commenced at 5pm with a single motion down for consideration which read “BE IT RESOLVED that the House of Assembly do adopt the Report of the Standing Finance Committee on the Estimates of Revenue and Expenditure for the Financial Year 2026/2027 in the sum of Two Billion and One Hundred and Eighty-Eight Million, Seven Hundred and Sixty Five Thousand, Nine Hundred Dollars ($2,188,765,900.00) and do agree that the said sum do form a charge against the Consolidated Fund and other funds of the State of Saint Lucia.”
The Prime Minister says he is excited about the historic budget which is laden with infrastructure initiatives including projects that are critical and long overdue. The prime minister highlighted the redevelopment and enhancement of some schools; numerous road improvement works as well as upgrades to utilities particularly water distribution.
The Sitting of the House of Assembly is scheduled to continue on Wednesday March 25th and Thursday March 26th.
The policy debate, as is customary, has been scheduled for April 2026.
For the first time in 29 years the opposition will be represented by a solitary voice during the debate, that of Micoud South MP Allen Chastanet, mirroring the 1997 parliamentary configuration featuring the United Workers Party (UWP) Micoud North MP Louis George after the Dr. Kenny Anthony led SLP secured a historic 16-1 victory.
Prime Minister Pierre says the policy statement, when delivered, will “deal with real issues within the limits of our financial resources.” According to the Prime Minister, “pie in the sky” issues will not form part of this budget, as there are real challenges facing the country.