EXTRACT FROM BUDGET SPEECH 2015-2016 BY THE HONOURABLE MINISTER OF FINANCE

“before coming to the objectives of the Budget and to our policies for attaining those objectives, I wish first to explain the rationale behind the change in the budgeting approach – from a Programme Based Budgeting to Performance Based Budgeting. There was a consensus that the Programme Based Budgeting was bulky and too complicated for legislative purposes and for the public. It made the appropriation process tedious and very often opaque. We are shifting to a more transparent, and simpler to understand Budgeting process”

Required:

Give your views on this extract of the budget speech 2015-2016 from the Honourable Minister of Finance. You should explain the rationale behind the change fromProgramme Based Budgeting to Performance Based Budgeting and state whether you agree with this change.

If you agree, you must state how this will benefit our country in terms of simplifying its budgeting process (take any example that you think might be appropriate)