BY ALFRED PAGEPITU
Local revenue remains the key priority area for investment for Guadalcanal provincial government to ensure that recurrent revenue is stable and predictable.
In presenting the Appropriation Bill 2021-2022, Andrew Tahisihaka (minister for finance) on Monday highlighted the major components of the Budget and the outlook of the province’s major revenues and expenditures.
“The local revenue accounts for 46.8 percent of the total Recurrent Revenue budget. The Fixed Service Grant revenue accounts for 51.5 percent of the total Recurrent Revenue budget whilst other revenues account for approximately 1.7 percent of the total recurrent revenue budget.”
He said stability in the local revenue is critical for the implementation of government policies and progress towards political, economic and social development of Guadalcanal.
Tahisihaka said the key drivers in the local revenue in the new financial year include property rates, business licences, vehicle licences, construction licences and logging licences.
He explained that the progress of the vehicle licensing is becoming effective with the support from the Inland Revenue Division.
Adding that the vehicle registration at IRD can only be processed subject to provision of documentation and payment of the relevant fees to the Finance Division, Guadalcanal Province by the vehicle owners.
“This is possible after numerous consultation and engagement with IRD and HCC.”
In regards to the 10 new ordinances being passed in Assembly last year, he said, “The following divisions are expected to generate the much needed local revenue to support the budget including; Lands & Physical Planning, Forestry, Commerce & Investment, Works Transport & Communication, Mines and others”.
Assembly meeting continues today.