PM pledges ‘good budget’ despite inflation and debt challenges

The 2024/25 Budget will be the “budget of perseverance”, says Prime Minister Mark Brown.

Brown, who is also the Minister of Finance, will be tabling the Appropriation Bill (Budget) when Parliament meets this afternoon.

This morning, he hosted the Budget Breakfast at The Islander Hotel where he will give an update on the Government’s economic forecast, a snapshot of the government’s budget financials and its initiatives.

“It is a good budget that we’ve put together, recognising the economic recovery, but also recognising some of the challenges in the face of inflation as well as challenges in the face of debt servicing, the debt that we took out during Covid-19 to keep our economies afloat,” Brown said.

“Overall, our economy is really tracking well, and we look forward to getting over this hump (challenges) and working our way through it. There’ll be a couple of things I’ll be talking about at the Budget Breakfast (this morning) in terms of how we’re going to address the debt servicing challenges.”

Brown said they have also addressed several key areas concerning the needs of the people, including raising the minimum wage and providing support for caregivers.