GSD: "It Is A Positive Step In Securing Greater Transparency And Better Understanding Of The Financial Consequences Of The Crisis"
The GSD say they are pleased with the assurances given by the Chief Minister in regards to the financial transparency of the use of the COVID -19 Response Fund.
A statement from the GSD follows below:
The GSD secured additional financial transparency in supporting the use of the COVID -19 Response Fund.
Keith Azopardi the Leader of the Opposition stated:
“We have obtained written assurances from the Chief Minister that he will provide me with monthly key performance indicators as to how the Government’s revenues are doing as well as raw data on COVID -19 Response Fund expenditure. This is a tangible advance in securing greater clarity on the state of the overall economy. This information is critical in enabling the Opposition to assess the impact of COVID 19 on our economy and public finances. These assurances were repeated by him for the record in Parliament. I am pleased that these assurances have been given. It is a positive step in securing greater transparency and better understanding the financial consequences of the crisis. “
Roy Clinton the GSD Shadow Minster for Public Finance stated:
“The need for financial transparency as to how monies were spent in the COVID-19 Response Fund was paramount in our thinking from the outset. The Government accepted that regulations were needed to govern how monies are used and transparently reported on a timely basis. I am glad to see that the final regulations also include the requirement for quarterly detailed reports to be gazetted and the annual audit to be presented to Parliament by the Principal Auditor.”
