#National budget

[allthecanadianpolitics]

It will cost Canadian taxpayers upwards of $6.5 billion to acquire six Arctic Offshore Patrol Ships for the navy and two additional similar vessels for the coast guard, according to newly tabled documents and a statement from the federal government.

Public Services and Procurement Canada (PSPC) says a contract amendment has been signed with Irving Shipbuilding Inc. of Halifax, N.S. that allows for a top-up to the budget for the military ships and sets the contract price for the coast guard vessels.

The cost of the navy ships has now risen to $4.98 billion from an earlier projection of $4.3 billion. The contract for the coast guard vessels has been set at $1.6 billion — an increase of $100 million from the figures tabled before Parliament last spring. [...]

Both procurement services and the Department of National Defence blame the increases on the labour shortages and supply chain issues brought on by the pandemic — factors that PSPC said have, among other things, resulted in "higher shipping costs and higher costs for spare parts."

In a media statement, PSPC said it has undertaken a thorough review of the program's projected costs and has built a contingency fund into the planning process to cover "possible cost impacts due to higher than forecasted cost of materials."

But critics say the Liberal government has not provided much oversight of the shipbuilding program writ large and that costs continue to swell each year. [...]

Continue Reading.

Tagging: @politicsofcanada

[pannaginip]

ABS-CBN on Twitter @ABSCBNNews:

LOOK: Highlights of the Department of Budget and Management’s proposed P6.352-trillion national budget for 2025

via @/VivienneGulla

2024 Jul. 29

ID under the cut

BRIEFER ON THE 2025 PROPOSED NATIONAL BUDGET

AGENDA FOR PROSPERITY: Fulfilling the Needs and Aspirations of the Filipino People

To support the PBBM Administration's goal of economic and social transformation, the proposed National Budget for FY 2025 of Php 6.352 trillion was carefully and meticulously crafted to meet the objectives of the Philippine Development Plan 2023-2028. This budget builds on the gains of the first two years of the Administration, sustaining momentum in pursuit of a prosperous, inclusive, and resilient Philippines- where all Filipinos can fulfill their individual and shared aspirations.

Budget Comparison

2024 Budget: Php 5.768 T

2025 Budget: Php 6.352 T

10.1% year-on-year growth

22.1% of GDP

Budget Dimensions by Sector

Php 2.121 T: Social Services (33.4% of the Budget)

Php 1.853 T: Economic Services (29.2% of the Budget)

Php 1.083 T: General Public Services (17.1% of the Budget)

Php 419.3 B: Defense (6.6% of the Budget)

Php 876.7 B: Debt Burden (13.8% of the Budget)

Priority Sectors

Education (DepEd, SUCs, CHED, TESDA)

Php 977.6 B

2024 GAA: Php 968.9 B

Includes other education-related agencies

Social Welfare (DSWD)

Php 230.1 B

2024 GAA: Php 248.1 B

Public Works (DPWH)

Php 900.0 B

2024 GAA: Php 997.9 B

Agriculture (DA and attached corporations, DAR)

Php 211.3 B

2024 GAA: Php 221.7 B

Health (includes PhilHealth)

Php 297.6 B

2024 GAA: Php 308.3 B

Transportation (DOTr)

Php 180.9 B

2024 GAA: Php 73.9 B

Interior and Local Government (DILG)

Php 278.4 B

2024 GAA: Php 263.0 B

Excludes education-related agencies

Judiciary

Php 63.6 B

2024 GAA: Php 60.2 B

Defense (DND)

Php 256.1 B

2024 GAA: Php 240.6 B

Excludes education-related agencies

Justice (DOJ)

Php 40.6 B

2024 GAA: Php 38.2 B

[infocrazebyrepwoop]

Bangladesh Parliament Approves Tk7,97,000 Crore Budget for FY25

On Sunday, the Bangladesh Parliament approved the Tk7,97,000 crore national budget for FY25, aiming for 6.75% economic growth and keeping annual inflation around 6%. Finance Minister Abul Hassan Mahmood Ali presented the Appropriations Bill 2024, seeking a budgetary allocation of Tk12,41,752 crore, which was passed by voice votes. On Saturday, the Finance Bill 2024 was passed with minor changes.…

[dailynation]

2024 Budget consultations commence

THE Ministry of Finance through the budget office has begun engaging and consulting various stakeholders on the formulation and implementation of the 2024 National budget with Muchinga Province being among the provinces that have been consulted so far.

THE Ministry of Finance through the budget office has begun engaging and consulting various stakeholders on the formulation and implementation of the 2024 National budget with  Muchinga Province being among the provinces that have been consulted so far. [ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”4,5,6″ ihc_mb_template=”2″ ] Gracing the 2024 national budget consultative meeting and the…

[hicginewsagency]

Opposition MPS Draft Alternative Budget for FY 2022/24

By Our Reporter Leader of Opposition Mathias Mpuuga speaking to MPs during their retreat in Entebbe The Opposition in Parliament has adopted a new approach towards the national budget by developing a completely different alternative national budget. The Leader of the Opposition in Parliament (LOP) Mathias Mpuuga has made the announcement while speaking to Opposition MPs during their 3 day…

[davidpasqualone]

Our Nation’s Budget Process Has Been Compromised. Our Nation is Now at Risk!

Our Nation’s Budget Process Has Been Compromised. Our Nation is Now at Risk! Treasonous abuse by Congress in the 11th hour. Wrongdoers must pay a price! Citizens are feeling more direct pain in their way of life. Things regrettably need to get a bit worse before they get better.

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[genevalentino]

Our Nation’s Budget Process Has Been Compromised. Our Nation is Now at Risk!

Our Nation’s Budget Process Has Been Compromised. Our Nation is Now at Risk! Treasonous abuse by Congress in the 11th hour. Wrongdoers must pay a price! Citizens are feeling more direct pain in their way of life. Things regrettably need to get a bit worse before they get better.

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[accuratenewsng]

President Buhari Presents N20.51Trillion As Last Budget of His Administration

President Buhari Presents N20.51Trillion As Last Budget of His Administration

President Buhari has presented the 2023 Appropriation Act of N20.51 trillion total expenditure estimates comprising of N10.78 trillion fiscal deficit representing 4.78 percent of estimated GDP, above the 3 percent to the joint session of the National Assembly. The budget proposal is N75 billion above the N19.76 trillion approved by the Senate and House of Representatives in the Medium Term…

[szaryherbatnik]

Im so bad at crafts but kremy has a tophat now :)))))

[tomorrowusa]

We need to smash the mythology of Republicans being fiscally responsible and good at economics. Shoveling vast amounts of money into the pockets of venal oligarchs who don't need it is not good for the country.

Former president Donald Trump approved almost twice as much borrowing as current President Joe Biden during his four years in office, according to the Committee for a Responsible Budget (CFRB). Trump, who presided over the federal government from 2016 to 2020, approved $8.4 trillion in new ten-year debt. But incumbent president Biden, who defeated Trump four years ago, has approved $4.3 trillion in new borrowing, said a new report by the committee. As for reducing the budget deficit, Trump cut it by $443 billion. The Biden administration has reduced it by $1.9 trillion. The U.S. is sitting on a total of $34.73 trillion in national debt, accrued over the country's history, according to government data.

I often say that Republicans create a mess when in office. And when they're voted out, the Republicans then try to make a campaign issue out of Democrats not cleaning up the Republican mess quickly enough.

During the Trump years, his tax cuts added $1.9 trillion in U.S. debt, while the budget passed in 2018 and 2019 generated borrowing of $2.1 trillion. Those two policy moves contributed some of the largest debt increases during Trump's tenure. Over the last three and a half years, under Biden, some of the largest contributors to the national debt included the appropriations bills of fiscal year 2022 and 2023 that generated $1.4 trillion of borrowing, while the American Rescue Plan Act was responsible for $2.1 trillion in debt, according to CFRB.

The Trump tax breaks for the filthy rich will automatically expire in a few years. That's why multi-billionaires are ignoring Trump's dictatorial behavior and criminality and are dropping HŪGE donations into Trump's campaign coffers so that he can renew their tax breaks if he gets back into office. Their rapacious greed is downright pathological.

When those tax breaks expire, provided Biden wins, the debt will then level off as it did during the Clinton administration after Democrats raised taxes on the filthy rich. Bill Clinton ended his presidency with a budget surplus.

As long as we're talking economics, a reminder that 90.9% of all recessions of the past 71 years began under Republicans.

... just sayin'.

[stupitunclehal]

heavy sigh. parts 1 and 2. checked my phone so we're hopefully free from the penis curse at last.

[dontmeantobepoliticalbut]

Former President Trump ran up the national debt by about twice as much as President Biden, according to a new analysis of their fiscal track records.

WHY IT MATTERS: The winner of November's election faces a gloomy fiscal outlook, with rapidly rising debt levels at a time when interest rates are already high and demographic pressure on retirement programs is rising.

• Both candidates bear a share of the responsibility, as each added trillions to that tally while in office.

• But Trump's contribution was significantly higher, according to the fiscal watchdogs at the Committee for a Responsible Federal Budget, thanks to both tax cuts and spending deals struck in his four years in the White House.

BY THE NUMBERS: Trump added $8.4 trillion in borrowing over a ten-year window, CRFB finds in a report out this morning.

• Biden's figure clocks in at $4.3 trillion with seven months remaining in his term.

• If you exclude COVID relief spending from the tally, the numbers are $4.8 trillion for Trump and $2.2 trillion for Biden.

STATE OF PLAY: For Trump, the biggest non-COVID drivers of higher public debt were his signature tax cuts enacted in 2017 (causing $1.9 trillion in additional borrowing) and bipartisan spending packages (which added $2.1 trillion).

• For Biden, major non-COVID factors include 2022 and 2023 spending bills ($1.4 trillion), student debt relief ($620 billion), and legislation to support health care for veterans ($520 billion).

• Biden deficits have also swelled, according to CRFB's analysis, due to executive actions that changed the way food stamp benefits are calculated, expanding Medicaid benefits, and other changes that total $548 billion.

BETWEEN THE LINES: Deficit politics may return to the forefront of U.S. policy debates next year.

• Much of Trump's tax law is set to expire at the end of 2025, and the CBO has estimated that fully extending it would increase deficits by $4.6 trillion over the next decade.

• High interest rates make the taxpayer burden of both existing and new debt higher than it was during the era of near-zero interest rates.

• And the Social Security trust fund is rapidly hurtling toward depletion in 2033, which would trigger huge cuts in the retirement benefits absent Congressional action.

WHAT THEY'RE SAYING: "The next president will face huge fiscal challenges," CRFB president Maya MacGuineas tells Axios.

• "Yet both candidates have track records of approving trillions in new borrowing even setting aside the justified borrowing for COVID, and neither has proposed a comprehensive and credible plan to get the debt under control," she said.

• "No president is fully responsible for the fiscal challenges that come along, but they need to use the bully pulpit to set the stage for making some hard choices," MacGuineas said.

[txttletale]

suzerain might be one of the only good political simulators ever made

[whatudottu]

When you have 6 5 different people to dress but only one body to style-

Thinking about a Mike Squad redesign... at least for ROTI specifically haha

Their asses are not fashion designers-

In order we have Mike (the two-tone 3/4 sleeve shirt), Chester (old man sweater tied around waist), Svetlana (gymnastics leotard under everything), Manitoba Smith (outback pants which apparently exist), and of course Vito (large button up shirt and cornicello).

[nando161mando]