NASSAU, BAHAMAS — In a letter to Prime Minister Philip Davis, Opposition Leader Michael Pintard stated that the Opposition remains concerned that the Fiscal Responsibility Council (FRC) is not fulfilling its legal mandate, having raised the matter several times, most recently during the Committee stage of the budget debate last month.
Pintard questioned the status and current membership of the FRC, the identity of its current chairperson, whether the FRC members continue to receive a stipend and when the past three mandated reports by the FRC will be published.
He also questioned what steps the Ministry of Finance is taking to ensure that the Council is able to publish its reports in a timely manner moving forward, as required by law.
“I am confident that you are well aware of the important oversight function of the FRC. You would also be aware that the failure of the Council to publish its reports puts it in breach of the law,” Pintard wrote.
“To ensure that your government fulfills its electoral mandate for a more accountable and transparent government, we anticipate that you will ensure that the necessary steps are taken immediately to rectify whatever set of circumstances is keeping the FRC from fulfilling its statutory obligations,” Pintard noted in his letter.
The Fiscal Responsibility Council’s main role is to ensure budgetary discipline by evaluating the Government’s compliance with the Act’s rules and principles, including fiscal responsibility principles and objectives. It conducts thorough assessments of the Government’s Fiscal Strategy Report, Mid-Year Review, Annual Budget, and audited annual accounts to promote sound fiscal decisions that consider their economic impact.
The Council operates independently with access to all government information and public servants, reporting directly to the Bahamian people through submissions to Parliament, free from any direction or intervention by public officers or elected officials.
