FRONT PORCH

government arrears.

In his mid-year budget communication, Mr Davis said bills owed by the government now total a “mere $90.7m”, adding that the “era of fiscal mismanagement has come to an end.” He also noted earlier in his speech that the bills did not necessarily translate into new borrowing.

“Members will recall that in the mid-year review of the previous year, I revealed to the public that my administration inherited almost $1 billion in unpaid bills, claims and unfunded obligations,” the prime minister said.

“Not only did we have debt levels of near 100 percent of GDP, but we also had a drawer full with bills of almost $1 billion, waiting to be paid. Again, Madam Speaker,