Budget Day today

Today is Budget Day in Gibraltar, even if the budget is no longer what it used to be.

There is hardly any advance talk about it, as if the people are out in the beach or at home watching the World Cup.

The meeting starts at 9.30am, leading to budget measures being announced and long speeches being read about the state of the economy. Then, each minister makes his own speech, as well as Opposition members of the House doing likewise. property; the second reading of the Tobacco advertising and sponsorship Bill, as well as an ordinance for the appropriation of sums of money to service the year ending 31 March 2007.

Apart from the Bills already mentioned, the Prison amendment Bill will also go through committee and third reading.

The revised agenda which has been circulated is signed by Melvyn Farrell, the acting Clerk of the House of Assembly.

However, late yesterday it emerged that the Government's policy on tax cuts can be expected to continue.

The chief minister Peter Caruana is to outline the state of the economy and of government finances.

Sources close to the government said that the position is buoyant on both fronts. Thus, Mr Caruana will continue with his tax-cutting agenda.

Government finances are probably doing well given the boost from such sectors as the gambling industry, although there have been concern expressed from the traditional sectors of the economy. Another obvious source of income is probably from the ongoing sale of land for all those construction projects.