Business
TUC Kicks Against 2013 Budget
The Trade Union Congress (TUC) has expressed concern over the N4.92 trillion 2013 draft budget presented to the National Assembly, Wednesday by President Goodluck Jonathan, saying it was anti-development.
TUC President, Comrade Peter Esele who criticised the draft budget in Port Harcourt yesterday noted that the recurrent expenditure was far higher than the capital expenditure, a development, he noted, cannot engender growth and development in the nation’s economy.
Esele, who was in Port Harcourt to condole with the family of Comrade Biringa Onyema Stephen of the Petroleum and Natural Gas Senior Staff Association whose son was one of the victims of the Aluu Killings, said no nation presents a budget where recurrent expenditure outweighs capital expenditure.
He called on the National Assembly to critically look into the recurrent and capital expenditure provisions of the 2013 budget proposals of the executive arm in the best interest of the nation.
It would be recalled that President Jonathan on Wednesday presented to the joint session of the National Assembly a budgetary proposal of N4.92 trillion for 2013 which represents an increase of about five percent over the N4.7trillion appropriated in 2012 budget.
However, while N1.54 trillion was allocated to capital expenditure, N2.41trillion was earmarked for recurrent expenditure (salaries and other expenditure) in the 2013 budget proposal.
Philip Okparaji
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