Budget 2024/25 –Rollover Budget To Be Implemented  

Following the visit by the FCDO Financial Aid Mission delegation in December 2023, discussions have been ongoing between the St Helena Government and the UK Government regarding the level of funding to be provided to St Helena for the 2024-2025 financial year. Ministers, officials and FCDO colleagues have worked hard to develop the planning for next year, and to present the evidence for a settlement in the context of a challenging economic situation in the UK.

We had anticipated that a settlement would be confirmed by end of February 2024, providing adequate time to prepare and present the Budget for 2024/25 within Legislative Council rules, and ahead of the beginning of the 2024-2025 financial year in April.

However, we are yet to receive confirmation of the 2024/25 financial aid settlement. This means that we cannot finalise the Budget for 2024/25 in order to present it to Legislative Council as planned on 25 March 2024.

Instead, a rollover budget will now be sought. Minister for Treasury and Economic Development, Mark Brooks, will table a motion at Legislative Council which seeks to empower the Financial Secretary to withdraw funds from the Consolidated Fund. This will allow public services to continue until such time that the Appropriation Bill is approved by Legislative Council.

The draft Budget 2024/25 will be published once the financial aid settlement from the UK Government has been confirmed.

#StHelena #Budget24


19 March 2024

St Helena Government Communications Hub

Telephone: 22470
Email: communications@sainthelena.gov.sh