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Fiscal Commissioner Courtney Williams
Fiscal Commissioner Courtney Williams says he has serious doubts that central government and self-financing public sector agencies will be able to spend the full $205 billion capital budget, or 5.3 per cent of GDP, projected for the 2026/2027 fiscal year.
The capital, or growth budget, for self-financing public bodies has been set at $105 billion, while the central government's capital allocation is projected at $99.7 billion.
However, Williams says past performance raises concerns about whether the funds will actually be used.
He noted that both the government and public agencies have a history of weak execution of capital projects, making it unrealistic to expect the entire allocation to be spent this year.
As an example, he pointed out that the capital budget for the current fiscal year was projected at $134 billion, but the actual spending will be significantly lower.
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