17. Contents of Pre-election Budgetary Position Report

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

Every Pre-election Budgetary Position Report shall contain the following information for the current financial year :—

(a)

estimates of revenue and expenditure ;

(b)

estimates of the Government borrowings ;

(c)

the economic and other assumptions that have been used in preparing such estimates ;

(d)

a statement of the risks, quantified where practicable, that may have material effect on the fiscal position, such as—

(i)

contingent liabilities including guarantees and indemnities given by the Government under any Act ;

(ii)

publicly announced proposals for spending by the Government that have not been included in the estimates referred to in paragraph (a) ;

and

(iii)

Government negotiations in progress and not finalized ; and

(e)

such other information as may be necessary to reflect fairly the financial position of the Government as at the date of the said Report.

(2)

The information in the Pre-election Budgetary Position

Report, shall, subject to the provisions of subsection (3) take into account to the fullest possible extent any decision of the

Government having a material effect on the fiscal position.

(3)

Nothing in this section shall be read or construed as requiring the inclusion in a Pre-election Budgetary Position

Report, of any information, the disclosure of which would, in the opinion of the Minister given in writing—

Fiscal Management (Responsibility)

(a)

be prejudicial to national security ;

(b)

compromise Sri Lanka in a material way in negotiation, litigation or commercial activity.

(4)

Where information on any matter required to be included in a Pre-election Budgetary Position Report remains unchanged from the information on that matter included in a previous Budget Economic and Fiscal Position Report or a

Mid-Year Budget Fiscal Position Report, the Pre-election

Budgetary Position Report shall state that such information remains unchanged from the information included in either or both of these previous reports.

Read on from s 18