The change to democratic status doesn’t seem to have done anything for the quality of Bainimarama budgets. They still fail to disclose all the facts that citizens and investors need to know to have so they can have confidence in the information they are given. Wadan Narsey said unless the Government releases all key Budget documents, it’s all a bit of a waste of time. In particular they must release the Detailed Budget Estimate which contains information about planned spending in 2015, the revised estimates from 2014 and actual spending of 2013. Prof Narsey was particularly suspicious of the details about sales of Government assets. What assumptions are being made about what is received and how much of the planned spending will be borrowed? This is the dirty secret lying at the heart of the Khaiyum budget. His formula is simple and consistent: price control plus information control, but that adds up to a big brake on investment. Investors will not invest unless they have confidence that they’ve been given all the facts.