Finance Minister Dr Errol Cort is standing firmly behind the $609.6 million budget that was presented to Parliament last week.

In wrapping up debate on the 2005 budget Dr. Cort Wednesday scoffed at suggestions by opposition members that next year's budget was a draw down from an IMF document making it clear that the government had not entered any into programmes with the IMF "absolutely none."

"It is absolutely outrageous to suggest that this government has sought to adopt an IMF or follow any IMF programme."

Dr. Cort said the UPP's economic philosophy certainly was not gross mismanagement and corruption.

"I say that the UPP's economic philosophy is one which is rooted in private sector led growth.

In defending the government moves to impose tax measures, Dr Cort said "we have to impose measures that will seek to deal in a serious way with the fiscal imbalance that this country is facing. So Madame Speaker, what Budget 2005 has sought to do is to balance the pure economic realities on one hand with the social issues and the need for compassion on the other hand."

Prime Minister Baldwin Spencer who also supported the budget described it as a historic break from the fiscal lawlessness of the past.

"Budgets were irrelevant and totally unrealistic. This was the past situation Madame Speaker, fiscal discipline was a totally unknown concept by successive Labour Party Administrations," PM Spencer said while commending Dr. Cort and his staff for putting together the 2005 budget "foundation for a fresh start."

He chided the opposition for making no contributions to the debate.