Draft law amending the State Budget Act (511 SE) - First Reading
Session: 15th Riigikogu, 4th session, plenary sitting
Date: 2024-10-16 18:44
Total Speeches: 89
Membership: 15
Agenda Duration: 1h 18m
AI Summaries: 89/89 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
The fourth agenda item concerned the procedure for the first reading before the Riigikogu of the draft state budget law amendment 511. The Minister of Finance, Jürgen Ligi, delivered the presentation from the Riigikogu rostrum. The main message was that the draft's purpose is to increase the transparency of the state budget from 2025 and to abolish the unnecessary requirement of a stability program in accordance with the new fiscal rules of the European Union. Due to the amendments, the economic content of expenditures will be added to the activity-based allocation by institution, and this information will be incorporated as part of the explanatory notes to the state budget. However, the draft should not change the established expenditure limits or the flexibility of state budget usage and reduces the government’s requirement to prepare a stability program, which is in line with EU reforms. The debate focused on both the technical content of the draft and whether it increases transparency and reduces risks associated with the constitution. A second part of the discussion raised criticism that full visibility of expenditure lines may not be guaranteed and that alternative proposals might be needed or a quicker route to increase transparency. Overall, the need for continued open discussion and potential amendments by parliament was emphasized.
Decisions Made 1
First reading completed: the vote was 21 in favor, 55 against; the proposed amendments were rejected and the draft's continuation is planned for next month. This decision was made by consensus and concerns the completion of the first reading of draft 511.
Most Active Speaker
Anastassia Kovalenko-Kõlvart – Left-wing (Centre Party). The most active participant in the session, she spoke from several angles and posed questions and made remarks regarding the transparency of the budget and the disclosure of details of the legal framework. Her position on the Riigikogu scale is left.
Aseesimees Toomas Kivimägi
AI Summary
The Riigikogu will consider, as the fourth item on the agenda, the first reading of Draft Bill 511 concerning the amendment of the State Budget Act, which was initiated by the government. The report will be presented by Minister of Finance Jürgen Ligi.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi announced that the draft bill amends the State Budget Act so that, starting from 2025, transparency will increase, the unnecessary requirement for a stability programme under the EU's new fiscal rule will be abolished, the distribution of expenditures by economic content will be added institution by institution to the activity-based breakdown (which was previously presented in the explanatory memorandum), and restrictions regarding state budget limits and flexibility of use will not change, thereby increasing transparency for the Riigikogu and the public; simultaneously, the obligation to prepare a stability programme every year will be eliminated.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Speaker Toomas Kivimägi offered his thanks and opened the question session, inviting Anastassia Kovalenko-Kõlvart to present her questions.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
Anastassia Kovalenko-Kõlvart argues that although the draft legislation promises to make the state budget transparent, it fails to ensure that all revenue and expenditure lines are itemized separately, a point which the Chancellor of Justice and the Auditor General have heavily criticized. The Centre Party faction has submitted an alternative bill that would detail these expenditure lines up to 500,000 euros, but the Chairman of the Finance Committee has refused to place it on the agenda. Furthermore, news broke yesterday that the committee lacks a clear overview of this year’s allocation of support to various private limited companies and non-profit organizations. Therefore, she asks: in your assessment, is this budget transparent?
Aseesimees Toomas Kivimägi
AI Summary
Deputy Chairman Toomas Kivimägi thanks the audience.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
He asks how the situation is viewed when those specific budget lines are not visible, showing where the grant money for private limited companies and non-profit organizations is being allocated.
Rahandusminister Jürgen Ligi
AI Summary
Jürgen Ligi stated that the focus of his speech is increasing transparency and the year 2025, not 2024, adding that the claim being circulated is fake news. He confirmed adherence to the recommendations of the National Audit Office (Riigikontroll) and explained that not all beneficiaries can be listed in the state budget because some are partially unknown, as grants are distributed through application rounds.
Aseesimees Toomas Kivimägi
AI Summary
Lauri Laats is invited onto the stage at the beginning of the speech.
Lauri Laats
Profiling Eesti Keskerakonna fraktsioonAI Summary
Lauri Laats asks the minister whether Draft Bill 511 will take effect in 2025 or 2026, and whether this law will remedy the situation that Annely Akkermann described in her interview—namely, that the budget's explanatory memorandum is too long and generalized, forcing the Riigikogu to process the budget at such a level.
Rahandusminister Jürgen Ligi
AI Summary
He said that next year's budget has been prepared in accordance with this law amendment.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Chairman Toomas Kivimägi invited Vadim Belobrovtsev to speak.
Vadim Belobrovtsev
Profiling Eesti Keskerakonna fraktsioonAI Summary
Belobrovtsev's speech describes the bill submitted by the faction aimed at making the state budget more transparent by moving towards an expenditure-based budget. This proposed system would require state revenues and expenditures to be presented broken down by institution, and an explanation would be attached to expenditure items exceeding 500,000 euros. Finland, the Netherlands, Germany, the United Kingdom, and Canada are cited as examples, and the question is raised whether Estonia could adopt a similar approach.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that the legal framework should not be overly detailed, because prescribing exact costs creates confusion and limits the flexibility of core operations.
Aseesimees Toomas Kivimägi
AI Summary
This is merely a request to invite Andrei Korobeinik to appear.
Andrei Korobeinik
Profiling Eesti Keskerakonna fraktsioonAI Summary
Andrei Korobeinik thanks the presiding officer of the session, expresses optimism regarding the maintenance of the birth rate, praises the Minister of Finance’s report, and asks how the draft bill regulates this year’s budget—the explanatory memorandum claims the opposite, Lauri received a different answer—and whether the annual budget will become more transparent, or if we have to wait a whole year.
Rahandusminister Jürgen Ligi
AI Summary
He said he answered that question, and it regulates next year's budget.
Aseesimees Toomas Kivimägi
AI Summary
The speech is merely a request to Aivar Kokk.
Aivar Kokk
Profiling Isamaa fraktsioonAI Summary
Aivar Kokk proposed that the state budget should include a mandatory, detailed specification regarding earmarked funds (or 'pork barrel money') and the reserve, and that the draft bill should be so clear that all members of the Riigikogu understand what they are voting for. He then asked whether the situation could be improved in this sense.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Chairman Toomas Kivimägi thanked the audience.
Rahandusminister Jürgen Ligi
AI Summary
He/She thanks them, points out that nothing is perfect, doesn't quite understand the opposing side's proposal or the submitted draft bill, and perhaps that is even excellent.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Chairman Toomas Kivimägi turns to Rain Epler and asks him.
Rain Epler
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Rain Epler is criticizing a legal amendment that allows the minister, over the course of a year and without changing the total expenditure, to internally reallocate costs and redistribute the budget without involving the Riigikogu (Parliament). He also questions why this must be the case, citing observations made by the State Audit Office.
Rahandusminister Jürgen Ligi
AI Summary
Jürgen Ligi says he doesn't understand the exact meaning of "robust opportunity," but suggests creating a detailed family budget as an example, and emphasizes that the government is responsible for the first activity-based budget, and the method currently remains the same, complete with its pros and cons.
Aseesimees Toomas Kivimägi
AI Summary
Vice-Chairman Toomas Kivimägi invited Varro Vooglaid to the stage and asked him to speak.
Varro Vooglaid
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Vooglaid questions whether the same criticism directed at opposition members of parliament also applies to the Chancellor of Justice and the Auditor General, both of whom have raised the issue that the state budget violates the constitution and that the traceability of its financing is insufficient.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that he was not judging the content of the opposition's speech, but rather the manner in which the questions were posed, and that he asked them not to put words in his mouth or carp, adding that the Chancellor of Justice has confirmed that next year's budget is in compliance with the constitution and is more transparent than previous ones.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Speaker Toomas Kivimägi invites Anastassia Kovalenko-Kõlvart to the stage.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
In her presentation, Anastassia Kovalenko-Kõlvart pointed out that the draft bill grants every minister the right to change expenditure lines in the budget at any time, even after amendments made and adopted by the Riigikogu, which would shift all decision-making power to the executive branch and reduce the Riigikogu's role in the budget process.
Rahandusminister Jürgen Ligi
AI Summary
According to Finance Minister Jürgen Ligi, this additional amendment increases the ability of members of parliament to express their will and make precise changes to expenditures, but it does not make the legislator the head of state or a representative of the executive branch. Furthermore, the constitution maintains that the budget is submitted by the executive branch, and the principle of separation of powers remains, although parliament's overall capacity is greater due to this addition.
Aseesimees Arvo Aller
AI Summary
Vice-Chairman Arvo Aller invited Andrei Korobeinik to speak.
Andrei Korobeinik
Profiling Eesti Keskerakonna fraktsioonAI Summary
Andrei Korobeinik stressed the necessity of budget transparency, citing an example where roughly 10 million in public transport subsidies is cut by 6 million, while simultaneously 30 million is added over four years—money that is not reflected in the budget. He questioned how a Member of Parliament could possibly execute their mandate and participate in budget formation if the official figures do not correspond to reality.
Rahandusminister Jürgen Ligi
AI Summary
According to Jürgen Ligi, the budget reflects reality and the constitution, but what happened in the committee yesterday could not be precisely anticipated, and the issue is very difficult to follow.
Aseesimees Arvo Aller
AI Summary
This is just a short request addressed to Lauri Laatsa.
Lauri Laats
Profiling Eesti Keskerakonna fraktsioonAI Summary
Lauri Laats stated that the discussion could significantly damage public trust in both the government and the Riigikogu, citing evidence that trust in the Riigikogu has dropped by 27% and trust in the government by 31%. He then called for everyone to remain civil in order to restore that trust, and requested clarification regarding the draft law, which is intended to make the budgetary outlook better, more transparent, and more understandable. At the same time, he stressed that he disagrees with the assertion that a member of the Riigikogu would make amendments on a whim.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi criticizes the Centre Party's rudeness, calling the draft legislation that breaks the budget down into details foolish, and confirms that he will not support the bill.
Aseesimees Arvo Aller
AI Summary
Deputy Chairman Arvo Aller calls upon Mart Helme.
Mart Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Helme emphasizes the importance of details, citing Annely Akkermann's claim that members of parliament do not need to understand the state budget. He then asks whether the minister shares this view and if the presented document is required to be so complex that representatives cannot understand it.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi stated that the Riigikogu often focuses on details and lacks a genuine interest in the big picture, and that answers and understanding of the budget are best obtained through the committee and the established procedure, rather than debating a single detail in the plenary session.
Aseesimees Arvo Aller
AI Summary
Deputy Chairman Arvo Aller addressed Andrei Korobeinik and asked if there was anything concerning the conduct of the session.
Andrei Korobeinik
Profiling Eesti Keskerakonna fraktsioonAI Summary
Andrei Korobeinik addressed the presiding officer of the session, asking how a high-quality parliamentary debate can be held if the minister continuously changes his statements, and whether the debate should focus on what he says or what he actually thinks.
Aseesimees Arvo Aller
AI Summary
During the debate on this draft bill, questions are asked, the minister's answers will be included in the official transcript, and they can be contextualized later.
Helle-Moonika Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Helle-Moonika Helme claims that although the coalition promised to make the budget more transparent, according to the National Audit Office, 2.4 billion of the 2024 budget is moving opaquely to the left, and the annex to the explanatory memorandum makes the situation even darker.
Aseesimees Arvo Aller
AI Summary
Vice-Chairman Arvo Aller urges the audience to take action, stating that their time has come.
Helle-Moonika Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
He asks how much taxpayer money is intended to be non-transparently siphoned off.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that the debate must be made more transparent, by adding costs to the explanatory memorandum based on their economic substance, and by allowing monitoring of both the purpose of the activities and the resources expended for them. However, he emphasized that the Riigikogu should not amend the budget at the level of individual institutions' revenue lines, as this falls outside the competence of the legislature.
Aseesimees Arvo Aller
AI Summary
Deputy Chairman Arvo Aller asks Varro Vooglaid to come forward.
Varro Vooglaid
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Vooglaid argues that the Chancellor of Justice's claim regarding the state budget's compliance with the constitution is mistaken, because Madise and other sources confirm that paragraphs 115–116 stipulate a strong role for parliament and the right to amend the budget, which the proposed budget fails to ensure.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that next year's budget complies with the constitution, although there is a dispute regarding the framework law, and the budget is made better and more transparent in this respect every year, giving the government room for corrections within reasonable limits. However, members of the Riigikogu lack advisors and official staff compared to the executive branch, which makes the discussion more complicated.
Aseesimees Arvo Aller
AI Summary
This is simply a plea directed at Rain Epler.
Rain Epler
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Rain Epler criticized the demagogic rhetoric and asked whether it wouldn't be sensible to include cost-based allocation as part of the law, along with thresholds. He suggested that reallocations exceeding these limits should require approval from the Riigikogu, arguing that without this measure, millions earmarked for investments could be diverted to cover other expenditures.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi is positive about this idea.
Aseesimees Arvo Aller
AI Summary
Deputy Speaker Arvo Aller calls upon Helle-Moonika Helme to speak.
Helle-Moonika Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Helle-Moonika Helme is criticizing the government over the confusing and opaque nature of the budget, referring to the coalition agreement which promises that alongside the explanatory memorandum for the 2025 budget, they would also publish an activity-based budget and a cost-accounting based budget. She then asks why this is not being done and what exactly is planned with that billion.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that the budget addendum reflects the agreed economic picture, which the Ministry of Finance adjusts for the better every year, and that this addendum fulfills a point from the coalition negotiations, so he is not going to repeat it for the seventeenth time.
Aseesimees Arvo Aller
AI Summary
Aivar Kokk is called to speak.
Aivar Kokk
Profiling Isamaa fraktsioonAI Summary
Aivar Kokk stated that next year's state budget contains investment lines totaling millions of euros whose purpose is not yet known, and which could potentially be covertly directed toward earmarks. He stressed that these expenditures must be made public.
Aseesimees Arvo Aller
AI Summary
The speech emphasizes that now is your time to act.
Aivar Kokk
Profiling Isamaa fraktsioonAI Summary
Aivar Kokk said that politically, an agreement has been reached regarding the pork-barrel funding, which amounts to millions, but which has not been separately itemized in the budget.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi stated that he did not understand the question and proceeded to explain the complexity of foundation funding: some subsidies are already known, while only general totals are provided for others. He stressed that internal security has received more favorable funding than other sectors, a situation that has drawn criticism from the Minister of the Interior. Nevertheless, he must secure the necessary coverage (or allocate the funds) and has been in a somewhat privileged position regarding the acquisition of money.
Aseesimees Arvo Aller
AI Summary
Helle-Moonika Helme posed a question to the presiding officer regarding procedures.
Helle-Moonika Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Helle-Moonika Helme emphasizes that the chair of the session must serve the members of the Riigikogu regardless of whether they are in the opposition or the coalition. The Riigikogu is the government's employer, and the minister is the accountable party, which is why there is a right to ask about the state budget, and polite language must be maintained during the discussion.
Aseesimees Arvo Aller
AI Summary
Arvo Aller said that he cannot tell the minister what he must answer, because the minister himself knows what a reasonable answer would be, and all of this is recorded in the transcript and will be reviewed later, and then he turned to Urmas Reinsalu.
Urmas Reinsalu
Profiling Isamaa fraktsioonAI Summary
Urmas Reinsalu emphasizes that the Chancellor of Justice and the Auditor General, in their joint address, acknowledge the importance of the base law issue and find that the current base law may be unconstitutional, and that the presented draft bill does not solve the problem. He then asks why Ligi came to parliament and what the substantive and strategic objective of this initiative is, besides political slogans.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi stated that the budget format has become more transparent in recent years, better reflecting both strategic goals and the rationale behind expenditures, rather than merely the figures for individual spending items, and that its further development will continue.
Aseesimees Arvo Aller
AI Summary
Deputy Chairman Arvo Aller calls upon Andres Metsoja to speak.
Andres Metsoja
Profiling Isamaa fraktsioonAI Summary
Andres Metsoja raises questions regarding the internal security budget and action plan, stresses his opposition to the planned shooting range in Võru and the closure of the Paikuse police school, and finds that the cuts and investments lack a comprehensive overview, which is difficult to explain to voters in Pärnumaa.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi stated that although the closure of major facilities is unfortunate, development efforts must concentrate on the Väike-Maarja region. He added that the Paikuse project has been stalled for years, that the issue of shooting ranges is currently being discussed, and that treatment regarding funding should be more equitable. However, he declined to discuss the topic at length and instead addressed the media.
Aseesimees Arvo Aller
AI Summary
Deputy Speaker Arvo Aller gives the floor to Urmas Reinsalu.
Urmas Reinsalu
Profiling Isamaa fraktsioonAI Summary
Urmas Reinsalu states that, according to the assessments of the Chancellor of Justice and the Auditor General, the impact of this law is small, and this initiative does not solve the actual problem of the State Budget Basic Law. He then asks why they are in this position and whether he has communicated directly with them.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi says that budget problems are being hidden behind rhetoric and form, and we must focus on the real issues like balance and deficit, rather than just discussing the budget format, especially during wartime.
Aseesimees Arvo Aller
AI Summary
Deputy Speaker Arvo Aller asked Urmas Reinsalu to put a procedural question to the Chair.
Urmas Reinsalu
Profiling Isamaa fraktsioonAI Summary
Urmas Reinsalu suggested establishing a tradition where the presiding officer of the session verbally commends the speaker after they provide a substantive answer, in order to defuse tensions.
Aseesimees Arvo Aller
AI Summary
Deputy Chairman Arvo Aller stated that new initiatives are welcome, but disagreements could arise based on approval or disapproval, and therefore, the questions must be addressed individually. He then asked Mart Helme to present his question.
Mart Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Mart Helme notes that the objective of cultural policy is to foster a society that values creativity, to preserve and advance Estonian national identity, to safeguard cultural memory, and to establish favorable conditions for the development of a vibrant, open, and diverse cultural sphere and for participation in culture. However, he points out that cuts made in certain sectors contradict this objective. He then references the recent demonstration by cultural workers held in front of the Riigikogu and requests the minister's comment on the matter.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that the discussion mainly concerned a completely different bill and was irrelevant rambling, noting that only about 30% of it was substantive debate. He added that the cut to culture was no greater than in other sectors or than previously agreed upon, and he would answer the question regarding culture next time.
Aseesimees Arvo Aller
AI Summary
There were no further questions. Thank you, Minister. Next, we have Maris Lauri, a member of the Finance Committee, presenting as the rapporteur for the lead committee.
Maris Lauri
Profiling Eesti Reformierakonna fraktsioonAI Summary
During the Finance Committee meeting, the draft legislation under discussion highlighted the flexibility required for reallocating ministerial financial resources, as well as the necessity of having both a performance-based budget and an administrative and cost-based budget. A consensus was reached to add the bill to the plenary session agenda on October 16th, designate Maris Lauri as the representative of the lead committee, and conclude the first reading.
Aseesimees Arvo Aller
AI Summary
The Deputy Chairman announces the start of the faction negotiations, and Anastassia Kovalenko-Kõlvart takes the floor on behalf of the Estonian Centre Party faction, requesting three minutes of additional time.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
The speaker claims that the coalition’s promise of budget transparency has not been fulfilled, and the current draft bill is merely cosmetic because it fails to show all revenue and expenditure lines, reduces the role of parliament, and grants ministers the right to alter expenditure lines after the budget has been adopted. However, the Centre Party’s transparency bill, which would apply to sums starting from 500,000 euros, would constitute a genuine step forward and should be fast-tracked for proceedings.
Aseesimees Arvo Aller
AI Summary
Aivar Kokk is now invited to speak, on behalf of the Isamaa Faction.
Aivar Kokk
Profiling Isamaa fraktsioonAI Summary
Aivar Kokk criticizes the state budget, claiming it hides pork barrel funding by burying it within the line items. He then presented Isamaa’s proposal, which mandates that all state budget expenditures—salaries, operating costs, social benefits, investments, and other costs—must be itemized by legal entity. Furthermore, the actual costs of major investments, such as the relocation of the Health Insurance Fund (Tervisekassa), must be disclosed to ensure the budget is transparent and accountable.
Aseesimees Arvo Aller
AI Summary
This call has three minutes left.
Aivar Kokk
Profiling Isamaa fraktsioonAI Summary
Aivar Kokk criticizes the opacity of the state budget, exposing hidden lines of pork-barrel spending (earmarks) and the 21 million euro construction of a shooting range in Võru County. He calls for the draft amendment to the State Budget Act to be rejected during its first reading, and for these bills to be processed jointly so that the budget can be truly transparent.
Aseesimees Arvo Aller
AI Summary
Rain Epler is requested to speak on behalf of the Estonian Conservative People's Party.
Rain Epler
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Rain Epler stated that the National Audit Office's analysis shows 2.4 billion in state funds that have been allocated in such a way that they cannot be tied back to the state budget and whose destination has not been clearly presented to the Riigikogu. He intends to submit an amendment proposal that would make the itemization according to economic costs mandatory and would establish limits on ministers' ability to reallocate funds, provided the Minister of Finance agrees with it.
Aseesimees Arvo Aller
AI Summary
Maris Lauri is speaking on behalf of the Estonian Reform Party faction.
Maris Lauri
Profiling Eesti Reformierakonna fraktsioonAI Summary
Maris Lauri stated that the basic law and the budget's explanatory memorandum have significantly improved, and although the draft bill is a step forward, it is necessary to continue constructive cooperation in the Riigikogu and make amendments where needed to ensure the budget is understandable.
Aseesimees Arvo Aller
AI Summary
Deputy Chairman Arvo Aller concluded the discussions and put to a vote the proposal by the Estonian Centre Party faction and the Isamaa faction to reject draft bill 511 at the first reading.
Aseesimees Arvo Aller
AI Summary
The proposal did not receive support (21 in favor, 55 against); the first reading is concluded, the deadline for submitting amendments is 5:15 PM on October 30th of this year, and we have reviewed the fourth item on today's agenda.