Chamber of Commerce voice opinion on 2024/25 budget

A public meeting was held at the town hall on Monday to discuss the recently approved Government Budget. At the meeting the financial secretary Pat Clunie discussed the operating income, costs and surplus predicted for the next five years. He explained that the current surplus has been boosted by corporation tax and investment income, with the expectation that over the next 5 years neither are anticipated to have a significant impact on FIG’s operating revenue.

The borrowing cost of £100 million for the port was also highlighted as not being part of the surplus figures and has instead been included in the capital costs. It was emphasised that Falkland Islands government are keen to provide opportunities for the private sector to be involved in capital projects – the main two factors to the Islands development being the operating surplus and an engaged private sector.

We spoke to Chair Mike Summers and Director of the Chamber of Commerce Sam Cockwell on their opinions on the government budget.

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