Advisory Council considering new revenue strategies

The Advisory Council met in Grand Turk on 7 October and considered a paper on a new Turks and Caicos Islands Government Revenue Strategy, according to a GIS release.

The release said that the Permanent Secretary/Finance Mr. Delton Jones and two advisers gave presentations on the short term and medium term measures outlined in the Paper.

In the short term, these measures included a review of all major concessions to ensure that there was compliance with their terms and conditions but also a stricter enforcement policy for current revenue measures, according to the statement.

It was noted that in the medium term, a study of the TCI revenue structure will be undertaken to examine options for the development of a revenue strategy that will finance the delivery of affordable and efficient services to the population while maintaining the competitiveness of the TCI economy in the markets in which it operates.

“The study will take into account the geographical, demographic, institutional, cultural and structural constraints of the Islands and will be conducted in a consultative manner with various private sector organisations being invited to make submissions both prior to and during the course of the study. In addition consideration was being given to the feasibility of carrying out a property valuation survey,” the release added.

The Council also discussed Healthcare issues. The Chief Executive briefed the Council members on his meetings with the NHIP Board and the Doctors Association. He advised that a comprehensive Press notice had been prepared to inform the Public and that it would be released shortly.

The Council concluded its discussion of Board membership.