TCI News
Reader-friendly Budget published at TCI Gov’t site; explains historic $290m allocation
#Providenciales, Turks and Caicos Islands – Thursday July 26, 2018 – The largest budget in the history of the Turks and Caicos Islands was passed on Friday July 13, 2018 and a reader-friendly version is now published online, said Premier and Finance Minister Sharlene Robinson today.
“This year we continued the Citizen’s Guide to the Budget and you can find it at www.gov.tc which is a short overview of the Budget’s contents and I present to you, this today, highlighting critical spending and projects for this financial year.”
The 2018-2019 Budget communication was delivered on July 10, 2018 and national spending for this fiscal period is put at $290,014,177.41. Absorbing the largest share of the new Budget are Health Care and Education, explained the Finance Minister in a media debriefing at her Providenciales office.
Despite commendation for the Turks and Caicos for presenting a bigger budget, there is skepticism from observers including the Official Opposition PNP, which charges that the PDM Administration did not deliver on its commitments during the last fiscal year and will fall short again in 2018-2019. The Premier however strongly disagreed. 
“…we were very successful last year, we have 71 or 72 out of 78 projects and only eight projects were cancelled. So we were extremely successful last year and yesterday, we received a report from the Deputy Governor that over 90 percent of those have already reached the contract stage.” Hon Robinson admitted, “…it is an ambitious budget which is why we are introducing additional staff… so that we do have the manpower, we do have the money…”
The Budget is late; the Turks and Caicos fiscal year usually begins in April. Premier Sharlene Robinson explained that the catastrophic blow dealt the islands in the 2017 Atlantic Hurricane Season forced a delay in the delivery of the new financial year estimates.
“We had a very difficult time trending what our revenues, and I shouldn’t say difficult… we wanted to be careful, it is important to do that. Even though we are reducing our savings by $21m, we have to demonstrate that we are going to be able to replenish it. We also have to demonstrate that we will begin to look back at a surplus budget, because according to the Constitution, you cannot have a deficit budget. So we had to get UK approval for the Deficit Budget for the reduction or pulling money from our savings and proving how we are going to replenish it.”
The Premier, joined by Infrastructure Minister, Goldray Ewing during the media meeting, explained that again the PDM Administration is pleased with the projections for capital spending. Earmarked projects are priced, cumulatively, at over $36.6 million with major projects being road works in Providenciales, a seawall for Salt Cay and reconstruction at public education facilities.
“Included in our Capital Program this year is school repairs with Oseta Jolly as priority, the Community College, Helena Jones Robinson High School, Raymond Gardiner High school – all approved since February this year and of course Marjorie Basden High School and Iris Stubbs Primary School where works have already begun in South Caicos.” Premier Robinson added: “This Budget Year we have Ianthe Pratt, Enid Capron Primary, Mary Robinson primary school, Clement Howell High School and Eliza Simons primary school; they have also included furniture for the Long Bay High School new block.”
Getting double mention was the 8 percent increase in scholarship spending to $4 million; the extra money will enable the Scholarship Board to have more successful applicants. The deadline for requests has been extended to August 17, 2018.
“The scholarships have been increased to $4m and while that is an 8 percent increase we have a large number of students returning and so there is a considerable amount of money in this year’s Budget for scholarships.”
The Budget, which is the second for the PDM Party since being elected to office in December 2016, also projects a deficit of over $10m which will be covered by money in the country’s savings account.
“Of note is the fact that the Budget also projects a deficit and a drawing down of $21 million on the country’s savings, which is the second time since the storm; first in February in relation to the Supplementary Appropriation Bill that we had received the UK’s approval to draw down on our reserves and to run a deficit.”
The link to the six page Citizens’ Guide to the Budget 2018-2019 is below:
http://online.fliphtml5.com/pejq/hdge/
Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.
Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The
development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.
Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.
Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.
Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.
Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.
The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.
Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of
IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”
He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”
Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”
The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion
Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.
-
Health1 week agoAstraZeneca withdraws COVID vaccines after millions took their jabs
-
Caribbean News5 days agoBelize, Jamaica and St. Vincent and the Grenadines eliminate mother-to-child transmission of HIV and Syphilis
-
TCI News5 days agoEquity in Energy says Bahamas Energy & Transport Minister in legislative roll out
-
TCI News5 days agoFamily of 16 tourist claims negligence in Grand Turk jet ski death; Coroner’s Court hearing evidence
-
Caribbean News5 days agoMagnetic Media attends Caribbean Media Summit, in focus AI in Journalism
-
world news6 days agoElectricity Access for 600 Million a goal of UN Sustainability Week
-
TCI News3 days agoAMERICAN MOTHER AND DAUGHTER ALLEGEDLY ARRESTED FOR TWO BULLETS
-
Bahamas News5 days agoThe Bahamas Successfully Hosts Its Fourth World Athletics Relays