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$485 Million Budget for TCI; Figures Revealed for 2024-2025

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Dana Malcolm

Staff Writer

 

#TurksandCaicos, April 19, 2024 – The PNP Administration is using their final budgetary allocation, an all-time high of $485 million to do ‘More in ‘24 ’ according to Washington Misick, TCI Premier and Finance Minister, when he opened the 2024/25 budget debates on April 16.

A people-focused budget is what Misick says the PNP has created for residents with tackling cost of living as its ‘number one priority.’Citing the expanding economy with rates over 12 percent and the possibility of a revised A Economy rating he said:

”The one thing that keeps me up at night is the constant quest for ways to help our people, especially those in the middle-income bracket and those below the poverty line. Our macroeconomic success must translate to human and social development. It must mean well organized and functioning communities where modern amenities are available and it must mean a better life for all.”

The Premier cited this determination as the reason for denying the recent FortisTCI application for an electricity rate increase and lowered fuel taxes.

In the Construction realm, Misick maintained the government was leveraging its power to deliver for residents as well while criticizing the PDM for allowing wealthy contractors to slide without paying maximum taxes

“Everywhere you turn there’s a new building going up— because of the splitting of purchase contracts for land and construction by foreign wealthy individuals, which the former administration supported, the government is earning less from stamp duty but I promise that will change,” The. Premier said

Misick revealed that the PNP had removed tax holidays, allowing more money to flow into the country from large developments.

Misick doubled down on his administration’s commitment to social welfare programs highlighting the over $6 million increase in welfare since the start of their tenure. For retirees, a 20 percent increase has been granted and the pension fund now has $21 million as of March 31, 2024.

”Fairness to us is supporting people out of poverty not trapping them in a cycle of dependence,” he maintained.

In terms of figures many remained unchanged from the draft budget tabled two weeks earlier. Revenue remained at $452 million while expenditure went up to $389 million.

The GDP of the country grew by 13.7 percent in 2023 and is projected to grow by 4 percent in 2024, and the TCI is now listed as a ‘positive’ economy up from a ‘stable’ rating.

TCIG only managed to spend 29 million out of the 57 million that was budgeted for capital projects which the premier blamed on the drawn-out procurement process, outdated laws, and insufficient resources. He maintained that the government is spending 300,000 in this financial year to review the procurement process. Optimistically TCIG again budgeted $63 million for capital projects this year.

The $485 million budget for 2024/25 was split into 10 main parts.

  1. $117.4 million – Public Service (Offices of Governor, House of Assembly, Ministries etc.)
  2. $ 90.5 million – Health
  3. $86.5 million –  Economic Affairs (Environmental and Coastal Resources,  Media, Energy and Utilities, Infrastructure Development including land acquisition, Tourism Product Enhancement, Agriculture, and Catastrophic Risk Insurance)
  4. $71.6 million –  Public Order and Safety ( $39.0 million will go towards Police Services, $20.9 million to the Judiciary, $19.2 million for Customs and Border Protection, Immigration, and Repatriations, $7.7 million for Prisons, and  $1.5 million has been allocated for Fire and Rescue.)
  5. $58.7 million – Education (Special Needs, Community College, Primary, Secondary and Daycare)
  6. $27.0 million – Social Protection
  7. $18.8 million – Estate Management, Housing and Community Amenities
  8. $9.6 million Defense (National Security Secretariat, Military, Disaster Management)
  9. $3.1 million  – Environmental Protection
  10. $1.3 million – Culture

The Premier also broke down a list of priority initiatives encapsulated in the allocation, they included:

  • $157.3 million for staff costs, around $30.7 million compared to the previous year.
  • $6 million for the Community Enhancement Projects/Works Programme across all islands.
  • $3.7 million for the Border Force
  • $3.5 million for the pay and grading exercise of statutory bodies.
  • $3.1 million for the Senior Citizens’ Financial Assistance Programme.
  • $1.5 million was added to Social Welfare allocations for a total of $10.1 million.
  • $1.4 million to cover an increase of 20 percent for pensioners and former legislators.
  • $900,000 for MSME Investment, which includes funding for training programs, technical assistance, and opportunities for business development.
  • $ 300,000 for the Prison Reforms and the Juvenile Intervention and Diversionary Programme to review the prison resourcing model within the Department of Correctional Services.
  • $ 800,000 for additional staff enhancement of the growth and capability of the TCI Regiment to strengthen the islands’ security against illicit activities.

As for how the Turks and Caicos will afford all of this, revenue is expected to be $465 million leaving the country in a deficit of $19 million. Misick admitted, though, that it was unlikely that the deficit would come to fruition.

The top ten earners are expected to be:

  • $119.6 million – Accommodation Tax
  • $112.5 million –  Import Duties
  • $54.2 million – Other Receipts
  • $50 million – Stamp Duty on Land Transactions
  • $42.9 million – Work Permit
  • $38.8million – Other Customs Duties
  • $11 million – Excess Revenue from Ports and Sea Travel Taxes –
  • $10.9million – Fuel Tax
  • $7.9 million – Vehicles and Driver’s License Fees
  • $7.3 million – Business and Banking Related Receipts

Misick maintained that the PNP is delivering for the people, and the budget would provide ‘More in ‘24’, he said:

”If you recall, when we came to office in 2021, I made it clear that this is “The People’s Term” We have never wavered from that commitment. We have used the People’s Contract as our guidepost to ensure that we deliver on the promise—Our budget is designed to give our people opportunities and change their lives for the better.”

Government

Government Outlines New Healthcare Vision as Interhealth Exit Accelerates Reform  

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By Magnetic Media Newsroom

 

PROVIDENCIALES, Turks and Caicos Islands — The Turks and Caicos Islands Government says the breakdown of its relationship with InterHealth Canada presents an opportunity to reshape healthcare delivery, with plans to expand local medical services, strengthen primary care and reduce dependence on overseas treatment.

During a national briefing following InterHealth Canada’s notice terminating its hospital contract, Premier Charles Washington Misick acknowledged publicly for the first time that Government and InterHealth had been negotiating an exit from the arrangement for more than a year after what he described as an “irretrievably broken down” relationship.

Despite the contractual dispute, Misick and Health Minister Kyle Knowles stressed that healthcare services will continue uninterrupted during the transition.

“Allow us to do our job,” Knowles appealed, assuring residents that Government is actively managing the transition and safeguarding patient care.

The Premier outlined what amounts to a broader healthcare transformation built around four connected levels of care: strengthened community-based primary healthcare; expanded polyclinic services; enhanced hospital-based secondary care with greater specialist capacity; and overseas tertiary treatment only for cases that cannot be managed locally.

Among the proposals are the long-discussed establishment of intensive care units, expanded use of currently unfinished hospital space, recruitment of more resident specialist physicians and stronger contract management to oversee future healthcare agreements.

Knowles said the new polyclinic model will broaden services available outside the hospitals, including dentistry, ophthalmology, laboratory services, diagnostic imaging, gynaecology and preventative screening, helping to reduce pressure on emergency departments while improving early intervention.

Misick also acknowledged that while the hospital system significantly improved healthcare access after opening in 2010, Government believes further reform is necessary to improve affordability, sustainability and the range of services available within the Turks and Caicos Islands.

The briefing marked the Government’s most comprehensive explanation to date of its plans beyond the InterHealth contract, signalling that officials now see the transition as an opportunity to redesign healthcare delivery rather than simply replace one operator with another.

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Education

Turks and Caicos Islands Students Excel at Cycle 13 WizdomCRM Regional AI Game National Awards Ceremony

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Ministry of Education Representatives with Rubis and Top 3 Performers

Providenciales, Turks and Caicos Islands – Wednesday, 22 July 2026:  The Ministry of Education, Youth, Sports and Culture proudly congratulates the students of the Turks and Caicos Islands on their outstanding performance at the Cycle 13 WizdomCRM Regional Virtual Sustainable Stock Market AI Game National Awards Ceremony.

The ceremony was held on Thursday, 16 July 2026, at the Blue Haven Resort, under the theme “Champions Today. AI Leaders Tomorrow.” It was hosted by the Ministry in collaboration with WizdomCRM.

Students across the Caribbean took part in the investment challenge, each beginning with a virtual portfolio of USD $25,000 and working to grow it through simulated investments on regional and international stock markets. Throughout the competition, students were guided by Mr. Rabbit, WizdomCRM’s AI Tutor, and supported by E-Classroom sessions, building financial literacy, critical thinking and investment skills.

The Turks and Caicos Islands emerged as the region’s top-performing territory, claiming the top six regional positions, securing 14 of the Caribbean’s Top 20 places, and placing four schools on the regional leaderboard. Leading the region was Marc Roubentz-Perceus of TCIPS Comprehensive High School, who grew his portfolio to USD $370,336.63. He was followed by Joshua Creese of Raymond Gardiner High School in second place, and Stendro Chalas of TCIPS Comprehensive High School in third. Raymond Gardiner High School was also recognised as the Top School for Cycle 13.

Hon. Rachel M. Taylor, Minister of Education, Youth, Sports and Culture, said: “I congratulate every student who took part in Cycle 13. You

have demonstrated the confidence to compete with the very best students regionally, and you have shown our country what is possible. This success is not luck; it is the result of an ecosystem built by students, teachers, parents, school leaders and partners who continue to invest in educational excellence. As we look ahead, the Ministry is in active discussions with WizdomCRM to expand access to its AI-powered learning tools, including Super AI, the AI Tutor, the Plagiarism Checker and the Grammar Checker, so that our young people are equipped with the future-ready skills they need to succeed.”

The Ministry extends sincere appreciation to the dedicated teachers who mentored the students, and to Rubis Turks and Caicos, whose sponsorship provided the cash prizes awarded to the top three regional champions. The Ministry also thanks WizdomCRM, participating schools, parents and stakeholders for their partnership in this achievement, which reflects the Ministry’s continued commitment to innovation, digital learning and youth development across the Turks and Caicos Islands.

WIZDOM CRM – Top Performers Cycle 13

Position  Name  School Portfolio Value Regional Placement
1st Marc Roubentz-Perceus TCIPS Comprehensive High School $ 370,336.63 1st
2nd Joshua Creese Raymond Gardiner High School $ 264,841.31 2nd
3rd Stendro Chalas TCIPS Comprehensive High School $ 247,738.09 3rd
4th Ojed’harlie Jolissaint Wesley Methodist School $ 227,389.60 4th
5th Tyshawn Wright Raymond Gardiner High School $ 189,064.18 5th
6th Jah’keem Missick Raymond Gardiner High School $ 173,654.58 6th
7th Curvin Handfield Raymond Gardiner High School $ 156,984.89 8th
8th Chadazea Darville Wesley Methodist School $ 147,428.43 9th
9th Vivaan Castleton British West Indies Collegiate $ 120,833.83 14th
10th Damendine Simplus TCIPS Comprehensive High School $ 118,660.55 15th
11th Dyvion Louis Raymond Gardiner High School $ 111,572.81 16th
12th Colin Moriarty British West Indies Collegiate $ 106,854.81 17th
13th Kensley Felix TCIPS Comprehensive High School $ 101,285.06 18th
14th Redjino Saint-Louis Raymond Gardiner High School $ 99,927.39 19th

TEACHERS

  1. Fexnel Colvert – TCIPS Comprehensive High School
  2. Valerie Olice – Raymond Gardiner High School
  3. Warren French – Wesley Methodist School
  4. Phyllis Boucher – British West Indies Collegiate

Top Performing School: Raymond Gardiner High School

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Government

Parnell Urges Premier to Step Aside, Proposes Bipartisan Board to Guide Healthcare Transition

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By Magnetic Media Newsroom

 

PROVIDENCIALES, Turks and Caicos Islands — Opposition Leader Douglas Parnell is calling on Premier Charles Washington Misick to step aside, arguing that the Government has failed to provide the leadership, transparency and public engagement needed as the Turks and Caicos Islands prepares for one of the most significant changes in its healthcare system.

Responding to Government statements following InterHealth Canada’s contract termination notice, Parnell said residents were only now learning officially that negotiations with the hospital operator had been underway for more than a year, despite several previous opportunities for Government to inform the public.

He questioned why no detailed explanation was provided during the State of the State Address, Budget Debate or recent healthcare announcements, including the opening of the new polyclinic.

Parnell argued that while the PDM supports reforming or replacing the existing hospital arrangement, the process must be transparent and centred on the public interest.

The Opposition Leader reminded residents that the PDM had challenged the InterHealth agreement while in government, pursuing arbitration and preparing further legal action over concerns about the contract before leaving office following the General Election.

To guide the next phase, Parnell proposed establishing a bipartisan Health Transition Board comprising Government and Opposition representatives to oversee the transition, monitor public accountability and manage the procurement process for any future healthcare provider.

He also outlined what the PDM believes should form the foundation of the next healthcare system, including guaranteed continuity of care, automatic employment protection for hospital workers, recruitment incentives for specialist physicians, expanded intensive care services, comprehensive mental health care, enhanced geriatric services and accelerated efforts to attract qualified Turks and Caicos Islanders in the medical profession back home.

Parnell also presented ten questions for Government covering outstanding payments, borrowing plans, legal implications, transition arrangements and the future structure of healthcare delivery.

He said the changes now unfolding require decisive leadership, openness and a carefully managed transition that places patients, healthcare workers and the long-term interests of the Turks and Caicos Islands first.

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