| PNP criticizes government’s latest budget statement | | Print | |
| Thursday, 09 June 2011 08:15 | |||
 The Progressive National Party says the government’s latest statement on the financial situation of the country is “excessively gloomy, dramatically inaccurate, and hopelessly inadequate to addressing our country’s pressing fiscal challenges.” The interim government’s statement May 31 begins: “The government of the Turks and Caicos Islands is in the middle of a financial crisis. As a result of the actions of the previous administration it has been running a significant budget deficit since 2007 and has accumulated high levels of debt as a result.” The government has been cutting government expenses, refinancing government debt and imposed new taxes for two years leading up to the imposition of value-added taxes in 2013 to achieve a balanced budget. The PNP says it presided over the greatest period of expansion in the country’s history, while the interim government has plunged the country deep into debt and done little to improve the lot of its residents. The government’s statement ignores its own failures in trying to right the country’s finances since taking over in August 2009, according to the PNP. “The governor and interim administration have had over two years to fix the perceived problems of our country; but regrettably over that period of time they have proven to be an abysmal debacle,” the party statement said. “It’s about time they take responsibility and stop blaming the PNP for their failures.” “With all that is happening in this country, we are sincerely disappointed that the governor had a moment when he could have put ideas on the table, or try to engage in a thoughtful dialog to fix this country’s economic and fiscal problems, decided instead to pour out anti-TCI rhetoric, and pass partisan broadsides against us.” Click here to read the full PNP statement.
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