THE Budget for 2019/20 was announced as £116.8 million at this week’s Legislative Assembly Budget Session.
The main areas of investment for the coming 12 months include:
• £24m for health and wellbeing
• £10m for education and training
• £22.8m on radio communications, transportation and infrastructure
• £2.6m on protecting the environment
The Budget also included a £39.3m commitment to capital projects in 2018/19, continuing with the major initiatives proposed in the last Budget for the development of new housing, replacement port facilities, the Tussac House extra care facility and further surfacing works to the MPA Road.
Financial Secretary James Wilson stated: “With a strong economy, and the contribution made in particular by the fishing industry, along with farming and tourism, the finances of Falkland Islands Government remain stable.”
He cautioned: “There is of course always the risk of an unforeseen reduction in one or more of the main revenues that Falkland Islands Government has. A protected reserve of two and a half-times operating costs has been maintained, and this was renewed as a budget principle during the current year.”
MLA Mark Pollard, Chair of the Legislative Assembly, said: “The foundation of this Budget is the wellbeing of people across the Falkland Islands and we believe it reflects the priorities of the public whom we serve. We want to create a more equal and sustainable future for everyone and this is why we have taken the step of investing in local services which matter the most to Falkland Islanders.”