Turks and Caicos Islands: UK calls for $20m fiscal surplus before Turks and Caicos Islands elections | tcweeklynews.com

TCI must be “well on course” to achieving a colossal $20m fiscal surplus by April 2013 in order for elections to take place. And that’s no mean feat with the current financial crisis equating to a staggering $12,000 debt for every man, woman and child living in the Islands.

Overturning the country’s pecuniary woes is one of the much touted “milestones” before a return to self-government. It is hoped that the string of recently announced taxes will prompt a sharp spike in revenue. But it presents Islanders with something of an economic ultimatum – pay up or stay under British rule.

A statement issued by Government on Wednesday reiterated London’s stance that the country must balance its books.

Full Article: TCI must have $20m fiscal surplus for elections.

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