Beautiful Virgin Islands

Wednesday, Dec 10, 2025

Budget Speech was about vision not 'pie in the sky' ideas - Premier Fahie

With the 2020 Budget Speech promising a myriad of economic diversification projects such as gaming, medical marijuana, drag racing and financial technology in the Virgin Islands, Premier and Minister of Finance, Hon Andrew A. Fahie says his speech was never about the figures, rather about the accompanying vision.

The Premier made these sentiments on Tuesday, January 7, 2020 when he sat down with 'Honestly Speaking' radio host Mr Claude O. Skelton-Cline on public Radio ZBVI 780 AM to speak on several plans that his government will be embarking on and to bring clarity on existing projects being implemented in 2020.


Promises not a 'Pie in the Sky' - Hon Fahie

'When people hear the Budget Speech, some say it was a pie in the sky. The Budget Speech was not about figures, it was about vision... a vision about of how do we move into the new BVI where we all have a stake in it,' Hon Fahie said.

According to the Premier, part of the reason certain aspect of the Budget Speech may seem unattainable is due to VI's historical economic generators.

"For our people now, seeing our economy mostly being financial services and [how] it has done us well, they have not been directly involved. So when they see certain things happening, they are unconcerned—some of them—and we have to make sure now everyone is concerned," he said.

Premier Fahie noted that getting the 2020 Budget passed in the same year as the earlier transitional budget was a heavy feat; however, he made it happen with the help of the Finance team despite critics going against the idea.

"When we were doing it I made a promise with my team that we will get the next budget passed in record time before 2020 begins, and I made a statement that we would get it passed by December 15th," he said.

Hon Fahie continued, "I always believe that once you set goals and you work hard towards them and they meet the favour of God, you will get them achieved."


VI was in Violation of Financial Management Act - Hon Fahie

And even while praising the accomplishment of passing two budgets 10 months apart, Premier Fahie lamented that when the Virgin Islands Party (VIP) Government took office in February 2019, the Territory was in violation of the 2012 Protocols for Effective Financial management (PEFM).

According to Hon Fahie, $26.9M had to be placed in the Reserve Fund to take the VI out of violation, "That was a challenge... to be putting that into the reserves at a time when people still needed their roofs repaired," he said.

The Leader of Government Business noted; however, that getting the 2020 Budget passed in record time and bringing the Territory up to date with the PEFM showed his government is serious about prudent financial management and getting on with the business of the people.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
UK Warns of Escalating Cyber Assault Linked to Putin’s State-Backed Operations
UK Consumer Spending Falters in November as Households Hold Back Ahead of Budget
UK Orders Fresh Review of Prince Harry’s Security Status After Formal Request
U.S. Authorises Nvidia to Sell H200 AI Chips to China Under Security Controls
Trump in Direct Assault: European Leaders Are Weak, Immigration a Disaster. Russia Is Strong and Big — and Will Win
"App recommendation" or disguised advertisement? ChatGPT Premium users are furious
"The Great Filtering": Australia Blocks Hundreds of Thousands of Minors From Social Networks
Mark Zuckerberg Pulls Back From Metaverse After $70 Billion Loss as Meta Shifts Priorities to AI
Nvidia CEO Says U.S. Data-Center Builds Take Years while China ‘Builds a Hospital in a Weekend’
Indian Airports in Turmoil as IndiGo Cancels Over a Thousand Flights, Stranding Thousands
Hollywood Industry on Edge as Netflix Secures Near-$60 Bln Loan for Warner Bros Takeover
Drugs and Assassinations: The Connection Between the Italian Mafia and Football Ultras
Hollywood megadeal: Netflix acquires Warner Bros. Discovery for 83 billion dollars
The Disregard for a Europe ‘in Danger of Erasure,’ the Shift Toward Russia: Trump’s Strategic Policy Document
Two and a Half Weeks After the Major Outage: A Cloudflare Malfunction Brings Down Multiple Sites
UK data-regulator demands urgent clarity on racial bias in police facial-recognition systems
Labour Uses Biscuits to Explain UK Debt — MPs Lean Into Social Media to Reach New Audiences
German President Lays Wreath at Coventry as UK-Germany Reaffirm Unity Against Russia’s Threat
UK Inquiry Finds Putin ‘Morally Responsible’ for 2018 Novichok Death — London Imposes Broad Sanctions on GRU
India backs down on plan to mandate government “Sanchar Saathi” app on all smartphones
King Charles Welcomes German President Steinmeier to UK in First State Visit by Berlin in 27 Years
UK Plans Major Cutback to Jury Trials as Crown Court Backlog Nears 80,000
UK Government to Significantly Limit Jury Trials in England and Wales
U.S. and U.K. Seal Drug-Pricing Deal: Britain Agrees to Pay More, U.S. Lifts Tariffs
UK Postpones Decision Yet Again on China’s Proposed Mega-Embassy in London
Head of UK Budget Watchdog Resigns After Premature Leak of Reeves’ Budget Report
Car-sharing giant Zipcar to exit UK market by end of 2025
Reports of Widespread Drone Deployment Raise Privacy and Security Questions in the UK
UK Signals Security Concerns Over China While Pursuing Stronger Trade Links
Google warns of AI “irrationality” just as Gemini 3 launch rattles markets
Top Consultancies Freeze Starting Salaries as AI Threatens ‘Pyramid’ Model
Macron Says Washington Pressuring EU to Delay Enforcement of Digital-Regulation Probes Against Meta, TikTok and X
UK’s DragonFire Laser Downs High-Speed Drones as £316m Deal Speeds Naval Deployment
UK Chancellor Rejects Claims She Misled Public on Fiscal Outlook Ahead of Budget
Starmer Defends Autumn Budget as Finance Chief Faces Accusations of Misleading Public Finances
EU Firms Struggle with 3,000-Hour Paperwork Load — While Automakers Fear De Facto 2030 Petrol Car Ban
White House launches ‘Hall of Shame’ site to publicly condemn media outlets for alleged bias
UK Budget’s New EV Mileage Tax Undercuts Case for Plug-In Hybrids
UK Government Launches National Inquiry into ‘Grooming Gangs’ After US Warning and Rising Public Outcry
Taylor Swift Extends U.K. Chart Reign as ‘The Fate of Ophelia’ Hits Six Weeks at No. 1
250 Still Missing in the Massive Fire, 94 Killed. One Day After the Disaster: Survivor Rescued on the 16th Floor
Trump: National Guard Soldier Who Was Shot in Washington Has Died; Second Soldier Fighting for His Life
UK Chancellor Reeves Defends Tax Rises as Essential to Reduce Child Poverty and Stabilise Public Finances
No Evidence Found for Claim That UK Schools Are Shifting to Teaching American English
European Powers Urge Israel to Halt West Bank Settler Violence Amid Surge in Attacks
"I Would Have Given Her a Kidney": She Lent Bezos’s Ex-Wife $1,000 — and Received Millions in Return
European States Approve First-ever Military-Grade Surveillance Network via ESA
UK to Slash Key Pension Tax Perk, Targeting High Earners Under New Budget
UK Government Announces £150 Annual Cut to Household Energy Bills Through Levy Reforms
UK Court Hears Challenge to Ban on Palestine Action as Critics Decry Heavy-Handed Measures
×