Beautiful Virgin Islands

Monday, Jan 19, 2026

Gov't will go bankrupt if new streams of revenue not generated

Gov't will go bankrupt if new streams of revenue not generated

Leader of the Opposition Marlon Penn has said he believes the British Virgin Islands will go bankrupt if the government does not swiftly devise a plan to generate new streams of revenue to boost the economy.

Since the COVID-19 is affecting the territory’s two main revenue earners — financial services and tourism — Penn said a new plan is needed if government is to sustain its current monthly expenses, which are are said to be more $23 million.

“That’s their recurrent expenditure. That has nothing to do with the projects that you see — the cleaning up of the roads, the planting of the palm trees that are in excess of tens of thousands of dollars. That is what government spends every month to keep the lights on, and we continue to balloon that number.”

“The numbers are very clear that if we continue on this trend without looking at ways to increase revenue, without looking at ways to get the economy going again, it is unsustainable. The government will eventually run out of funds,” he added.

Fluid plan needed or more salary cuts expected


Penn also alluded to the recent salary cuts at the BVI Airports Authority and said similar cuts in other institutions are expected if the government does not come up with a plan that can coexist with COVID-19.

“We need to have a solid plan of how we are going to manage the economy of this territory. If we do not put a plan in place for the economy that is going to be the reality of every entity across the government’s responsibility,” the Opposition Leader stated.

He added: “It is a bleak reality but it is a reality where we have to find a way to get the economy going again. We have to figure out how to get things moving again, and we have to do it in a safe way, a responsible way.”

What message is being sent by the government?


While sharing similar sentiments to Penn, Second District Representative Melvin ‘Mitch’ Turnbull pointed to the inconsistencies in the government’s latest decisions to tackle the virus and revive the economy.

He referenced the decision to lockdown one of the areas of his constituency, Jost Van Dyke, after a single suspected COVID-19 case was reported.

“A shutdown order was given for the island of Jost Van Dyke … and they tested everybody on the island. But now we hear of several reported cases in Tortola and we seem to be playing pelinki ball with people’s health,” he said.

“You shut down the banks, you shut down the financial services, you shut down businesses who have gone through this tedious process to get approvals to open and then allow persons to frolic and gather between 5 and 5,” he added.

Turnbull further questioned the intended message the government is sending to the public, stating that it seems that no real plan is in place.

“Are we really trying to be popular or are we trying to promote business? Are we trying to stimulate the economy or are we just doing what we think we should do? Again, there is the absence of a plan,” he stated.

The BVI currently has more than three dozen active cases of COVID-19 and is currently classified as having clusters of the virus.

The territory is also under a 14-day, 5 pm-to-5 am curfew.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
High-Speed Train Collision in Southern Spain Kills at Least Twenty-One and Injures Scores
Meghan Markle May Return to the U.K. This Summer as Security Review Advances
Trump’s Greenland Tariff Threat Sparks EU Response and Risks Deep Transatlantic Rift
Prince Harry’s High Court Battle With Daily Mail Publisher Begins in London
Trump’s Tariff Escalation Presents Complex Challenges for the UK Economy
UK Prime Minister Starmer Rebukes Trump’s Greenland Tariff Strategy as Transatlantic Tensions Rise
Prince Harry’s Last Press Case in UK Court Signals Potential Turning Point in Media and Royal Relations
OpenAI to Begin Advertising in ChatGPT in Strategic Shift to New Revenue Model
GDP Growth Remains the Most Telling Barometer of Britain’s Economic Health
Prince William and Kate Middleton Stay Away as Prince Harry Visits London Amid Lingering Rift
Britain Braces for Colder Weather and Snow Risk as Temperatures Set to Plunge
Mass Protests Erupt as UK Nears Decision on China’s ‘Mega Embassy’ in London
Prince Harry to Return to UK to Testify in High-Profile Media Trial Against Associated Newspapers
Keir Starmer Rejects Trump’s Greenland Tariff Threat as ‘Completely Wrong’
Trump to hit Europe with 10% tariffs until Greenland deal is agreed
Prince Harry Returns to UK High Court as Final Privacy Trial Against Daily Mail Publisher Begins
Britain Confronts a Billion-Pound Wind Energy Paradox Amid Grid Constraints
The graduate 'jobpocalypse': Entry-level jobs are not shrinking. They are disappearing.
Cybercrime, Inc.: When Crime Becomes an Economy. How the World Accidentally Built a Twenty-Trillion-Dollar Criminal Economy
The Return of the Hands: Why the AI Age Is Rewriting the Meaning of “Real Work”
UK PM Kier Scammer Ridicules Tories With "Kamasutra"
Strategic Restraint, Credible Force, and the Discipline of Power
United Kingdom and Norway Endorse NATO’s ‘Arctic Sentry’ Mission Including Greenland
Woman Claiming to Be Freddie Mercury’s Secret Daughter Dies at Forty-Eight After Rare Cancer Battle
UK Launches First-Ever ‘Town of Culture’ Competition to Celebrate Local Stories and Boost Communities
Planned Sale of Shell and Exxon’s UK Gas Assets to Viaro Energy Collapses Amid Regulatory and Market Hurdles
UK Intensifies Arctic Security Engagement as Trump’s Greenland Rhetoric Fuels Allied Concern
Meghan Markle Could Return to the UK for the First Time in Nearly Four Years If Security Is Secured
Meghan Markle Likely to Return to UK Only if Harry Secures Official Security Cover
UAE Restricts Funding for Emiratis to Study in UK Amid Fears Over Muslim Brotherhood Influence
EU Seeks ‘Farage Clause’ in Brexit Reset Talks to Safeguard Long-Term Agreement Stability
Starmer’s Push to Rally Support for Action Against Elon Musk’s X Faces Setback as Canada Shuns Ban
UK Free School Meals Expansion Faces Political and Budgetary Delays
EU Seeks ‘Farage Clause’ in Brexit Reset Talks With Britain
Germany Hit by Major Airport Strikes Disrupting European Travel
Prince Harry Seeks King Charles’ Support to Open Invictus Games on UK Return
Washington Holds Back as Britain and France Signal Willingness to Deploy Troops in Postwar Ukraine
Elon Musk Accuses UK Government of Suppressing Free Speech as X Faces Potential Ban Over AI-Generated Content
Russia Deploys Hypersonic Missile in Strike on Ukraine
OpenAI and SoftBank Commit One Billion Dollars to Energy and Data Centre Supplier
UK Prime Minister Starmer Reaffirms Support for Danish Sovereignty Over Greenland Amid U.S. Pressure
UK Support Bolsters U.S. Seizure of Russian-Flagged Tanker Marinera in Atlantic Strike on Sanctions Evasion
The Claim That Maduro’s Capture and Trial Violate International Law Is Either Legally Illiterate—or Deliberately Deceptive
UK Data Watchdog Probes Elon Musk’s X Over AI-Generated Grok Images Amid Surge in Non-Consensual Outputs
Prince Harry to Return to UK for Court Hearing Without Plans to Meet King Charles III
UK Confirms Support for US Seizure of Russian-Flagged Oil Tanker in North Atlantic
Béla Tarr, Visionary Hungarian Filmmaker, Dies at Seventy After Long Illness
UK and France Pledge Military Hubs Across Ukraine in Post-Ceasefire Security Plan
Prince Harry Poised to Regain UK Security Cover, Clearing Way for Family Visits
UK Junk Food Advertising Ban Faces Major Loophole Allowing Brand-Only Promotions
×