Beautiful Virgin Islands

Thursday, Apr 23, 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
News Roundup
Microsoft lost 2.5 millions users (French government) to Linux
Privacy Problems in Microsoft Windows OS
News roundup
Péter András Magyar and the Strategic Reset of Hungary
Hungary After the Landslide — A Strategic Reset in Europe
Meghan Markle Plans Exclusive Women-Focused Retreat During Australia Visit
Starmer and Trump Hold Strategic Talks on Securing Strait of Hormuz Amid Rising Tensions
Unofficial Australia Visit by Prince Harry and Meghan Expected to Stir Tensions with Royal Circles
Pipeline Attack Cuts Significant Share of Saudi Arabia’s Oil Export Capacity
UK Stocks Rise on Ceasefire Momentum and Renewed Focus on Diplomacy
UK to Hold Further Strategic Talks on Strait of Hormuz Security
Starmer Voices Frustration as Global Tensions Drive Up UK Energy Costs
UK Students Voice Concern Over Proposal for Automatic Military Draft Registration
Rising Volatility Drives Uncertainty in UK Fuel and Petrol Prices
UK Moves to Deploy ‘Skyhammer’ Anti-Drone System to Strengthen Airspace Defense
New Analysis Explores UK Budget Mechanics in ‘Behind the Blue’ Feature
Man Arrested After Four Die in Channel Crossing Tragedy
UK Tightens Immigration Framework with New Sponsor Rules and Fee Increases
UK Foreign Secretary Highlights Impact of Intensified Strikes in Lebanon
UK Urges Inclusion of Lebanon in US-Iran Ceasefire Framework
UK Stocks Ease as Ceasefire Doubts in Middle East Weigh on Investor Confidence
UK Reassesses Cloud Strategy Amid Criticism Over Limited Support Measures
UK Calls for Full and Toll-Free Access Through Strait of Hormuz Amid Rising Tensions
Starmer Signals Strategic Shift for Britain Amid Escalating Iran-Linked Tensions
UK Issues Firm Warning to Russia Over Covert Underwater Military Activity
OpenAI Halts Stargate UK Project, Casting Uncertainty Over Britain’s AI Expansion Plans
Starmer Voices Frustration Over Global Pressures Driving UK Energy Costs Higher
UK Deploys Military Assets to Protect Undersea Cables From Suspected Russian Threat
Canada Aligns With US, UK and Australia as Europe Prepares Major Digital Border Overhaul
Meghan Markle’s Planned Australia Appearance Sparks Fresh Speculation
Starmer Warns Sustained Effort Needed to Ensure US–Iran Ceasefire Holds
UK to Partner with Shipping Industry to Rebuild Confidence in Strait of Hormuz, Cooper Says
UK Interest Rate Expectations Ease Following US–Iran Ceasefire Agreement
Starmer Signals Major Effort Needed to Fully Reopen Strait of Hormuz During Gulf Visit
UK Fuel Prices Face Ongoing Volatility Amid Global Pressures and Domestic Factors
Kanye West’s Planned Italy Festival Appearance Draws Debate After UK Entry Ban
Smuggling Routes Shift Toward Belgium as Migrant Crossings to UK Evolve
Ceasefire Offers Potential Relief for UK Fuel and Food Prices Amid Ongoing Uncertainty
Iran Conflict Raises Questions Over UK’s Global Influence and Military Preparedness
Senator McConnell Visits Kentucky to Highlight Federal Investment in Local Projects
Kanye West Barred from Entering UK as Legal Grounds Come into Focus
UK Denies Visa to Kanye West After Sponsors Withdraw from Wireless Festival
Trump-Era Forest Service Restructuring Leads to Closure of UK Lab Focused on Kentucky Woodland Health
Foreign Students in the UK Describe Harsh Living Conditions and Financial Pressures
Reform UK Proposes Visa Restrictions on Nations Pursuing Reparations Claims
Public Reaction Divides Over UK Decision to Bar Kanye West
Calls Grow for UK to Review US Base Access Following Concerns Over Escalating Rhetoric
UK Indicates It Will Not Permit Use of Its Bases for Potential US Strikes on Iran’s Energy Infrastructure
UK Prime Minister Defends Decision to Bar Kanye West, Questions Festival Booking
×