Managing Government Finances

The PLP reduced the deficit by 90% before the Pandemic and did not increase the country’s debt ceiling until it had to borrow $200 million to cover for the failed Morgan’s Point deal negotiated by the previous OBA administration. This sound financial management has been recognised by independent ratings agencies.

To continue our sound management of public finances, the PLP will:

  • Focus on broadening the tax base to increase revenue rather than looking to increase taxes on existing taxpayers, which will slow economic recovery.
  • Advance investments within government that make the provision of government services more efficient, which will help to constrain future government spending.
  • Target a return to a balanced budget in three (3) fiscal years when tourism has fully recovered following the Pandemic.