Jul 04 - “Cautious Budget” Will See Some Government Charges Increased As Gibraltar Prepares For Brexit
Tomorrow’s Budget, which is Fabian Picardo’s fifth as Chief Minister and his first since being re-elected with 68% of the vote last November, will be “cautious” and include increases in some charges as Gibraltar prepares to “rein in spending” following Brexit. Nevertheless, the Budget is also expected to reflect a “very positive economic performance by the economy in the last financial year”.
A Government spokesperson told YGTV: “The Chief Minister will carry out an analysis of the current political situation in the UK and Europe and what this can mean for Gibraltar. He is expected to reassure people about the freedom of movement into and out of Gibraltar.”
Although no specific details of increased charges have been announced, it is expected that these will occur “in areas where these have been stagnant for some time.”
The Chief Minister said: "We cannot bury our heads in the sand and pretend Brexit didn't happen and the Budget will reflect that. At the same time, we have to be ready to attract new business to Gibraltar and to retain the businesses that are already here by continuing to offer the most attractive trading environment possible. This is the most important Budget for a generation.”
The Budget session will be live on www.parliament.gi as from 11am.
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