London Daily

Focus on the big picture.
Tuesday, Nov 11, 2025

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

0:00
0:00
Close
UK and Germany Sound Alarm on Russian-Satellite Threat to Critical Infrastructure
Former Prince Andrew Faces U.S. Congressional Request for Testimony Amid Brexit of Royal Title
BBC Director-General Tim Davie and News CEO Deborah Turness Resign Amid Editing Controversy
Tom Cruise Arrives by Helicopter at UK Scientology Fundraiser Amid Local Protests
Prince Andrew and Sarah Ferguson Face Fresh UK Probes Amid Royal Fallout
Mothers Link Teen Suicides to AI Chatbots in Growing Legal Battle
UK Government to Mirror Denmark’s Tough Immigration Framework in Major Policy Shift
UK Government Turns to Denmark-Style Immigration Reforms to Overhaul Border Rules
UK Chancellor Warned Against Cutting Insulation Funding as Budget Looms
UK Tenant Complaints Hit Record Levels as Rental Sector Faces Mounting Pressure
Apple to Pay Google About One Billion Dollars Annually for Gemini AI to Power Next-Generation Siri
UK Signals Major Shift as Nuclear Arms Race Looms
BBC’s « Celebrity Traitors UK » Finale Breaks Records with 11.1 Million Viewers
UK Spy Case Collapse Highlights Implications for UK-Taiwan Strategic Alignment
On the Road to the Oscars? Meghan Markle to Star in a New Film
A Vote Worth a Trillion Dollars: Elon Musk’s Defining Day
AI Researchers Claim Human-Level General Intelligence Is Already Here
President Donald Trump Challenges Nigeria with Military Options Over Alleged Christian Killings
Nancy Pelosi Finally Announces She Will Not Seek Re-Election, Signalling End of Long Congressional Career
UK Pre-Budget Blues and Rate-Cut Concerns Pile Pressure on Pound
ITV Warns of Nine-Per-Cent Drop in Q4 Advertising Revenue Amid Budget Uncertainty
National Grid Posts Slightly Stronger-Than-Expected Half-Year Profit as Regulatory Investments Drive Growth
UK Business Lobby Urges Reeves to Break Tax Pledges and Build Fiscal Headroom
UK to Launch Consultation on Stablecoin Regulation on November 10
UK Savers Rush to Withdraw Pension Cash Ahead of Budget Amid Tax-Change Fears
Massive Spoilers Emerge from MAFS UK 2025: Couple Swaps, Dating App Leaks and Reunion Bombshells
Kurdish-led Crime Network Operates UK Mini-Marts to Exploit Migrants and Sell Illicit Goods
UK Income Tax Hike Could Trigger £1 Billion Cut to Scotland’s Budget, Warns Finance Secretary
Tommy Robinson Acquitted of Terror-related Charge After Phone PIN Dispute
Boris Johnson Condemns Western Support for Hamas at Jewish Community Conference
HII Welcomes UK’s Westley Group to Strengthen AUKUS Submarine Supply Chain
Tragedy in Serbia: Coach Mladen Žižović Collapses During Match and Dies at 44
Diplo Says He Dated Katy Perry — and Justin Trudeau
Dick Cheney, Former U.S. Vice President, Dies at 84
Trump Calls Title Removal of Andrew ‘Tragic Situation’ Amid Royal Fallout
UK Bonds Rally as Chancellor Reeves Briefs Markets Ahead of November Budget
UK Report Backs Generational Smoking Ban Ahead of Tobacco & Vapes Bill Review
UK’s Domino’s Pizza Group Reports Modest Like-for-Like Sales Growth in Q3
UK Supplies Additional Storm Shadow Missiles to Ukraine as Trump Alleges Russian Underground Nuclear Tests
High-Profile Broodmare Puca Sells for Five Million Dollars at Fasig-Tipton ‘Night of the Stars’
Wilt Chamberlain’s One-of-a-Kind ‘Searcher 1’ Supercar Heads to Auction
Erling Haaland’s Remarkable Run: 13 Premier League Goals in 10 Matches and Eyes on History
UK Labour Peer Warns of Emerging ‘Constituency for Hating Jews’ in Britain
UK Home Secretary Admits Loss of Border Control, Warns Public Trust at Risk
President Trump Expresses Sympathy for UK Royal Family After Title Stripping of Prince Andrew
Former Prince Andrew to Lose His Last Military Title as King Charles Moves to End His Public Role
King Charles Relocates Andrew to Sandringham Estate and Strips Titles Amid Epstein Fallout
Two Arrested After Mass Stabbing on UK Train Leaves Ten Hospitalised
Glamour UK Says ‘Stay Mad Jo x’ After Really Big Rowling Backlash
Former Prince Prince Andrew Faces Possible U.S. Congressional Appearance Over Jeffrey Epstein Inquiry
×