Falklands operating surplus reaches £38 million; strong corporation tax receipts

Saturday, July 28th 2018 - 15:30 UTC

Full article 4 comments

The Falkland Islands Government operating surplus now stands at over £38 million, Standing Finance Committee members were informed this week. The large surplus is due to favorable corporation tax receipts, and was arrived at by deducting operating costs of £68 million from the year’s income, which is £106 million. Read full article

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portman
the 1000%+ overspend on health service locums is quite rightly commented upon. this makes the overspend of 23% on the concordia baby appear trivial and the historic overspend on the public jetty pales into insignificance by comparison. difficult for the treasury to be critical however since receipts from taxation and investments were up by a whopping £32.8m (150%). how it can be taken seriously in its legal duty of budget and fiscal management begs the question. dont do as i do but do as i say is the only option it can take. more importantly why has there been no change in tax rates and allowances? most countries plan to raise just enough income from taxes to balance the budget in order to finance the cost of public services not as a means of increasing the states bank account to the detriment of bank accounts belonging to the taxpayers!
Jul 28th, 2018 - 05:54 pm - Link - Report abuse -2
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falklandlad
Fantastic - Falkland Islands Airways fleet purchases coming up next then! It seems there is a necessity to temper news outbursts in a more channelled format is somewhat overdue.
Jul 29th, 2018 - 03:01 pm - Link - Report abuse 0
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Marti Llazo
A budget surplus? Can't possibly be a part of Argentina, then.
Jul 30th, 2018 - 02:22 pm - Link - Report abuse 0
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Jo Bloggs
Plenty of that surplus will be needed in the next few years for all of the ambitious capital works coming up. What’s the problem with that? I don’t want to pay less tax, we already pay way less than the U.K. and most other European countries.
Aug 02nd, 2018 - 01:44 am - Link - Report abuse +1
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