The Falkland Islands Government yesterday published its budget for the upcoming financial year, describing it as a prudent budget that focuses on stability and continuity. The budget forecasts operating expenditure of £78.3m and revenues of £92.2m, as well as a capital programme totalling £53.5m for the upcoming financial year.
The impact of Brexit on the Falkland Islands has been raised in the UK’s House of Lords, with Lib Dem Lord Nigel Jones tabling questions to the Foreign Office. Lord Jones asked the government what assessment they had made of the Falklands’ EU exports, and the impact of World Trade Organization tariffs on Islands fisheries.
The United Kingdom's intention to leave the single market as outlined in Prime Minister Theresa May’s Brexit speech on Tuesday has generated some concerns for the Falkland Islands Government, but a Member of the Legislative Assembly indicated this week they are still confident all will be well for the Islands under post- 2019 arrangements.