His Excellency the Governor, Peter Beckingham, chaired the meeting of the Cabinet on Thursday 6 November 2014 at the Hilly Ewing Building on Providenciales.
All Ministers were present except the Deputy Premier.
At this meeting Cabinet:
· Reviewed and approved the Invest Turks and Caicos Islands Agency Bill (2014) and the Encouragement of Development Ordinance (Amendment) 2014 for onward submission to the Clerk of the Legislative House of Assembly to be included in the order paper for the next sitting of the House;
· Advised the Governor to approve the introduction of the Companies (Amendment) (No.2) Bill 2014 Non-Profit Organisations (Amendment) Regulations Bill at the next meeting of the House of Assembly;
· Noted the positive financial performance of the Turks and Caicos Islands Government for the second quarter of the financial year 2014-2015 for the period July to September 2014. Year to date results showed an operating surplus of $43.9 million, this result is a positive variance of $27.9 million over the budgeted surplus of $16.0 million and $32.6 million over the last year’s surplus of $11.3 million. Year to date recurrent revenue outturn was $122.4 million, which was $18.4 million or 18% above the budgeted outturn of $93.7 and $28.7 million or 31% above the results of the same quarter last year. Year to date recurrent expenditure outturn totalled $76.8 million, which resulted in a favourable variance of $8.6 million or 10% when compared to budgeted outturn of $85.4 million and $2.8 million or 4% above the results of the same quarter last year. Cabinet also approved the publication of the said financial report as required by Section 46 of the Public Finance Management Ordinance 2012.
· Agreed in principle to the introduction of container scanners at TCI ports, and noted they would consider a range of technologies subject to cost / benefit analysis of proposals;
· Hear a presentation from the Head of the TCI Airports Authority on the Providenciales Airport master plan and its provisions for the medium term growth of the facility. Cabinet noted the importance of ensuring the Airports Authority continued to consider how the needs of the airport will change in the longer term;
· Considered and approved the appointment of Mr. Lloyd Stubbs as a member of the Tourist Board.
