Announcement made this afternoon by Minister of Finance Peter Turnquest during his 2018/2019 Budget Communication.
Turnquest said that “the path to correction is extraordinarily hard and excruciatingly painful and out of our control”.
“No more kicking the can down the road to clean up. We understand the redress of our fiscal situation requires real sacrifice. The longer we would have delayed the worse the correction would have been required.
“If we cannot get out debt under control, the amount of interest on that debt will make our ability to supply services to our people impossible.”