Representative for the Sixth District Hon. Myron Walwyn has labelled the Government’s failure to accept the approximately $400 million United Kingdom loan guarantee as a “monumental blunder”.
At the time of his comment, Walwyn was speaking in the House of Assembly during the debate stage of the Government’s motion to approve Schedules of Additional Provisions (SAP).
He said there are far too many issues in the territory that immediately needs addressing, adding that the territory’s budget is insufficient to tackle all the existing issues.
Walwyn accused the Government of not prioritizing certain issues in the territory as he alluded to the recently held Non-Stop Concert where an estimated $250,000 was spent by the Government.
The Opposition legislator also said that the marketing of the territory and its current infrastructure does not reflect what is being advertised on the international market.
He described the act as false advertising.
While the $400 million loan guarantee is no longer available as an offer, the BVI Government still has an opportunity to return to the table to discuss with the UK Government should they require a loan.
This was the sentiment shared by the Governor His Excellency John Rankin during a recent interview with 284 Media.