Honourable Myron Walwyn, Sixth District Representative, recently voiced scepticism on 2024 budget expectations for VI financial services amidst looming overseas threats. Noting anticipation of a $206 million industry revenue, he warned against complacency.
Referencing underwhelming mid-year fiscal updates on sector performance, Walwyn said he has been left with concerns.
Walwyn further highlighted pending public beneficial ownership registers representing catastrophic risk. While recent rulings from the European Court of Justice offered temporary relief, he stressed that brexit may pose implications for the acceptance and impact of the ruling.
Considering the importance of revenue from the Financial Services Industry, he dubbed any major industry declines as possibly disastrous the economy. He chastised inaction on contingency planning for this vulnerability on part of the government.
