Fifty percent of government’s revenue which came from tourism has disappeared because of the COVID-19 crisis and it has been forced to streamline its expenditure in order to make up for the massive shortfall. According to Financial Secretary Joseph Waight, even with a rebound in tourism in the months ahead the revenue stream will not reach pre-COVID-19 levels.

On the Phone: Joseph Waight, Financial Secretary

“There has been an almost fifty percent reduction in revenue, some of it is due to the shutdown as well and the slowdown of economic activity. Hopefully there will be a little bit of a rebound there but not back to the levels pre-COVID-19. So what the government is doing is trying to tighten its belt as much as possible. We certainly can‘t increase taxes any, but there is more to be done because we have to right the imbalance. If you are taking in less then you have to spend less, you know. We‘re trying but it is going to take some time.”

Channel 5