Antiguanewsroom – As countries of interest, the United States and Canada, are changing their travel and immigration policies, Prime Minister Gaston Browne shared that an unsustainable Citizenship by Investment Programme (CIP) could lead to the downsizing of the public sector.
“I do accept that if we lose revenue, it will create some difficulties. And, maybe under those circumstances, we will be forced to maybe downsize,” said Browne.
The change in policies is a result of the growing number of persons gaining citizenship as a result of the Caribbean programme.
The government has made a forecast that CIP revenues in 2019 could stand at $132 million, however, now more than ever there is uncertainty as to the viability of the CIP/CBI industry in the Caribbean in the coming years.
Browne assures that if the CIP revenue remains consistent then it will be used to cover expenditure.
“Provided that those revenues remain viable and consistent, we’re going to utilise them to cover our expenditure,” Browne explained.
Salaries, wages, and debt repayments account for 115 percent of total tax revenues collected, according to the finance minister.