PRESS RELEASE No: 481/2024 Date: 3rd July 2024
THE BUDGET 2024 – THE HON MINISTER FEETHAM’S ADDRESS Madam Speaker, I stand before you today delivering my first budget speech in this Parliament. I will provide an overview of the activities and initiatives I have been delivering since the 12th of October 2023, when I was appointed Minister for Justice, Trade and Industry, a portfolio that includes Financial Services, Gaming, Justice, Postal Services and Taxation. Given my wide ministerial portfolio and the focus by the Leader of the Opposition on the corportate tax measure announced by the Chief Minister yesterday, I propose to deal with all my Ministries as briefly as possible. This will allow me to respond to points raised by the Honourable Leader of the Opposition and to also present the new tax measures we were proposing to announce today. The last 8 months has been a period of review, change and development across all sectors under my responsibility. Broadly, work continues to diversify the financial sectors both geographically and in terms of product offering. It is a priority of our Government to try to dilute the concentration risk where appropriate. I set out below some of the initiatives implemented in connection with the Financial Services Industry. FINANCIAL SERVICES Gibraltar Finance Madam Speaker, I start with Financial Services. It has been a year of significant change for the team at Gibraltar Finance. Last year, we said goodbye to James Tipping, Finance Centre Director and to two of our Senior Executives, namely Michael Ashton and Tim Haynes. A recruitment process followed for the posts of Finance Centre Director and one Senior Executive. No candidate was successful for the Finance Centre Director position, so the Government has decided to leave the position vacant for the foreseeable future.
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