Turks and Caicos price measures

The Turks and Caicos government has introduced a Citizens Empowerment Programme and a number of tax initiatives which it claims will shield citizens from spiralling food prices.



Premier Michael Misick said although import duties constitute the largest revenue for his Progressive National Party government, it has agreed to a waive of import duties on essential food prices among other measures.



Misick said his government will also play its part by cutting back on expenditure, as the country keeps a close eye on the economic downturn in the United States.



The situation has already resulted in a decline in the Turks and Caicos economy, which has moved from double digit growth of 16 to 18 per cent between 2003 and 2006 to about nine per cent in 2007.