AGP Executive Report
Last update: 2 hours agoFalklands Budget & Housing: The Falkland Islands Government has set out a £216.3m 2026/27 budget under a “living within our means” approach, with a public meeting Monday 8 June where Financial Secretary Pat Clunie will present it; the plan includes a £500 cost-of-living payment for full-time FIG employees from 1 July, a 5.3% rise in the minimum wage to £10.17 from January 2027, and fee/charge increases of 2.7% in line with inflation. Accelerated Housing Scheme: Executive Council has also approved an accelerated housing push in Stanley, including infrastructure for 60 new plots at Murray Heights and 30 modular units, aiming to deliver 30 FIG houses within 12 months, with temporary diversion of resources from Sapper Hill Phase 7. Travel Credit Scheme: FIG has suspended the Travel Credit Scheme, saying it will save £630,000 a year, but the change raises concerns for status holders who rely on credits for future travel support. Oil & Sovereignty Tension: Argentina has warned it could “fully exercise all actions” over the Sea Lion oil development near the Falklands, calling Rockhopper and its partner Navitas “unlawful” and “clandestine” after the project moved into development. Rockhopper Financial Update: Rockhopper reported a sharp 2025 downturn, moving from profit to a $42m pre-tax loss tied to arbitration costs, while still targeting first oil for Sea Lion in 2028.
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