Greater Investment into the Improvement and Development Fund
Mr Bossano focused his efforts on the continuation of the policy of greater investment into the Improvement and Development fund. In 1990, the government doubled its expenditure in the fund from £4m to £8.
“The capital spending in the Improvement and Development Fund is drastically increased. Without that we do not think we have an economic base, unless we do that, we will not create in Gibraltar an upgraded productive infrastructure capable of making Gibraltar competitive with other people.”
The Chief Minister predicted a growth in private sector investment which had been somewhat pedestrian up until this point. He explained that it was “virtually non-existent until 1983/84, and then it started shooting up in 1984/85 which is, of course, when people started investing in property in Gibraltar following the opening of the frontier”.