ELECTIONS will go ahead in 2012 as long as finances are stable and a string of reforms in place, Britain announced on Thursday.

The much touted “milestones” to be reached ahead of a return to self-rule were finally revealed in a statement by UK MPs.

And they include establishing a clear path to Belongership, an overhaul of the civil service and implementing tough new Crown land laws.

London has also agreed to stump up cash to help get the country out of the red and into a fiscal surplus.

But in return, Britain will continue to control the purse strings even after elections in a bid to eventually confine the dollar doldrums to a distant memory.

Overseas Territories Minister Henry Bellingham told the UK Parliament there was a “serious and deteriorating” problem in the Islands.

In a joint written statement with International Development Minister Alan Duncan, he said the country was suffering from an “unacceptable collapse” in finances.

London is now in the final stages of arranging a rescue package.

Governor Gordon Wetherell previously hinted that 2012 was a likely date for general elections after the controversial decision to postpone next year’s poll was announced in September.

But this is the first time British MPs have proffered a timeframe.

Prior to the ballot being scheduled, the revised constitution must also be agreed and new rules put in place governing the electoral process, integrity and accountability in public life and public financial management.

In addition the TCI must be on track to achieve a fiscal surplus in the financial year ending March 2013.

There must also be “significant progress” with the corruption investigations and civil recovery work.

Mr Bellingham said reaching the milestones would require “time, care and hard work” plus the encouragement of the community.

He said the public would be consulted on various issues, a process he hoped local political leaders would take part in.

“The UK Government will have to be satisfied that the necessary reforms have been put in place to address the issues raised by the Commission of Inquiry, to prevent such maladministration being repeated, and to engender the confidence of the international community.”

The MP warned these were the minimum preconditions ahead of a return to elected government.

“The UK Government has helped protect the Turks and Caicos Islands Government finances from complete collapse and intends to provide continuing financial support.

“However it is important that the Islands make good use of this … to address the deep crisis in public finance and to achieve a fiscal surplus.”

He said he hoped the reforms would help embed good governance and zero tolerance for corruption in future TCI administrations.

Mr Bellingham added: “Achieving these milestones will be a great challenge. As we now see things, the UK Government will only be able to set a date for the elections when the milestones have been reached.

“We hope that this will happen in time for elections to take place in 2012.”

The Governor told the Weekly News he believed it was feasible the poll would take place in 2012 but he would not be drawn on how long into the year Islanders may have to wait.

He said the speed would be determined by the level of support among residents for the necessary reforms.

“I reaffirm what Mr Bellingham said; we would like to see elections take place as soon as practicable.

“The UK is a democratic country and it feels most comfortable when the overseas territories also have elected governments.

“But to be able to justify this level of financial support it is important the right conditions are in place.”

Thursday’s announcement was met with differing views from political leaders.

PNP leader Clayton Greene said the return of democracy was “now more uncertain than ever”.

“We have moved from July 2011 to possibly 2012. That is unacceptable and should be rejected.”

He said a firm date of no later than December 2011 needed to be fixed imminently.

“As long as this administration withholds from us our democratic right to self determination there will be no improvement in the lives of ordinary citizens.”

PDM leader Doug Parnell said he welcomed the news that financial help was on the horizon.

“That’s important because we need to put a floor in this recession. There are a lot of unpaid government bills which need to be settled.

“I am also pleased that they are prepared to engage with political leaders; that is something we will respond to,” he added.

By Gemma Handy