MORE than $10,000 a day of public funds is splurged on funding Premier Michael Misick’s “extravagant” lifestyle, figures show.

Costs incurred by the Premier for personal staff, travel and individual allowances topped a colossal $4m last year, according to budget calculations.

Last week’s announcement that the Premier’s office had generated an $11m overspend – almost a third of the overall $36m budget deficit – sent Islanders reeling.

Now Mr Misick’s alleged lavish living has come under fire once again.

His swimming pool water bill alone amounted to $221,446.00 over a 12-month period while wages for house staff came to $764,041.00.

This is in addition to his $150,000 annual salary, a housing allowance of $120,000, a personal allowance of $68,500 and a whopping $1.5m on chartering private planes.

The Premier’s spending has increased three fold since he took up the position in 2003.

Meanwhile, two controversial taxes revealed in last week’s budget look set to be scrapped after the Government announced a dramatic U turn.

The announcement that a string of new levies was being introduced to cover the deficit sparked uproar.

They include dramatic hikes in business licence and wire transfer fees along with increases in accommodation and airport departure taxes.

The $10 jump in departure fees, coming into effect on July 1, will still stand but an additional $55 per trip to cover the redevelopment of Providenciales Airport is being reassessed.

The proposed hike in accommodation tax from 10 per cent to 15 per cent is also being deferred.

A statement from the Premier’s office said the public would be informed of the new airport departure fees following consultation with industry bosses.

It added that the revisions would have “implications” on this year’s spending and may see several planned expenditure programmes deferred.

Finance Minister Floyd Hall told the Weekly News the Government had decided it would not be in the country’s best interests to implement the two additional taxes.

“We are looking at ways to accomplish our objectives with the airport without having to raise taxes to the levels previously proposed.

“Departure taxes will rise by $10 but the airport redevelopment fee will be reassessed, partly because we thought it was too much to add to one ticket.

“We are also looking at various ways to scale back expenditure.”

Mr Hall said he could not comment on costs incurred by the Premier.

Doug Parnell, the Opposition Party’s appointed member in the House of Assembly, said the current budget deficit had reached a record high.

“The Government is proposing the biggest tax increases in the country’s history to cover the largestever budget deficit.

“The new fees suggested are highly unreasonable.

“People want to see the Government cut out reckless spending such as $10,000 a day being spent on the Premier’s extravagant lifestyle.”

Solutions to the debt put forward by the PDM include a minimum 33 per cent tax on casino revenue.

Mr Parnell added: “The Government also needs to renegotiate cruise passenger tax which is just $3 per person; it should be raised to about $20.

“They should eliminate cargo duties on imports which would stimulate imports and increase customs duties, scale down the Music Festival and cut the budget for the TCI New Media Network by $500,000.”

Tax hikes set to go ahead include a new minimum business licence fee of $500 per year – more than three times the amount currently paid by many companies.

The move has been blasted by the Providenciales Chamber of Commerce which said it could put some small firms out of business.

The new 50 per cent tax on wire transfer fees will hit people making overseas cash transfers.

A $100 fee will now cost $150 whether wiring money in or out of the Islands.

There will also be a new customs service charge.

Mr Hall spoke of a “culture of over-expenditure” in Government departments during last week’s budget speech.

He announced stringentmeasures for those which spend more than their allocated sum in the future.

Another reason for the deficit was a failure to meet revenue projections in a number of areas such as stamp duty and the Financial Services Commission.

By Gemma Handy