}
the present mainstays of the economy and the local government is making efforts to broaden the base of the economy and thereby lessen dependence on external influences. Two recent major developments, the establishment of ship-to-ship, and ship-to- shore oil transfer facilities, will provide substantial annual royalty payments over the next 30 years. A concerted effort is being made, with some success, to reduce imports by expanding domestic agricultural production and to promote exports by establishing light industries.
UK Aid
The Islands balance their recurrent budget and, in view of their general prosperity, UK aid has been declining and is scheduled to terminate in 1980. Levelopment aid, which has been running at about £300,000 a year has been used primarily on infra- structural projects including airport expansion, development of a comprehensive school and construction of a broadcasting station.