The Chief Minister, the Hon Fabian Picardo KC MP, has delivered his annual New Year’s message for 2026, outlining a transformative agenda for the year ahead while reflecting on his personal and political journey across four administrations of Government. In his annual address broadcast on GBC, the Chief Minister confirmed that the negotiation stage for the UK/EU Treaty has finally concluded and described the upcoming phase of ratification and implementation as the "final mile" of his work for the community.

Addressing the findings of the recently published McGrail Inquiry Report the Chief Minister acknowledged that mistakes were made during the challenges of 2020. To ensure progress, the Chief Minister established a strict 100-day deadline for the implementation of all Government-related recommendations from the Report, with two already having been implemented by the Chief Secretary.

Turning to Gibraltar’s long-term economic security, the Chief Minister announced the creation of a Sovereign Wealth Fund in partnership with a major UK institution. This vehicle will invest in long-term UK property assets to generate substantial returns over the next thirty years without requiring upfront funding from the taxpayer. Mr Picardo noted that this fund is designed to bolster "rainy day" reserves and provide hundreds of millions of pounds for future generations of Gibraltarians.

The Chief Minister also emphasised the necessity of economic discipline, stressing that a sustainable approach is required for public services, including housing and healthcare, to protect the vulnerable. Key infrastructure targets for the year include progressing 3000 new homes, developing a new cruise liner terminal, and working to deliver the data centre to further transform the economy.

Concluding the address, the Chief Minister confirmed that 2026 marks the beginning of his last full year in office. He stated his intention to complete his current mandate and secure Gibraltar’s political and economic future before passing the leadership baton to a successor.

The full text of the Chief Minister's address is available here.