Connect with us


The Turks and Caicos Budget – The good, the bad and the ugly – Caribbean News Now



Drexwell Seymour is from the Turks and Caicos Islands. He graduated with a Bachelor of Arts degree in Accounting at age 19 and a MBA in Finance at age 20. In 1992 at age 22, he took and passed all four parts of the CPA exam. He is currently part of a credit union exploratory committee and hopes to have credit unions established soon in the TCI. His articles are also posted on his website

By Drexwell Seymour

For the past couple of years, the budget of the Turks and Caicos Islands has been growing at a rate of more than 4 percent. Only one year the budget remained unchanged and that was 2017/18 because of the hurricanes. The biggest increase in the budget was in 2016/17 at a rate of 12 percent. In 2013/14, Budget (B) was 209 million and Actual (A) was 202 million, 2014/15, B was 218 million and A was $246 million. In 2015/16. B was 228 million and A was $264 million. In 2016/17, B was $255 million and A was $263 million. In 2017/18, B was $273 million and Actual was $277 million. In 2018/19, B was $273 and Actual was $277 million. In 2018/19 B was $273 million and A was $309 million and in 2019/20 B is $303 million representing an increase of 11 percent.

The increases in our budget on an annual basis indicate a continuous positive trend in our country. This article will examine the good, the bad and ugly elements of the budget.

The good

Accommodation tax and import duties continue to dominate the budget representing $69,403,664 and $78,485,921 respectively. This is a good indicator that tourism is expected to increase.

The legislation for credit unions was passed in August 2016 and now two and half years later, regulations for credit union are expected to be implemented by June.  Another great initiative is the provision for the trade vocational institute. This is indeed a great milestone and is long overdue.

This budget has provision for the establishment of a ministry of housing and trade. We have such a major housing shortage issue, pricing of housing and an increase in illegal shacks in our country. Hopefully, the ministry will address these issues. Well done on the creation of these ministries.

The government intends to review the procurement ordinance and the cost of living assessment. Should these initiatives become activated, this will be great for all residents.

The bad

Given the changes in the all-inclusive accommodation tax rate, I am not sure the budgeted accommodation tax will be realized.

Work permit continues to be a major revenue earner for the Government projecting $30, 142,059 which is an increase over last year budget and last year actuals. The majority of this is for work permits fees and permanent residence fees. Does this mean more workers are expected to come to TCI? Are the fees increasing? Should we encourage and promote locals living abroad in Bahamas, USA and UK to return home? Perhaps offer some sort of incentives.

Three million was spent to purchase a school building a few days before year-end with the intent to accommodate the vocational institute. That building is not suited for a vocational institute in its current state. Since the Government has already purchased the building, I recommend the government retain the building as a permanent place for the Oseta Jolly Primary School. The Oseta Jolly location in Blue Hills can be used for expansion of the Clement Howell High School since they plan to introduce A-level in the secondary school. I also heard the former Minister of Education recommended that form 3 should be at Clement High High School. I highly recommend that the Government find suited land perhaps next to the Long Bay High School to construct the vocational institute.

If the government is building a complex and has already purchased three buildings on the island of Providenciales, then why Property rentals are increasing in 2019/20 to $5.2 million and remain so in 2020/21. There is a slight decline in 2021/22.

The ugly

NHIB and Hospital charges are the second largest expenditure of the budget in the amount of $54,880,168, with $33,254,427 for NHIB and $21,625,741 for Hospital. This line item is steady over the next three years. Does this imply that the overseas medical treatment costs are not expected to decline? Are there no plans to expand additional services at the Hospital?

The integrity commission made recommendations to changes in the parliamentarians’ allowances since June 2016. These were approved at this budget hearing. I know there are some parliamentarians who have made and are making sacrifices in their career and time to serve in parliament but I think in comparison to the rest of the Caribbean, our parliamentarians are adequately compensated. I don’t see the need to make any changes at this time for any allowances let alone making them retroactively.


I hope this financial year is not like previous years in which projects never materialized and some believe it is due to the absence of project managers. Perhaps the government needs to change the procurement ordinance and outsource project management similar to what was done many years ago.

Source: Source link

Continue Reading


Haïti – Actualité : Zapping…




Haïti – Actualité : Zapping…
20/02/2020 11:21:11

Haïti - Actualité : Zapping...

Incendie de l’orphelinat : Les responsables convoqués au Parquet

Le Substitut du Commissaire du gouvernement, Frantz Louis Juste a annoncé en conférence de presse, que le Parquet est saisi du dossier de l’incendie de l’orphelinat de l’église de la compréhension de la Bible depuis le jour du drame et que les responsables de cet orphelinat sont convoqués au parquet vendredi matin 21 février. Rappelons que le bilan de l’incendie est lourd : 20 morts (18 enfants et 2 adultes) et 28 enfants survivants. Arielle Jeanty, Directrice Générale de l’Institut du Bien-Etre Social et de la Recherche a révélé avoir appris sur CNN, que cet orphelinat disposait d’un budget de 6.6 millions de dollars !

Cap-Haïtien : Sweet Micky divise

L’organisation « Christophiens en Marche » proteste contre la participation de Sweet Micky au défilé carnavalesque du Cap-Haïtien, rappelant que le carnaval capois a toujours été à l’image de la population et que « laisser Sweet Micky participer au défilé ne ferait que souiller l’héritage que Septen, Tropic, Lakol, Kazak, Feeling et tant d’autres formations ont tenu à léguer aux générations suivantes. » Notez que mercredi dans la matinée, le char de Sweet Micky est arrivé au Cap-Haïtien, suscitant curiosité et admiration de la population. Le comité est resté silencieux sur la participation de la formation musicale Sweet Micky au défilé du Carnaval.

Lancement du Fonds BRH pour la recherche :

Mercredi, au centre de convention et de documentation de la Banque de la République d’Haïti (BRH), Jean Baden Dubois le Gouverneur de BRH a lancé le Fonds BRH pour la recherche et le développement (FRD-BRH) destiné à promouvoir et appuyer la recherche scientifique dans diverses disciplines notamment l’économie et la finance. Ce fond sera financé par le secteur privé sans exclure la possibilité d’apport financier de bailleurs internationaux ou d’institutions nationales.

Renforcer l’indépendance du pouvoir judiciaire :

Le représentant du Programme des Nations Unies pour le Développement (PNUD-Haïti) s’est entretenu cette semaine avec le Président et le Secrétariat technique du Conseil Supérieur du Pouvoir Judiciaire (CSPJ) sur les principaux enjeux du secteur judiciaire en Haïti ainsi que sur la collaboration actuelle et future en faveur du renforcement de l’indépendance du pouvoir judiciaire.

Cap-Haïtien : calendrier des activités

Ce jeudi 20 les activités carnavalesques débuteront par le Carnaval des tout-petits. Vendredi 21 aura lieu le Carnaval des étudiants puis suivront les trois jours gras du Carnaval du Cap-Haïtien

COVID-19 Bilan mondial 20 février :

Jeudi 20 février 2020, le nombre de personnes contaminées dans le monde par le Coronavirus COVID-19 (cas confirmés en laboratoire et clinique) s’élève à 75,727 une hausse de 526 (+0.7%%) par rapport à la veille Le nombre de nouveaux cas de contamination au coronavirus en Chine est au plus bas depuis près d’un mois ; 2129 décès (+5.8%) soit 117 de plus que la veille (2,012) ; 16,526 personnes guéries soit 1,503 personnes (-23,4%) de moins par rapport à la veille mais 7.7 fois plus de guérison que de décès contre 7.4 fois la veille.

On recense à ce jour hors de Chine, 1,015 personnes contaminées confirmées dans le monde (+13%) soit 117 cas de plus.

Nombre de décès à l’étranger inchangé (5) : 1 au Philippine, 2 à Hong Kong, 1 au Japon , et 1 en France. (l’Iran a annoncé deux morts en cours de vérification).

HL/ HaïtiLibre

Source: Source link

Continue Reading


Koulibaly To Miss Barcelona? – The Haitian Times




Photo Credit: Football Italia

Kalidou Koulibaly is
still not training regularly with Napoli, so it’s feared he will miss both
games with Brescia and Barcelona.

The Senegal
international has been struggling since a serious thigh strain on December 15,
only returning for one appearance against Lecce on February 9.

He looked very rusty
and was left out of the squad for the trip to Cagliari, as coach Gennaro
Gattuso confirmed the defender still felt pain in his thigh.

According to Sky Sport Italia, Koulibaly did not train today either and is not expected to be in with the group tomorrow.

read more

Haitian Times

Haitian Times

The Haitian Times was founded in 1999 as a weekly English language newspaper based in Brooklyn, NY.The newspaper is widely regarded as the most authoritative voice for Haitian Diaspora.

Haitian Times

Latest posts by Haitian Times (see all)

Source: Source link

Continue Reading

Caribbean & World

Werley Zeus: Haiti And African Countries Should Become One



The 26 years old, Werley Zeus is a musician, author, entrepreneur, and politician from Haiti. He owns a mass media company operating under the name of Ceraphin Corporation that owns different types of businesses including publishing companies and radio stations.

The 26 years old CEO believes that Haiti and African countries should unite together again and become partners because Haiti and African countries belong to black brothers and sisters.

“I think Haiti and African countries should unite together and become partners.”, said Werley Zeus.

Let’s not forget that Ceraphin Corporation’s Werley Zeus launched ‘Woy Africa! Network’ and ‘Afro! PopUp’ in Africa to serve the continent.

According to Werley, the brands named ‘Woy Africa! Network’ is a publishing magazine operating by Ceraphin Network and ‘Afro! PopUp’ is an internet radio station managed by Ceraphin Radio Network. The brands are operating in Africa and Werley thinks it makes for Haitians and Africans to work together because unity is power.

According to reports and studies, Haiti has been abused by the U.S. for years and years, so the time has come for Haiti to cut off every relationship with the U.S. to join Venezuela, Africa, Russia, and others in order to grow and prosper before 2045 arrives.

Werley Zeus hopes to become a leader in the upcoming Haitian Government that the Haitian population will install soon, so the plans will succeed. Hopefully, a new Haitian Government will take power in 2020 so the right leaders can lead Haiti in the right direction.

Continue Reading