HON. E. JAY SAUNDERS MINISTERIAL STATEMENT FOR MARCH 17TH, 2022
Good Afternoon,Mr. Speaker, I would like to start with a verse from Galatians chapter 6, verse 10 that states that:
“So then, while we have opportunity, let us do good to all people…”
Mr. Speaker, this is what our Government has been doing since Day 1 in office, and it gives me great pleasure to be able to speak to the hard work of our good government, specifically through the accomplishments of the Ministry of Finance – in particular the accomplishments over the last couple of weeks.
TAXATION: COUNCIL REVIEWS LIST OF NON-COOPERATIVE COUNTRIES FOR TAX PURPOSES
Mr. Speaker, the EU has a program to address what they deem as “harmful tax practices” by countries. The EU aim is to have countries comply with a set of “objective tax good governance criteria, which include tax transparency, fair taxation and implementation of international standards designed to prevent tax base erosion and profit shifting.” Mr. Speaker, on the 24 February 2022, the European Council ruled on the revised EU list of Non-Cooperative jurisdictions for tax purposes. Countries on the list are described as encouraging “…abusive tax practices, which erode [EU] member states' corporate tax revenues”. What happens when a country is on put on the list of Non-Cooperative jurisdictions Mr. Speaker? Well according to the European Council website, its member states “will act together to put pressure for reform”. Mr. Speaker, as I am sure you’re aware, this is one of those rare times when the bite is greater than the bark. I’ve been told that it’s really not in a country’s best to end up on that list.
Mr. Speaker, the EU list of non-cooperative jurisdictions for tax purposes adopted by the Council on 24 February 2022 includes:
• American Samoa
• Fiji
• Guam
• Palau
• Panama
• Samoa
• Trinidad and Tobago
• US Virgin Islands
• Vanuatu
Mr. Speaker, as the guardian of the financial services sector, I am pleased to say to the people of the Turks & Caicos Islands, especially those who work in financial services, that one country that is not on the list is the Turks & Caicos Islands. Mr. Speaker, jurisdictions that do not yet comply with all the EU international tax standards, but have committed to reform, are included in a state of play document (Annex II). This is the list that the Turks & Caicos Islands is currently on, and I’m happy to say that once a jurisdiction meets all its commitments, it is removed from the annexes, and this is what we’re aiming to achieve.
I want to take this time to congratulate the Ministry of Finance team, particularly Mr. Henry Saunders, Director, Financial Transactions Information Exchange, and his team; and the PS of Finance, Mrs. Athenee Harvey-Basden and her team; who worked very hard to ensure that we met the requirements to be included on Annex II, and who are working very hard for our jurisdiction to be removed from the Annexes altogether.
TCI FINANCE LIMITED
Mr. Speaker, sticking with finance sector, in late January 2018, the then Government undertook a strategic analysis of the TCI’s financial services sector, believing that the TCI has a fair opportunity for growth in this sector. The consultancy was conducted by KPMG Ltd.
Mr. Speaker. KPMG’s report indicated that our financial services sector is in dire straits, and that it is in need of investments and promotion to save it – i.e. if we want it to be a viable contributor to the country’s GDP going forward. Forty-nine (49) recommendations are included in the report, one of which was to develop and implement a marketing strategy for the sector.
Mr. Speaker, I am happy to say that on the 16 February 2022, Cabinet approved the signing of a Memorandum of Understanding between the Government and TCI Finance Limited to implement the aforementioned Marketing and Strategic plan in order to grow our Financial Services industry. Mr. Speaker, our Government is “priming the pump” of our financial service sector, and we’re seeking to aggressively grow our market share.
INVEST TCI MSME GRANT PROGRAMME
Mr. Speaker, turning my attention now to Invest TCI, specifically the MSME Grant Programme. While there are numerous examples of Concession Orders being granted to support start-up businesses, I would like to speak to Our Government, Your Government, the People’s Government’s performance in this area over the current financial year (i.e. 1st April 2021 to current) – comparing it to the last four years, as well as, to the previous Government’s first year in office.
Mr. Speaker, for the four years between FY2017/2018 – FY2020/21, there were an average of 17 Concession orders issued per year, with an average of $455,000 paid out per year. Mr. Speaker, so far over our first full financial year in office, which isn’t even over yet, we have issued 36 Concession orders, which is an increase of 118% over previous years, and we paid out over $694,000, which is an increase of over 50% over the previous years.
Mr. Speaker, in its first year in office, the previous Government issued 12 Concession orders for a total of $360,000. When that is compared with our Government’s first year total of 36 Concession orders and $694,000 in grants, I’m proud to say that we have empowered 200% more entrepreneurs in our first year than the previous Government did, and we gave out almost double the amount of money in grants.
Mr. Speaker, that’s just the start!!! BIG THINGS ARE COMING for our entrepreneurs in years 2, 3, and 4 of this term, as well as in our consecutive terms 2, 3, 4, and more. As long as we’re in Government Mr. Speaker, we will look out for our entrepreneurs.
Mr. Speaker, I am pleased to inform the people of the Turks & Caicos Islands that the Invest TCI’s MSME Programme will be hosting the MSME Roadshow 2022. The purpose of the MSME Roadshow 2022 is to educate the public on the opportunities available to entrepreneurs and small businesses through the MSME Programme. It will highlight the success of the MSME Programme and bring awareness to the small businesses who have benefitted from it. I am encouraging all persons, especially businesspersons and entrepreneurs, to come out and be a part of it.
DEPARTMENT OF TRADE, INDUSTRY, AND FAIR COMPETITION
Mr. Speaker, during March 7-8, 2022, the Department of Trade, Industry, and Fair Competition, in partnership with the Jamaica Promotions Corporation (JAMPRO), hosted a free Virtual Trade Mission (VTM) aimed at connecting buyers, importers, agents, and distributors from the Turks and Caicos Islands with exporters from Jamaica. The main objectives of the VTM included:
1. Enhancing trade cooperation between the TCI and Jamaica;
2. Assisting with the diversification of the TCI’s trade partners;
3. Assisting participating companies to gain market insights, make industry contacts, solidify business strategies, and advance specific projects, with the goal of sourcing/increasing cheaper import alternatives into the TCI;
4. Increasing awareness of export ready Jamaican product offerings to buyers in the TCI;
5. Improving business relationships between buyers and suppliers in the TCI and Jamaica, respectively; and
6. Fostering business transactions by providing a meeting platform for scheduled business interactions.
Mr. Speaker, the VTM featured country and market/sector briefings and one-on-one virtual B2B meetings between pre-screened exporters from Jamaica and potential buyers, importers, agents, and distributors from the Turks and Caicos Islands.
The VTM was open to all companies and umbrella organization groups in the TCI with an interest in sourcing the following products from Jamaica:
• fresh agricultural produce;
• salty and sweet snacks;
• herbs,
• spices and sauces;
• gluten-free flour;
• beverages;
• tinned food;
• beauty and personal care items;
• paper products;
• chemical and cleaning products; and
• building materials.
Mr. Speaker, over the course of the Mission, 20 of our Importers (which came from all across the TCI, including Providenciales, Grand Turk, North Caicos, and South Caicos) met with 36 Jamaican Exporters, with them having 89 B2B meetings. On average, each one of our Importers met with 5 Jamaican Exporters.
Mr. Speaker, achieving food security is important to Our Government, and this initiative by the Department of Trade, Industry, and Fair Competition is a step in that direction. Look for other similar initiatives by this dynamic department.
MINISTRY OF FINANCE
Mr. Speaker, on the 16th February 2022, Cabinet approved amendments to the First Time Home Owner’s Policy, aimed at assisting in promoting homeownership for Turks & Caicos Islands Status Holders and BOTCs, with commencement set for the 1st April 2022.
Mr. Speaker, our Government’s First Time Home Owner’s Policy allows first time property buyers, and persons renovating their homes after 10 years, to receive $50,000 in Stamp Duty and Import Duty concessions.
Now Mr. Speaker, this policy was first rolled out in 2019 by the then Government of the day, and unfortunately, but not surprisingly, it had a low uptake. Specifically, Mr. Speaker, during the period April 2019 to January 2022, the Ministry of Finance received approximately 100 applications, with 80 being approved for concessions totaling $570,000. The breakdown of the concessions awarded are:
• 31 Stamp Duty Waivers for a total of $441,035, and
• 49 Import Duty Waivers for a total of $129,897.
Mr. Speaker, the previous Government had this policy in place for 34 months, and during that time less than 3 persons per month benefitted from it, with the average payout being approximately $17,000.
Mr. Speaker, our enhancements remove many, if not all, of the nuisances and obstacles that made the old policy unattractive. In addition to increasing the concession amount from $20,000 to $50,000, our Government also:
1. Allows concessions to be applied to both Stamp Duty and Import Duties rather than one or the other, and
2. Removed the restrictions limiting concessions to land purchases of $150,000 or less, and land + building purchases of $500,000 or less.
Mr. Speaker, imagine that. The old policy actually had restrictions that limited the concessions to land purchases of $150,000 or less, and land + building purchases of $500,000 or less. Mr. Speaker, as the previous Government crafted and/or signed off on this policy, this is tantamount to them intentionally punishing Turks & Caicos Islanders for wanting to own nice property. Mr. Speaker, the old policy basically said to Turks & Caicos Islanders (particularly Turks & Caicos Islanders) that if they could afford to buy land worth more than $150,000 or land + a building worth more than $500,000, that the Government didn’t think that they deserved the concession.
Mr. Speaker, our Government want Turks & Caicos Islanders to Live Best Lives, and that’s why we took a Red Pen to First Time Home Owner’s Policy. When we got to the restrictions that punished our people for wanting to own nice property, we told the Technocrats to “take it out!!!”. As a matter of fact, Mr. Speaker, I didn’t even wait for them to do it, I took it out myself.
Mr. Speaker, our desire to empower Turks & Caicos Islanders through property ownership didn’t stop at the First Time Home Owner’s Policy. We went further Mr. Speaker. Our Government also increased the Zero-Rated transactions under the Stamp Duty Ordinance from $25,000.00 to $100,000.00 for Turks & Caicos Islanders. Going forward, Turks & Caicos Islanders who purchase property worth $100,000.00 or less will pay zero (0) Stamp Duty. And those who purchase property for greater than that amount on: the islands of Grand Turk, Salt Cay, South Caicos, North Caicos and Middle Caicos, will pay a Stamp duty rate of just 4%, and Providenciales and elsewhere in the Turks and Caicos Islands, just 6%.
Mr. Speaker, with these policies, our Government just made private land as affordable for Turks & Caicos Islanders as private land. Mr. Speaker, we said that we will have people living their best lives, and that’s exactly what we’re doing.
DEPARTMENT OF STATISTICS
Mr. Speaker, to properly help our people, our Government needs to know how many of us are there, how many persons are permanently living in country, where people are living, the ratio between young and old, and other socioeconomic factors, such as education and employment.
Mr. Speaker, the United Nations Statistical Commission recommends that all countries carry out a population and housing census at least every ten years, and as I am sure you are aware, the last Census that was conducted in the Turks and Caicos Islands was in 2012. And since that time, new houses have been constructed, the population has grown, and other changes in the makeup of our islands have taken place. Mr. Speaker it’s now Census time again in the Turks and Caicos Islands. And I am happy to inform you Mr. Speaker, that actual planning for the upcoming 2022 Census has already begun, with kickoff activities scheduled to start soon. The 2022 Census will be the most comprehensive data source on the population and housing conditions in country. It will help our Government better understand the conditions under which the people of these Islands live, as we seek to improve the quality of their lives.
For example, Mr. Speaker, the information obtained from the 2022 Census will be used to:
• determine the location, number and types of schools,
• the demand for housing, water supply, and other amenities that are required to give everyone living in our Beautiful by Nature country a decent standard of living.
Further Mr. Speaker, statistical data from the 2022 Census will help officials determine, for example, how many special education teachers are needed in our schools or forecast the number of students likely to live on each island over the next five to ten years. The 2022 Census will also give information on the number of school dropouts, a situation that contributes to crime and other social problems, thereby allowing our Government to proactively address them.
It is stated Mr. Speaker that "the most important capital a society can have is human capital. Assessing the quantity and quality of this capital at small area, regional, and national levels is an important component of modern government." We are a modern progressive Government Mr. Speaker, and human capital development is one of our flagship priorities. And so, for this, and all of the other reasons previously mentioned Mr. Speaker, I am encouraging everyone to cooperate with the Census Takers – i.e. those persons who will go out into the field to collect the data. The information from the 2022 Census will help our Government to continue to provide a high quality of life for our residents.
STIMULUS UPDATE
Mr. Speaker, on the 27th January 2022, I laid in this Honourable House a Supplementary Budget for FY21/22 of $6.77M, out of which $6.5M was used on a Citizen Inflation Adjustment Stimulus to help our people. I am now pleased to give you, the honorable members of this house, and the listening public an update on the progress of the delivery of that stimulus.
Mr. Speaker, the Citizen Inflation Adjustment Stimulus portal was opened for applications on the 2nd February, and the first cheques were delivered to recipients on the 2nd March. As of 4:30pm on Tuesday, 15th March, the stimulus numbers stood as follows:
• Total number of Applications Received 13,094 (100%),
• Approved Applications 11,481 (88%),
• Duplicate applications 222 (2%),
• Declined Applications 67 (0.5%),
• Applications awaiting further documentation 1,324 (10%).
Mr. Speaker, while I am happy to say that approximately 88% of applicants have already been approved for the Stimulus, which is a phenomenal achievement, it would be remiss of me if I didn’t express my disappointment that 1,324 applications have been deferred pending further documentation. As a number of persons have raised concerns that there are persons (particularly students) who do not have all of the required documents, and as a result, have had their applications deferred, I would like to first point out that deferred is not the same as declined. We have a process that we will use to go through the deferred applications in order to help many of those of applicants to receive a stimulus. So I want those persons to know that we have not forgotten them.
Notwithstanding what I just said Mr. Speaker, I must point out that in order to qualify for the Citizen Inflation Adjustment Stimulus, all each applicant had to do was the following:
1. Submit a completed application form on the Portal,
2. Provide proof of documentation of Turks & Caicos Islands Status Holder (or British Overseas Territory Citizenship), which could be Any of:
a. A Turks & Caicos Islander Status Card; OR
b. A Copy of the Applicant’s TCI birth certificate, along with a copy one or both Parents’ TCI status Card; OR
c. A Copy of the Applicant’s TCI birth certificate, along with a copy of one or both Parents’ birth certificate; OR
d. A copy of the applicant’s TCI birth certificate along with Islander Status Card/Island Status Certificate of one or both of his/her parents; OR
e. A Copy of BOTC passport (if passport is expired the expiration date could be no later than 31st March 2020; OR
f. A Copy of BOTC Certificate.
3. Proof that the Applicant is 18 years or older,
4. Proof that the Applicant lives in the Turks & Caicos Islands, which could include Any of:
a. Active NIB number; OR
b. TCI Voter's Registration number; OR
c. A copy of a utility bill displaying the applicant's name, which was issued in the TCI during the last 12 months.
As you can see Mr. Speaker, the issue that the 1,324 deferred applicants are facing is not due to the process not being well thought out, which it was, but due to the fact that many of those applicants did not take the time out to register for important Government programs and services. I’ve been told many times, and I’ve seen it posted many places that students are being asked to provide utility bills in their names, or that they must have an active NIB number, to qualify for the stimulus, and that it is unfair to them. However, what I don’t hear is that those persons also have the option to provide a TCI Voter's Registration number, but they’re unable to because they have so far opted not to get registered to vote.
Mr. Speaker, I am not sure why some persons choose not to register to vote, or even why they choose not to sign up for TCI Status Card, but whatever the reasons are, I want to encourage them to rethink their position, as persons having the right documentation(s) will makes it easier for government to identify and verify them, and most importantly provide support for them in time of need.
TCIG COST OF LIVING + INFLATION ADJUSTMENT MEASURES
Mr. Speaker, the past two plus years of the COVID pandemic has displaced workforces, disrupted supply chains, and driven up the cost of living right across the globe. Most countries are seeing historic highs in inflation. However, unfortunately, when the world was expecting to see a bit of relief as it turns the corner on COVID-19, the war between Russia and Ukraine is adding to the problem.
As Russia is the world’s third largest oil producer, and Europe’s largest supplier of natural gas, it’s not surprising that the sanctions being imposed on it has caused the price of fuel – i.e. gasoline, diesel, and natural gas – to skyrocket. In early March, the price of a barrel of oil (the standard measure for oil) was above $120, and even though it recently dropped to $100, experts predict that it will increase again.
Mr. Speaker, unfortunately the increase in fuel prices, isn’t limited to the pump, as energy, produced by fuel, is what drives the industrial world, and as a result, the rapid rise in fuel prices is pushing up the costs of products and services across the board. Mr. Speaker, prices on Key Food Items are expected to increase by an average of 2.5%. Due to this Mr. Speaker, Cabinet approved a $15 million Cost of Living and Inflation Adjustment Relief Package consisting of:
1. A 25% reduction in the Additional Tariff on Fuel, thereby reducing it from $0.85 per gallon to $0.64 per gallon – a $0.21 per gallon savings to the consumer. The proposed foregone revenue from this initiative is approximately $2.8 Million.
Mr. Speaker, as this measure will not result in a reduction in electricity bills for consumers, due to the fact that Fortis TCI does not pay any Additional Tariff on Fuel, Cabinet also approved:
2. A reduction in CPF from 7.5% to 5% on all items. The proposed foregone revenue from this initiative is expected to be $12 million.
Mr. Speaker, these measures will be in place for 12 months, and if they needed to be reviewed and/or enhanced our Government is prepared to do so.
Mr. Speaker, our Government cares for our people, and the Ministry of Finance works very hard to ensure that we are achieving that. May God continue to bless you, our People, and Our Beautiful by Nature country.
Good day.
Hon. E. Jay Saunders
Minister of Finance, Investment & Trade
Cabinet re-shuffle in Trinidad and Tobago
Prime Minister Dr. Keith Rowley Wednesday re-shuffled his near two year-old cabinet appointing a new Attorney General and shifting some of his more senior ministers to new portfolios.
A statement from the Office of the Prime Minister said Rowley had informed President Paula-Mae Weekes, to revoke the appointments of Faris Al-Rawi as attorney general, replacing him with Senior Counsel, Reginald Armour.
Armour served as an acting Justice of Appeal in the Eastern Caribbean Supreme Court, an acting High Court Judge of the Supreme Court of Trinidad and Tobago, and is a former member of the Law Reform Commission and the Legal Aid Authority of Trinidad and Tobago, among others.
Source-CMC
Kanye West suspended from Instagram for 24 hours
Instagram has placed Kanye West on a 24-hour suspension for violating the platform’s harassment policy.
The Yeezy founder, 44, has been restricted from posting, commenting and sending DMs, among other actions, for 24 hours, a spokesperson for parent company Meta confirmed to ABC News. They have also deleted posts that contain content that violates their policies on hate speech, bullying and harassment.
The spokesperson adds that repeated violations will result in further action. Representatives for Kanye had no comment to ABC News on the matter.
The 24-hour ban comes after Ye made several controversial posts aimed at his estranged wife, Kim Kardashian, and her boyfriend, Saturday Night Live cast member Pete Davidson. The rapper has been very vocal on social media about his custody negotiations regarding the four children he shares with Kim, claiming he's been prevented from seeing his them. He's also posted about Pete and even dissed him in the "Eazy" song and video.
A recent post about Davidson again referred to the SNL star, saying, "Im really concerned that SKETE will get my kids mom hooked on drugs He’s in rehab every 2 months."
Ye also posted about Daily Show host Trevor Noah and comic D.L. Hughley, who have both publicly commented on the ongoing drama between Ye, Kim and Pete.
What [Kim is] going through is terrifying to watch, and it shines a spotlight on what so many women go through when they choose to leave," Noah said, comparing West's behavior to that of his abusive father, who nearly shot his mother to death. "As a society, we have to ask ourselves questions. Do we wish to stand by and watch a car crash when we thought we saw it coming?"
In response, West posted a now-deleted photo of Noah from Google that described him as a "South African comedian," along with racist lyrics to the song "Kumbaya."
Source-ABC
West Indies vs England score – 2nd day, 2nd Test
Scoreboard on the second day of the second Test between West Indies and England at Kensington Oval here Thursday:
ENGLAND 1st Innings
(overnight 244 for three)
A Lees lbw b Permaul 30
Z Crawley c wkp Da Silva b Seales 0
*J Root lbw b Roach 153
D Lawrence c Brathwaite b Holder 91
B Stokes c Brooks b Brathwaite 120
J Bairstow c Bonner b Joseph 20
+B Foakes st Da Silva b Permaul 33
C Woakes c Seales b Roach 41
M Fisher not out 0
J Leach st Da Silva b Permaul 4
Extras (b5, lb6, w1, nb3) 15
TOTAL (all out, 150.5 overs) 507
Did not bat: Saqib Mahmood
Fall of wickets: 1-4 (Crawley), 2-80 (Lees), 3-244 (Lawrence), 4-373 (Root), 5-410 (Bairstow), 6-424 (Stokes), 7-499 (Foakes), 8-503 (Woakes), 9-507 (Leach)
Bowling: Roach 27-5-68-2, Seales 24-4-55-1 (w1), Joseph 23-1-109-1 (nb2), Permaul 35.5.-1-126-3, Holder 28-4-76-1, Bonner 1-0-3-0, Brathwaite 12-0-59-0.
WEST INDIES 1st Innings
*K Brathwaite not out 28
J Campbell c wkp Foakes b Fisher 4
S Brooks not out 31
Extras (b6, nb2) 8
TOTAL (1 wkt, 27 overs) 71
To bat: N Bonner, J Blackwood, J Holder, +J da Silva, A Joseph, K Roach, V Permaul, J Seales.
Fall of wicket: 1-14 (Campbell)
Bowling: Woakes 5-3-17-0, Fisher 5-0-18-1, Leach 9-4-21-0, Stokes 3-0-3-0 (nb1), Saqib Mahmood 4-2-3-0 (nb1), Lawrence 1-0-3-0.
Position: West Indies trail by 436 runs with nine first innings intact.
Toss: England.
Umpires: Joel Wilson, Nigel Duguid; TV – Gregory Brathwaite.
Government of Belize presents billion dollar budget to Parliament
Prime Minister John Briceno has presented a BDZ$1.2 billion (One Belize dollar=US$0.49 cents) budget to Parliament, announcing the restoration of the restoration of the 2020-2021 wage levels to teachers and public officers as well as expecting to “retire BDZ$86. 4 million in public debt, separate and apart from the right off related to the Super Bond discount buyout.
He told legislators on Tuesday that “Recurring revenues are projected at BDZ$1.2 billion, which is 7.5 per cent over, or BDZ$86 million higher than the forecasted outturn for this fiscal year.
“More tax and none tax revenues are projected to rise. Our capital revenues will remain constant and grants will fall to BDZ$35 million in line with our bilateral agreements. Revenue growth is consistent with the 6.5 per cent overall gross domestic product (GDP) growth forecast of the International Monetary Fund (IMF) for 2022 and the Central Banks slightly more modest six per cent forecast.”
Briceno said on the expenditure’s side, overall spending will rise compared to this year’s projected outturn by BDZ$140 million or 12 per cent.
He said these increases include wage and pensions rising by 10 per cent or BDZ$40 million and that most of this attributed to the 10 per cent wage restoration which is to commence on July 1.
He said subsidies and transfers will rise by BDZ$37 million or 25 per cent, which is mostly in direct wage subsidies linked to the wage restoration. Briceno said debt service will rise by BDZ$24 million as we commence interest payments on the Blue Bonds. Capital spending will rise by BDZ# 30 million compared to this year’s outturn of BDZ$243 million.
“ In summary therefore, the new budget targets a primary surplus of some BDZ$14 million, or 0.35 per cent of GDP along with an overall deficit of BDZ$98 million or 2.49 per cent of GDP. Government proposes to retire BDZ$97.4 million in public debt during this year’s budget cycle. Total financing required for this budget will be BDZ$195.6 million,” Briceno said.
Briceno said that the projected performance for fiscal year 2021-2022 is nothing short of spectacular, in terms of the overall budget outlook.
“Based on revenue and spending performance, government’s total borrowing for this budget is now projected at aBDZ$112.1 million, which is BDZ$211 million less that the BDZ$323.8 million approved by the National Assembly”.
Briceno said that his administration intends to “resolve once and for all the Super Bond quagmire” adding that since October last year Parliament endorsed the Blue Bond for Conservation initiative.
“Belize has been the toast of the sustainable finance universe, herald for the innovation and boldness of a transaction that achieved three simultaneous objectives. First, reduction of our public indebtedness by over half a billion dollars, second a renewed commitment to marine conservation, including protecting 30 per cent of our ocean space, and third, establishing the marine conservation trust fund, which will value roughly about BDZ$200 million by 2040.”
Briceno said that according to the IMF’s most recent assessment, issued on February 24 this year, Belize’s public debt fell from 133 per cent of GDP at the close of 2020, to 128 per cent at the close of 2021, “down by a massive 25 per cent of GDP”.
Prime Minister Briceño said the budget will touch lives in a positive way, telling legislators that outside of the academic figures, which must be recited for consistency, there are a number of examples where the fiscal package will be beneficial to the population.
“One, it employs 15, 000 public officers and teachers, who collectively provide 35, 1 million work hours for public service during the budget work period. Two, the budget underwrites national sovereignty and citizen security, through the roles of the Belize Defense Force, the Belize Police Department and the Coast Guard. Three, the budget funds the judiciary, thereby providing the mechanisms for law and order of our country.
“Four, the budget pays for 181 government schools, contributes to another 381 grant aided schools, supports some level of direct support scholarship funding for 4,000 students at the tertiary level, and effectively bank rolls the national education system from kinder to UB (University of Belize) for hundred and two thousand six hundred and seventy one students.
“This budget will provide an additional 200 million for youth and sporting programmes. Five, our national referral hospital, regional hospitals and clinical, and the entire public health system is subsidized by this budget. Six, the budget funds the national infrastructure system, maintaining five hundred and twenty seven miles of paved roads, two thousand two hundred and ninety four miles of gravel surface roads, three hundred bridges, not to mention the entirety of new infrastructure projects.”
But Opposition Leader, Moses “Shyne” Barrow, has said he is not impressed with the fiscal package, telling reporters “I understand for a multi-millionaire like the Prime Minister and many of the wealthy minister that sits on the government’s side, the high cost of living, high cost of fuel, doesn’t impact them one bit and they can boast about growth.
“But, growing from COVID-19 economy doesn’t necessarily say much, because when you are coming from minus hundred, saying that you are one is not much. If you can say in contrast to our best performing economic years, that we are here, then I could consider that. But, people are really suffering.
“People are doing badly and we need to find a way to get the resources that are necessary to deal with the invasion of Ukraine, the illegal invasion by Russians to Ukraine, and bring relief to the Belizean people,” Barrow added.
However, Prime Minister Briceno responded by saying “I always remember what Mr. Price, the Father of the Nation, use to tell me, when your opponents start to praise you, sit back and think what stupid thing you have done. So, I do expect the Leader of the Opposition to criticize. Of course, let us leave it at that.
“The point is this, by any metrics Belize has moved forward. We have moved this country considerably, better than anybody expected,” Briceno added.
Source-CMC
Police are hunting a masked gunman targeting homeless people while they sleep
A masked gunman has struck five times in nine days - shooting homeless people as they slept on the streets of New York and Washington DC.
Police say the "modus operandi" is the same in each case and the mayors of the two cities fear a "cold-blooded killer" is on the loose.
Two of the people died. One's tent was set on fire, after he was stabbed and shot.
A reward is now being offered to catch the killer.
DC's Metropolitan Police Department said one man was shot on 3 March and another on 8 March - both in the middle of the night.
They were injured but survived.
Just a day later, emergency services responded to a tent fire in the city where they found a man inside who had been fatally shot and stabbed.
In New York, a masked suspect first shot a man sleeping on a street in Manhattan's Soho neighbourhood in the early hours of the morning.
Deputy Chief Hank Sautner of the New York Police Department said at a news conference: "The victim, who was shot in the arm, woke up and shouted 'what are you doing?' and the suspect fled."
Around one hour later, according to police, that same person shot and killed another man also sleeping in Soho.
"We now have a cold-blooded killer on the loose," DC Mayor Muriel Bowser and New York City Mayor Eric Adams said in a joint statement.
Mayor Adams said watching CCTV footage of the fatal shooting in Manhattan was "chilling".
"The case is a clear and horrific intentional act of taking the life of someone, it appears, because he was homeless," he added.
Police in DC are offering a $25,000 (£19,100) reward for information leading to the gunman's arrest and police in New York are offering a $10,000 (£7,650) reward.
The federal Bureau of Alcohol, Tobacco, Firearms and Explosives has also joined the investigation.
New York police are further investigating the death of another homeless man Manhattan on Sunday night. The cause has not been determined and it is not yet clear if the case is linked to the other string of shootings.
Source - BBC
Woman commits suicide at police station
A 49-year-old woman Monday committed suicide at the Brickdam Police Station in Georgetown following a domestic dispute.
Police said that Trudy DeHaarte, an Animal Inspector with the Guyana Society for the Prevention of Cruelty to Animals, had earlier been in a confrontation with her husband, a taxi driver, and her son.
In a statement, the police said that DeHaarte, had taken an object which was wrapped in a yellow cloth and hit her husband’s motorcar. The man then drove to the Brickdam Police Station to make a report and DeHaarte followed him.
Upon her arrival at the station, the woman is reported to have told her husband “this is what you want” before shooting herself. She was pronounced dead at the scene by Government Medical Officer Dr Narine.
“The woman, up to the time of her death, was receiving treatment at the Georgetown Public Hospital Psychiatric clinic,” the police said.
Police said the weapon used by the victim was a stun gun, which she had in her possession and used during her job as an animal inspector.
Home Affairs Minister, Robeson Benn, who visited the scene, said it was a very unfortunate situation that will be fully investigated by the police.
Source - CMC
"For this child I prayed": gospel singer Tasha Cobbs welcomes baby boy via adoption
In an exclusive spread for People, Tasha Cobbs-Leonard opened up about her adoption journey and life with new son, Asher.
The 40-year-old gospel singer introduced Asher to the world in an Instagram post two days ago that included pictures from recent family photo shoot. "…Because of You I have found a love that cannot be explained," the singer said. "You are our gift! You are the manifestation of God’s Kindness, Favor and Mercy towards us!"
In the People article, Cobbs shares personal details about her difficult journey to parenthood, including the struggle she and producer-husband Kenneth endured with infertility and in vitro fertilization.
"We were trying to kind of figure out which ways would make it work and throughout going throughout it, all of those ways ended up not working for us. And our faith was tested," Kenneth told People. "One of the things that I'm really happy for is that at the end of that process, our hearts were still open to God doing this, how he chose to do it."
Asher became the sixth member of the Leonard family, which include three of Kenneth's children from a previous marriage. The couple told People the siblings "are so in love with their baby brother."
The Grammy-winning artist says she is sharing her story with hopes it'll encourage people who may endure the same pregnancy struggle to "keep the faith."
Source - ABC
UK computer chip designer Arm Holdings has said it plans to cut up to 15% of its workforce
The redundancies have emerged just a month after the collapse of the firm's $40bn sale to US chipmaker Nvidia.
If the proposals go ahead most job losses would be in the UK and the US, the Cambridge-based company said.
Arm's chip designs are licensed to brands including Apple and Samsung and are used in most smart phones and other products around the world.
Arm employs close to 6,400 people worldwide. The company said in a statement: "Like any business, Arm is continually reviewing its business plan to ensure the company has the right balance between opportunities and cost discipline.
"Unfortunately, this process includes proposed redundancies across Arm's global workforce."
Millions of technology products rely on computer chips but there are not enough currently being produced to meet demand.
As sales of devices soared during the pandemic, stocks of chips plunged which has left manufacturers struggling to keep up with demand.
Arm's owner Softbank - the Japanese conglomerate which bought the UK company in 2016 for $32bn - had planned to sell the firm to Nvidia for $40bn.
However, last month SoftBank shelved the sale citing regulatory hurdles and said it would instead seek to list the company.
In the blow to the UK, Softbank said its would list Arm on the Nasdaq stock exchange in the US.
Source - BBC
Ukraine now using facial recognition tool to detect russian infiltrators
A system that searches a database of billions of facial images could help Ukraine uncover Russian infiltrators, fight misinformation and identify the dead, a company has said.
Facial recognition firm Clearview AI has offered its services to Ukraine's government.
The company says it has a searchable database of 10 billion faces sourced from the web.
But the technology has previously attracted fines from data regulators.
"I'm pleased to confirm that Clearview AI has provided its groundbreaking facial recognition technology to Ukrainian officials for their use during the crisis they are facing," chief executive Hoan Ton-That told the BBC in a statement.
Clearview AI offered its services for free in a letter to Ukraine's government, first reported by Reuters, which the BBC has seen.
It says that a large portion of its database of faces is drawn is from Russian social media sites.
The letter claims that the company has more than two billion images from the Vkontakte (VK), a social network sometimes dubbed the "Facebook of Russia".
The breadth of its Russian coverage makes it more comprehensive than a publicly available rival technology PimEyes, which has previously been used to identify people in war photos, a Clearview AI adviser said.
In the letter, Mr Ton-That identifies a number of potential scenarios in which the technology could be useful including, identifying infiltrators by matching a photo of them or their ID card, identifying the dead without the need for fingerprints, fighting misinformation or
family reunification by identifying people without paperwork.
Mr Ton-That said that Ukraine began using the technology on Saturday.
The country's defence ministry has not yet responded to a BBC request for comment.
Clearview AI's technology has been criticised by privacy watchdogs.
In November the UK's data privacy regulator, the Information Commissioners Office (ICO) issued the company with a provisional £17m fine.
It was also fined 20m euros (£16.8m) by Italian regulators recently, after finding it applied "what amounted to biometric monitoring techniques" to individuals in the country.
And while its technology is used by US law enforcement, the company is facing lawsuits in America over its use of images gathered from the internet.
At least one critic said there was a risk facial recognition could misidentify people at checkpoints.
Albert Fox Cahn, executive director of the Surveillance Technology Oversight Project in New York, told Reuters it was possible "we're going to see well-intentioned technology backfiring and harming the very people it's supposed to help".
Mr Ton-That added that Clearview AI should never be used as the sole source of identification.
Source - BBC