Putin's precise demand for the end of this crisis
Turkey has positioned itself with great care to be the go-between with Russia and Ukraine - and this seems to be paying off.
On Thursday afternoon, President Vladimir Putin rang the Turkish President, Recep Tayyip Erdogan, and told him what Russia's precise demands were for a peace deal with Ukraine.
Within half an hour of the ending of the phone call, I interviewed Mr Erdogan's leading adviser and spokesman, Ibrahim Kalin. Mr Kalin was part of the small group of officials who had listened in on the call.
The Russian demands fall into two categories.
The first four demands are, according to Mr Kalin, not too difficult for Ukraine to meet. Chief among them is an acceptance by Ukraine that it should be neutral and should not apply to join Nato. Ukraine's President Volodymyr Zelensky has already conceded this.
There are other demands in this category which mostly seem to be face-saving elements for the Russian side. Ukraine would have to undergo a disarmament process to ensure it wasn't a threat to Russia. There would have to be protection for the Russian language in Ukraine. And there is something called de-Nazification.
This is deeply offensive to Mr Zelensky, who is himself Jewish and some of whose relatives died in the Holocaust, but the Turkish side believes it will be easy enough for Mr Zelensky to accept. Perhaps it will be enough for Ukraine to condemn all forms of neo-Nazism and promise to clamp down on them.
The second category is where the difficulty will lie, and in his phone call, Mr Putin said that it would need face-to-face negotiations between him and President Zelensky before agreement could be reached on these points. Mr Zelensky has already said he's prepared to meet the Russian president and negotiate with him one-to-one.
Mr Kalin was much less specific about these issues, saying simply that they involved the status of Donbas, in eastern Ukraine, parts of which have already broken away from Ukraine and stressed their Russianness, and the status of Crimea.
Although Mr Kalin didn't go into detail, the assumption is that Russia will demand that the Ukrainian government should give up territory in eastern Ukraine. That will be deeply contentious.
The other assumption is that Russia will demand that Ukraine should formally accept that Crimea, which Russia illegally annexed in 2014, does indeed now belong to Russia. If this is the case, it will be a bitter pill for Ukraine to swallow.
Nevertheless, it is a fait accompli, even though Russia has no legal right to own Crimea and actually signed an international treaty, after the fall of Communism but before Vladimir Putin came to power, accepting that Crimea was part of Ukraine.
Still, President Putin's demands are not as harsh as some people feared and they scarcely seem to be worth all the violence, bloodshed and destruction which Russia has visited on Ukraine.
Given his heavy-handed control over the Russian media, it shouldn't be too hard for him and his acolytes to present all this as a major victory.
For Ukraine, though, there are going to be serious anxieties.
If the fine details of any agreement aren't sorted out with immense care, President Putin or his successors could always use them as an excuse to invade Ukraine again.
A peace deal could take a long time to sort out, even if a ceasefire stops the bloodshed in the meantime. Ukraine has suffered appallingly over the past few weeks, and rebuilding the towns and cities which Russia has damaged and destroyed will take a long time. So will rehousing the millions of refugees who have fled their homes.
What about Vladimir Putin himself? There have been suggestions that he is ill, or possibly even mentally unbalanced. Did Mr Kalin detect anything strange about him in the phone call? Not at all, he said. Mr Putin had apparently been clear and concise in everything he said.
Yet even if he does manage to present an agreement with Ukraine as a glorious victory over neo-Nazism, his position at home must be weakened.
More and more people will realise that he overreached himself badly, and stories of the soldiers who have been killed or captured are already spreading fast.
Source - BBC
Fatal Family Feud
A 28-year-old man has been remanded in custody after appearing in Supreme Court where he admitted stabbing his father, a former football team manager, to death.
The deceased, Amon Brown.
Tyshaun Brown was joined by his family, who were close to tears as he confessed to the manslaughter of his 52-year-old father Amon Brown.
Detective Sergeant Jason Smith said after Wednesday’s hearing: “There are no winners in this case. The family is distraught, understandably, and at least today there is some satisfaction that justice has been served.”
“This is, as you can appreciate, a very emotional time for the family.
There’s a lot of grief and pain. The family is coping and we do wish them well,” he added.
Smith said that the guilty plea to manslaughter was “certainly the right decision to make, given the circumstance”.
He added: “It certainly helps to alleviate some of that frustration and sense of fear among the family, so we’re happy for that decision.”
Brown, a former player and manager of the Boulevard Community Club football team, known as the Blazers, suffered around 25 stab wounds in July 2020 during an incident in Warwick parish.
Puisne Judge Subair Williams, remanding the defendant in custody, said she will announce his sentencing date later.
Source - CMC
TURKS AND CAICOS NOMINATED FOR EIGHT DISTINGUISHED AWARDS
Grand Turk, Turks and Caicos Islands (March 16th, 2022) – The Turks and Caicos Islands Tourist Board, the exclusive tourism authority for the Turks and Caicos Islands, is pleased to announce that the destination has been nominated for eight (8) distinguished World Travel Awards™.
World Travel Awards™, celebrates its 29th anniversary year this year, reward and celebrate excellence across all key sectors of the travel, tourism and hospitality industries. The World Travel Awards™ brand is recognised globally as the ultimate hallmark of industry excellence.
Over the years, the Turks and Caicos have won numerous World Travel Awards and, it is with hope, that the destination will win the awards in the various coveted categories.
The categories are as follows:
1) Caribbean's Leading Beach Destination 2022: Turks & Caicos Islands
2) Caribbean's Leading Cruise Destination 2022: Turks & Caicos Islands
3) Caribbean's Leading Destination 2022: Turks & Caicos Islands
4) Caribbean's Leading Dive Destination 2022: Turks & Caicos Islands
5) Caribbean's Leading Honeymoon Destination 2022: Turks & Caicos Islands
6) Caribbean's Leading Luxury Island Destination 2022: Turks & Caicos Islands
7) Caribbean's Leading Tourist Board 2022: Turks & Caicos Islands Tourist Board
8) Caribbean's Most Romantic Destination 2022: Turks & Caicos Islands
The international voting window for our Caribbean and North America regions opened on Tuesday, 15th March (see link here) and runs until midnight Tuesday, 3rd May. Votes can be cast by travel professionals, media and tourism consumers, with the nominee gaining the most votes in each category announced as the 2022 World Travel Awards™ winner.
Director of Tourism, Miss Pamela Ewing stated that: “to be nominated for not just one, but eight awards is truly momentous! This gives credence to the work that we in the Turks and Caicos have been doing over the past year and will continue to do. It is indeed an honour that we were nominated for so many and I am truly proud of the work the team have put in to market the destination.”
Hon. Josephine Connolly, Minister of Tourism stated that: “To be nominated for such distinguished awards speaks to the world-class, exceptional quality of our tourism product. This is a true testament of our Government, Stakeholders and Turks and Caicos Islanders dedication and commitment to the tourism industry. For this, I thank you! I would encourage everyone to vote for the Turks and Caicos Islands as these accolades are well deserved.”
After the close of voting, the winners of each category in this year's programme will be invited to attend the red carpet World Travel Awards Caribbean & North America Gala Ceremony – the region's premier VIP tourism gathering – which will take place on 14 June 2022 at Sandals Montego Bay, Jamaica.
About the Turks and Caicos Islands
Home to the Best Beach in the World, breathtaking hues from inviting waters, and legendary diving, snorkeling and fishing, the Turks and Caicos Islands beckon you to an undiscovered Caribbean. The Turks and Caicos Islands consist of 40 islands and cays, nine of which are inhabited. World class hotels, spas, and restaurants await; as do our famous stretches of uncrowded beaches and vibrant coral reefs. On land or below the water, you’ll relax in the unique serenity, hospitality and beauty of our islands. For more information call 1-(800) 241-0824 or visit www.turksandcaicostourism.com. Follow the Turks and Caicos Islands on Facebook, Twitter, Instagram and YouTube.
Tom Cruise will be honored at Cannes Film Festival before premiere of Top Gun: Maverick
It was previously reported that Top Gun: Maverick will finally land at the Cannes Film Festival, but now Deadline is reporting the star himself, Tom Cruise, will be the focus of a retrospective about his career before the movie screens.
The event will take place May 18.
The 75th annual Cannes Film Festival runs from May 17 to May 28 in France. Incidentally, Cruise's honor comes 30 years after his first trip to the event, the trade points out, when he was promoting the Ron Howard-directed film Far and Away.
Top Gun: Maverick has been delayed multiple times: The movie, which was initially scheduled to premiere back in 2019, will now fly into theaters on May 27.
The follow-up to the 1986 blockbuster also stars Top Gun veteran Val Kilmer, Oscar winner Jennifer Connelly, Ed Harris, Jon Hamm, Monica Barbero and Miles Teller.
Source - ABC
Delta warns oil increases mean higher ticket prices
Higher oil prices are set to lead to a 10% increase in air fares, according to the boss of one of the world's biggest airlines.
Delta Air Lines head Ed Bastian told the BBC the final impact "really depends where fuel prices settle".
Oil prices have reached 14-year highs after Russia's invasion of Ukraine.
Emirates, Japan Airlines and AirAsia are among the big carriers to introduce surcharges on their tickets recently to cover the higher cost of jet fuel.
Before the pandemic, in 2019, 200 million customers flew on Delta, making it the world's second biggest airline by passenger numbers.
Mr Bastian said that on a domestic US flight the rise in fuel prices "is probably about $25 on a ticket, that could be anywhere between 5% to 10% at these high levels of oil... and international [flights] will be a bit higher than that".
Delta is planning to introduce fuel surcharges on the international flights which account for about 35% of its business, and increase US ticket prices.
Jet fuel is one of the biggest costs for airlines. Michael O'Leary, the boss of Europe's biggest carrier Ryanair, said recently that the surge in oil prices would lead to "materially higher" airfares this summer.
Many airlines try to protect themselves from these changes by buying fuel in advance. Easyjet and British Airways both said recently that they had done so for 60% of their fuel needs this year.
This year has seen big fluctuations. At the start of January, Brent crude - the international benchmark for oil - was under $80 a barrel, but it recently reached as high as almost $130 as the US and UK said they would end their use of oil from the world's biggest exporter, Russia.
More price swings are likely in the short-term according to the executive director of the International Energy Agency, Dr Fatih Birol. He told the BBC: "I think the $100 [oil] we are experiencing today may not be the highest level of prices we'll be seeing in the next weeks".
He warns that will be felt across all areas of the global economy, because as well as higher transport costs it will lead to more expensive heating and electricity. That would exacerbate the cost of living crisis many countries are facing.
Reports from India suggest it is considering tackling high prices at the petrol pumps by buying discounted Russian oil. Many won't purchase it because of western sanctions, and Dr Birol warned: "One shouldn't forget that every single dollar for oil going to [the] Russian economy will go back as a tank or as a bullet to Ukrainian people. One shouldn't forget this moral aspect in my view".
Instead he wants Middle Eastern countries including Saudi Arabia to increase oil production. The latest IEA forecast says three million barrels a day of Russian oil could be removed from the market. However, that drop in supply could be offset by a fall in demand from China where Covid has led to new lockdowns.
All this unpredictability means Delta does not try to buy its fuel in advance, Mr Bastian said. "Sometimes you win, and often you lose."
Instead Delta has the protection of owning its oil refinery in Pennsylvania, although it has been unsuccessful in recent efforts to try to sell it.
"We're thrilled that we have it right now" says Mr Bastian.
The Delta chief is also looking to a future where initiatives to tackle climate change by cutting aviation's carbon emissions mean oil prices are less of a concern.
"The existing fossil fuel and jet fuel technology needs to go, and we need to make those investments for the future towards a sustainable future."
This means moving towards sustainable fuels such as biofuels or synthetic alternatives made through chemical processes.
Mr Bastian says that cost is the big impediment, with the production of such substitutes costing "three to five times what's in the marketplace today".
The difference will need to be made by governments investing in scaling up production. "Scale will bring costs down over time, and will bring more capital from private sources into exploration and looking for new technology. This next five years is critical that to make sure we get government support, not just in the US but around the world."
Returning to profitability after the losses of the pandemic will also help fund the development of new technologies. According to the International Air Transport Association the industry lost more than $51bn last year with global demand 58.4% down on 2019 levels.
As Covid restrictions continue to ease, Delta had two record days of sales last week, leading Mr Bastian to be hopeful about the outlook.
"The world is returning to travel and governments have decided that Covid is done."
"We're seeing some of our largest bookings we've ever had in our history. And it's not just in the US, it's internationally as well." However, he adds that Asia is lagging behind other regions.
Crucially demand for lucrative business class fares is also returning. It is currently at about 60% of pre-pandemic levels, but Mr Bastian expects this to rise to 70% by the summer.
He concedes "there's forms of business travel that will never return, that are more efficient to handle over video technology", but adds that leisure travellers are now showing more willingness to splash out on premium services.
Last year Delta recorded a pre-tax loss of $3.4bn and the disruption caused by coronavirus at the start of this year means Mr Bastian thinks that will be added to at the start of this year.
"We will lose some money primarily because of Omicron, it's not fuel prices. But I do expect starting in the second quarter and beyond that we'll be profitable."
Source - BBC
Meta allowing parents to limit teen's virtual exploration
New tools will allow parents to stop teenagers accessing inappropriate games and experiences via Meta's virtual reality (VR) headset.
Questions have been raised about whether it was doing enough to protect children from inappropriate content.
Meta-owned Instagram has also rolled out further parental controls, the plans for which were revealed last year.
It comes as the UK government legislates to protect children online.
The Quest headset's terms of service say users should be over 13.
"Providing age-appropriate and safe experiences for teens while also empowering them to explore in VR is a balancing act", Oculus, the Meta-owned company that makes the Quest, blogged.
BBC News has previously reported a researcher posing as a teenager was able to access virtual strip clubs in a popular VR app - not made by Meta- using a Quest headset.
Now, Oculus is rolling out tools to allow parents to lock specific apps directly from VR to stop teenagers accessing them, block teenagers from downloading or purchasing age-inappropriate apps in the Quest Store, release a "Parent Dashboard", accessible from the Oculus mobile app, to - if both adult and teenager agree - allow parents to link to their child's account.
Using the dashboard, parents will be able to view all the apps their child owns, be notified when their child makes a purchase in VR, know how much time their child is spending in VR and view their child's list of Oculus Friends.
The new controls in Instagram and VR are part of what Meta calls its "Family Center".
Launching in the US, and then globally in the coming months, these will let parents see how much time their teenager spends on Instagram, set the hours during which their child can use the app and receive updates on what accounts they follow and are followed by.
Initially, teenagers themselves will have to initiate these controls.
Later, parents will be able to do so - with their child's consent.
Source - BBC
Tesla restarts Shanghai plant after two-day COVID halt
Tesla Inc. resumed production at its Shanghai plant Friday after a two-day suspension, people familiar with the matter said, as movement controls imposed on its workers as part of the city's efforts to curb the latest COVID-19 outbreak eased.
The Shanghai factory restarted its two-shift production at 7 a.m. local time to run around the clock, said the people. Enough workers have returned to their positions after being cordoned off in nearby residential compounds for 48 hours where they were required to be tested for COVID-19, according to the people who declined to be identified as they were not authorized to speak with media.
Tesla did not immediately respond to a request for comment.
Reuters reported Wednesday that the U.S. electric vehicle maker had suspended production at its Shanghai factory for two days, according to a notice sent internally and to suppliers, as China tightens measures to curb its largest outbreak in two years. Read full story
Tesla said Thursday it was doing its best to keep production going at its Shanghai factory while it cooperates with China's COVID-19 prevention measures. It did not provide details.
Source - Automotive News
Protester arrested for tying himself to the goalpost
A man has been arrested after Everton's game against Newcastle was delayed by a protester tying himself to a goal post.
The second half of the Premier League fixture at Goodison Park was stopped for about eight minutes on Thursday night due to the incident.
The man, who was wearing a "Just Stop Oil" T-shirt, was led away by police before the game could resume.
Merseyside Police said a 21-year-old man had been arrested on suspicion of pitch encroachment.
A second man, aged 39, was also arrested on suspicion of assault and pitch encroachment.
Alex Iwobi's 99th-minute goal earned Everton a massive victory in their fight against relegation as they held on to beat Newcastle despite being reduced to 10 men.
It led to celebrations at Goodison Park as Everton earned only their second win in 13 Premier League games to put three points between them and the relegation zone.
Source - BBC
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