Deputy Premier & Min of Finance Lays Estimates in the House for Jan 27th, 2022
Hon. Speaker,
Hon. Premier,
Hon. Members of this House of Assembly, Strangers in the Gallery, Persons tuning in via radio and streaming media, and my fellow Turks and Caicos Islanders.
Good Morning,
Before I get started Mr. Speaker, since the last time we were in this honorable house, a number of persons have lost loved ones – a few of them due to the Corona Virus. I would like to take the time now Mr. Speaker, to give my condolences to everyone who has recently lost a loved one. I feel your pain, and may you find peace at all times in the name of the Lord, and may the souls of the dearly departed Rest in Peace, and Rise in Glory.
Mr. Speaker, as this is the first time we’re meeting for 2022, I want to also take this time, for the last time, to wish everyone a happy happy New Year!
Mr. Speaker, I rise today to table the 2nd Supplementary Revised Estimates of Expenditure for Financial Year 2021/2022.
MINISTRY OF FINANCE, INVESTMENT & TRADE
Mr. Speaker, in Proverbs Chapter 3, Verse 27, King Solomon – the wise King – stated: “Do not withhold good from those to whom it is due, when it is in your power to act.”
Mr. Speaker, I am standing here right now, on behalf of Our Government, Your Government, the People’s Government, for that very reason. For clarity, our Government is here to do good for those to whom it is due, which is each and every one of you.
Mr. Speaker, before I outline how we intend to do good for those to whom it is due, let me first say that these Revised Estimates of $346.4 million is cost-neutral on the supplementary estimates approved on 26th October 2021.
With that Mr. Speaker, I am going to now outline, how we intend to do good for those to whom it is due. Included in this 2nd Supplementary Estimates for Financial Year 2021/22 is a variation of $6.77 Million, of which 96% - i.e. $6.5M – will be used to specifically do good for those to whom it is due, or in the technical jargon of the Ministry of Finance, “to address urgent/critical and unforeseen priorities that have developed since the approval of the 1st supplementary estimates.”
MINISTRY OF FINANCE, INVESTMENT & TRADE
In these Estimates we’re proposing to allocate $69,000 (sixty-nine thousand dollars), to address outstanding allowances to current and former members of the House of Assembly. As you are aware Mr. Speaker, these allowances were recommended by the local branch of the Commonwealth Parliamentary Association at its last meeting, and these allocated funds will allow those allowances to be paid.
We are also proposing in these Estimates to allocate $150,000 (one hundred and fifty thousand dollars), to facilitate consultancy in Public-Private Partnerships (PPPs) to help manage the legal and regulatory framework. Mr. Speaker, Public-Private Partnerships is one of the favorite ways in which governments in both developed and developing countries build critical infrastructure. Global support for PPPs is currently stronger than it’s ever before. These funds will be used to equip TCIG to better manage these types of partnerships. Our beautiful by nature country has a number of critical infrastructures that needs upgrading, and Public-Private Partnerships is one way that we are looking at to achieve the best value for the people of the Turks & Caicos Islands.
MINISTRY OF FINANCE, INVESTMENT & TRADE
Mr. Speaker, I would now like to touch on the matter of crime for a few minutes. According to the Commissioner of Police, Trevor Botting, from April 2021 to December 2021:
• there were 1,235 crimes, an increase of 24 crimes (2%) compared to the same period in 2020.
• there were 184 serious crimes, a reduction in 63 crimes (25%) compared to the same period the year before.
Notwithstanding the 25% reduction in serious crimes, Commissioner Botting stated that “Whilst positive, we of course remain concerned about the increase in aggravated burglaries and firearms offences...” Mr. Speaker, these sentiments are shared by our Government, your Government, the People’s Government, and that’s why we’re allocating $50,000 (fifty thousand dollars) in these estimates towards Enhanced Policing Initiatives. These funds will be used on specific initiatives to further reduce the incidents of serious crimes.
Mr. Speaker, earlier I said that $6.5M (96%) will be used to specifically do good for those to whom it is due, so let me speak to that now in detail.
MINISTRY OF FINANCE, INVESTMENT & TRADE
Mr. Speaker, the Organization for Economic Cooperation and Development (OECD) estimates that the inflation rate in thirty-eight (38) member states, of which TCI is a member, would have reached 5.21% by the end of 2021. The inflation rate in the United States, of which TCI is highly dependent, is estimated to have hit a 30-year end high of 6.2%, as of November 2021. In addition, Mr. Speaker, the Corona Virus pandemic has practically crippled the global supply chain, which is having a significant negative impact on global inflation rates.
So, Mr. Speaker, this good, good Government of the people, is allocating $6.5M to allow our people to benefit from another stimulus. This stimulus is being used to provide economic assistance to the people of the Turks & Caicos Islands that continue to experience adverse effects due to the economic hardships caused by the Corona Virus pandemic, particularly the on-going increase in inflation.
In keeping with our desire to do good for those to whom it is due, this good, good Government of the people, is proposing to give $500.00 to all eligible Turks & Caicos Islands Status Holders, and British Overseas Territory Citizens – i.e. those who are living in the Turks & Caicos Islands. Persons must be 18 years or older to qualify.
MINISTRY OF FINANCE, INVESTMENT & TRADE
Details of when the portal will be opened to accept applications will be sent out to the public by my ministry – i.e. the Ministry of Finance, Investment & Trade – and I have been assured that if this Bill passes in this Honorable house today, that all qualified applicants will receive their payments by the latest 11th March 2022. In addition Mr. Speaker, qualified applicants who are disabled, or confined to their home (in Turks & Caicos Islands), the Treasury will be provide a cheque delivery service to them.
Mr. Speaker, the Government will fund the additional expenditure through:
• a reduction in the Contingency Fund - $2.0m.
• a reduction in the allocation for property acquisition - $3.5m
• Reduction in the allocation for works programme -$1.069m;
• Reduction in the allocation for Development Finance $200k.
MINISTRY OF FINANCE, INVESTMENT & TRADE
Update on the Fiscal Performance of the Islands
Mr. Speaker, with your permission, I would like to take a few seconds to update the nation on the unaudited fiscal position of the country as at 31st December 2021.
• Recurrent and Non-Recurrent receipts totaled $282.1 million, and government expenditure excluding capital expenditure totaled $206.7 million.
• Net Operating balance totaled $75.4 million, resulting in Cash and Cash Equivalents increasing to $188.4 million at the end of December 2021.
• These figures represent a total net cash flow increase of $66.7 million over the first nine months of the financial year.
• The results to date also reflect Development Fund Expenditure of $17.3 million, debt servicing of $0.6 million, bond inflows of $0.9 million, and net receipts of $8.2 million.
Mr. Speaker, from all indications, the robust revenue performance will continue to the end of the financial year, and the forecast is to meet or exceed revised revenue targets approved in 26th October 2021 supplementary.
MINISTRY OF FINANCE, INVESTMENT & TRADE
With that Mr. Speaker, I beg leave to lay on the Table of this Honourable House in accordance with Standing Order 32, and section 115 and 116 of the Turks and Caicos Islands, Constitution Order 2011 the Government of the Turks and Caicos Islands 2nd Supplementary Revised Estimates of Expenditure for Financial Year 2021/2022.
Mr. Speaker, I move that the 2nd Supplementary Revised Estimates of Expenditure for Financial Year 2021/2022 be referred to the Appropriations Committee to be dealt with in accordance with Standing Order 115.
Thank you.
Hon. E. Jay Saunders
Minister of Finance, Investment & Trade
Janet Jackson shuts down rumors she secretly welcomed a child
Janet Jackson has personally weighed in on the rumors that she and ex-husband James DeBarge secretly welcomed a child during their brief marriage. The two were married between 1984 and 1985, but the rumors persisted that they had a child and had it raised by other members of the Jackson family.
People obtained an advance copy of the upcoming Janet documentary, which sees the hitmaker addressing the nearly 40-year-old rumor.
"Back in the day they were saying that I had a child and I kept it secret... I could never keep a child away from James. How could I keep a child from their father? I could never do that, that's not right," she said, according to People.
The Grammy winner has an idea what sparked the rumors, saying she was put on birth control at the time she was recording Fame and that caused her to gain weight. Apparently, the paparazzi took it as a sign that she was expecting.
Janet also opened up about why she and James went their separate ways, saying she was unable to overlook his drug addiction. She said she would search for him on the streets and, if she found any drugs in the house, she flushed them down the toilet, adding, "We would be rolling on the floor fighting for them. And that's not a life for anyone," according to People.
"I cared so much for him, and I saw the good in him as well and I just wanted that to take precedence as opposed to this ugliness," she added. "'Cause I knew that he needed help. But I wasn't the help that he needed."
The two-night Janet event premieres this Friday at 8 p.m. ET on both Lifetime and A&E.
Source-ABC
Russia maybe 'not serious' about diplomacy on Ukraine but ball in its court: Blinken
Secretary of State Antony Blinken, speaking at the State Department on Wednesday, confirmed the U.S. had delivered a written response to Moscow security demands as Russia amassed troops on its borders with Ukraine. Russia had said it would not continue talks until Moscow had the responses in hand, and Blinken announced after meeting in Geneva last week with Russian Foreign Minister Sergei Lavrov that the U.S. would oblige, which some argued might be seen as a U.S. concession.
But Blinken denied that, saying the U.S. did not change its positions in the paper, but "reiterated what we said publicly for many weeks and, in a sense, for many, many years." Blinken and Lavrov will speak in the coming days once Russia has reviewed the U.S. response.
While there are fears that Russia is using the diplomatic exchange as pretext to attack Ukraine, saying diplomacy failed to address their concerns, Blinken said the U.S. would not be the one to end talks, even as it prepares sanctions and readies NATO deployments.
Source-ABC
No new Haitian President on February 7, 2022
Prime Minister Ariel Henry promising to do “everything in my power” to bring to justice those responsible for the assassination of President Jovenel Moise in July last year, has also indicated “there will not be a new president on February 7”.
Henry met on Tuesday evening with eight of the 10 senators at the invitation of the Bureau of the Senate to discuss the current situation and the priorities, such as the restoration of security and the organization of elections in the French-speaking Caribbean Community (CARICOM) country.
“We are at a crossroads where we must continue to work together to pacify the country. At the same time, the security forces are working to fight against banditry,” Henry said.
Source-CMC
Rihanna's Clara Lionel Foundation donates $15 million to climate justice organizations
Rihanna is donating $15 million to organizations working to find solutions to climate disasters in communities of color.
The nine-time Grammy winner announced Tuesday that her Clara Lionel Foundation is making donations to 18 climate justice organizations working in seven Caribbean nations and the United States. They include the Movement for Black Lives, the Climate Justice Alliance, and the Caribbean Climate Justice Project.
“Climate disasters, which are growing in frequency and intensity, do not impact all communities equally, with communities of color and island nations facing the brunt of climate change,” reads a statement from the foundation. “Funders must build partnerships with grassroots organizations, acknowledging their deep understanding of what is necessary to achieve climate justice in their own communities.”
The grants, made in partnership with Twitter co-founder Jack Dorsey’s #StartSmall philanthropic initiative, are focused on groups with female, LGBT, and Black and Indigenous leaders because their communities are at the greatest risk.
In August, the foundation also donated $500,000 in emergency response funding for the earthquake in Haiti which left over 2,000 people dead, thousands injured, and hundreds missing.
Source-ABC
Powell hundred hands Windies series lead
Rovman Powell’s imperious hundred sank England here Wednesday, inspiring West Indies to a 20-run win in the third Twenty20 International and a pivotal 2-1 lead in the five-match series.
In a blockbuster of a contest on a belter of a pitch at Kensington Oval, the right-handed Powell lashed 107 off 53 balls – his maiden T20I hundred – as West Indies piled up 224 for five off 30 overs, their highest-ever total against England, third highest total overall and highest in seven years.
Left-hander Nicholas Pooran smashed 70 off 43 deliveries, combining with Powell to post an exhilarating 122 in a new West Indies record for the third wicket.
Confronted with the challenge of their second highest successful run chase, England got a scintillating 39-ball 73 from Tom Banton and a 24-ball 57 from Phil Salt – one of three debutants and five changes for the match – but fell short at 204 for nine.
Fast bowler Romario Shepherd claimed three for 59 and bowled a crucial 16th over which cost only 11 runs and pushed England’s required run rate past 15.
“Overall it was a very, very good game of cricket. Obviously we had to bat first and I think we batted and batted well,” said West Indies captain Kieron Pollard.
“Kudos to Rovman. I think he came in and took his chance. He didn’t play the first couple games and getting the opportunity now, he grasped it.”
Powell, who played only four T20 Internationals last year, arrived at the crease at 48 for two in the sixth over after Pooran had put on 37 for the second wicket with Shai Hope (4), following the second over loss of Brandon King for ten.
He immediately took the attack to England’s bowlers, depositing the second ball he faced from spinner Liam Livingstone over the ropes at deep square, and proceeding to belt four fours and ten sixes.
The Jamaican raced to his fifty off 31 balls, reaching the landmark with a six over cover off Livingstone in the 14th over which leaked 26 runs, before reaching his hundred off another 20 deliveries in the penultimate over, with a couple behind square.
He galloped into the 90s by taking 19 runs off debutant left-arm seamer George Garton in the 18th over before joining Chris Gayle and Evin Lewis as West Indies players with a T20I century.
“It’s a proud moment. It’s a very proud moment,” Powell beamed moments afterwards.
“For the last five six months I’ve been working hard and when you work hard, it’s good to see it pay off.”
Pooran punched four fours and five sixes before perishing in the deep in the 17th over and Powell put on a further 40 with Shepherd (11 not out) before also holing out in the deep at the end of the 19th over, as West Indies gathered 71 runs from the last five overs.
In reply, Banton smote three fours and half-dozen sixes, putting on 33 for the first wicket with Jason Roy (19) and a further 46 for the second wicket with James Vince (16).
Pollard (2-31) made key strikes with his slow medium as England lost four wickets for 50 runs to slump to 129 for five in the 13th over, but Salt unleashed a late salvo lashing three fours and five sixes in a 45-run, sixth wicket stand with Harry Brook (10), to rally the run chase.
However, another clatter of wickets left West Indies with the advantage and despite a couple of sixes at the start of the final over from Shepherd, the 38 required was always a mountain too high to climb.
Source-CMC
GUYANA Finance Minister presents half a trillion dollar budget
The Guyana government Wednesday presented a GUY$552.9 billion (One Guyana dollar=US$0.004 cents) tax-free budget to Parliament providing funding for a series of sectors here as the country seeks to continue building on the 19.9 per cent economic growth achieved last year.
“It (budget) is fully financed with no new taxes,” Finance Minister Dr. Ashni Singh said as he delivered the third budget in 18 months, telling legislators that the economic growth was due mainly to the oil and gas sector, with the non-oil sector growing at a rate of 4.6 per cent.
Singh said the economy is expected to grow by 47.5 per cent this year with the non-oil economy growing by 7.7 per cent.
The government also announced tax reductions in a bid to improve business competitiveness, promote local content and support job creation
Regarding the importation of new motor trucks of any tonnage for transport of goods and less than four years old, Singh announced the removal of the 10 per cent excise tax as well as the 14 per cent value added tax (VAT).
He said in relation to the importation of new haulers for pulling containers or similar vehicles for pulling, the government is removing the 14 per cent VAT.
“New double-cab pickups below 2000 cc will see the removal of the currently applicable 10 per cent excise tax altogether, while for new double-cab pickups between 2000 and 3000 cc there will be a reduction of the excise tax from 110 per cent to 75 per cent,” he said, noting that in relation to the importation of new single cab pickups below 3000 cc, the government will remove the currently applicable 10 per cent excise tax while reducing the cost of cranes, safety equipment, and oil spill equipment
“Still on the subject of improving the competitiveness of Guyanese businesses and enabling them to ramp up their equipment fleet, we will also remove the 14 per cent VAT on cranes, safety equipment, and oil spill response equipment, all as part of ensuring that as many Guyanese businesses as possible can equip themselves accordingly,” Singh said.
The government is also removing the two per cent withholding tax on resident contractors that had been implemented by the previous government.
“This tax very severely affected the liquidity of resident contractors and therefore also undermined their competitiveness. It also proved challenging to administer, with very uneven compliance, particularly outside the Central Government. We will, therefore, remove this two per cent withholding tax on resident contractors”.
Singh said that these measures will cost an estimated two billion dollars and will make an important difference in ensuring the competitiveness of Guyanese businesses, and thereby help create jobs.
He said that the government is to increase of old age pension from GUY$25,000 to GUY$28,000, saying this will place an additional GUY$2.3 billion of disposable income in the hands of 65,000 old age pensioners.
Public assistance is proposed to be increased from GUY$12,000 to GUY$14,000, benefitting 18,000 persons and provide a further GUY$432M in disposable income to those individuals, Singh said announcing a series of other public assistance grants.
Delivering the fiscal package titled “Steadfast against all challenges, resolute in building our One Guyana,” Singh said the Irfaan Ali government is mindful of the severe challenges that continue to beset both the global and domestic economies, including the coronavirus (COVID-19) pandemic, climate change and the massive floods across the country this year.
He told legislators that the budget is geared at ensuring that the country’s “urgent developmental needs” are met in the shortest possible time, while still protecting the long term economic progress.
This is the first fiscal package that includes financing from the oil sector, through the use oil revenues in the Natural Resource Fund (NRF) and Singh said that administration has also tapped into a US$54 million package received from Norway, combined with investment income, to build two major drainage channels in Region Five and Six to provide significant flood-relief to the coast.
The funds from Norway have come through the landmark Guyana- Norway partnership under the Low Carbon Development Strategy (LCDS) Under the partnership, Norway signed a deal for USS$250 million, once Guyana’s deforestation rates remain intact.
In his presentation, Singh said the gold mining subsector represented 8.8 per cent of the country’s economic output last year and this sector is expected to contribute significantly to the economy against this year.
“Significant growth can be expected from the subsector in 2022, with gold declaration envisaged to continue to be dominated by small and medium scale producers,” Singh said, adding that these producers are operating 1,054 small-scale mines and 25-medium scale mines.
Gold output was the third largest non-oil sector of the local economy in 2021, accounting for more than 60 per cent the country’s total non-oil export earnings. Singh said that the country’s total export earnings was more than four billion dollars last year.
The government also announced that it is providing an additional six billion dollars to support the Guyana Sugar Corporation’s (GuySuCo’s) ongoing investment in field and factory operations as it seeks to turn around the industry with the reopening of several estates this year.
The new funds brings total budgetary support to GUY$17 billion with Singh announcing that the government will continue to consider the possibility of engaging private investor interest also in some of the estates.
“Looking ahead at 2022, strategic investments will be made at Albion, Blairmont, and Uitvlugt to upgrade and mechanise where appropriate the field operations, and expand packaging capabilities to produce more value-added products for our domestic and international markets,” Singh said, adding that the government’s commitment to the sugar industry remains.
“Mr. Speaker, diversifying the sugar sales mix to maximise earnings; re-engaging previously displaced workers; and repositioning the industry on a sustainable path to profitability. Since taking office in August 2020, the focus has been on rehabilitation of assets and retooling of the estates.
“The Guyana Sugar Corporation will be concentrating its marketing efforts on shifting from the low-value bulk-sugar markets to more bagged and packaged sugar products. To this end, these products will increase from 34 percent in 2020 to 64 per cent of total production in 2022,” the Finance Minister said.
The government is also providing GUY $300 million to the Small Business Development Fund with the Finance Minister indicating that the government will establish an e-commerce marketplace to market goods and services.
“Small businesses have the potential to strengthen communities and the local economy as a whole,” he added.
The government has allocated GUY$76 billion to cater for the construction and upgrades of key roads and bridges this year.
“We recognise that one of the most severe irritants regarding the roads network right now is the congestion on the East Bank Demerara corridor. We have committed to resolving this… a new four-lane highway linking Mandela Avenue to Haags Bosch is currently under construction and will be completed in the first quarter of 2022,” Singh added.
“Another extremely important intervention included in budget 2022 is an allocation of $3.3 billion to finance improvement and enhancement of the aesthetics of the environment across major urban areas in our country, with a particular focus on the capital city.”
The administration has said that with work still ongoing to upgrade the Cheddi Jagan International Airpor CJIA)t, it has allocated GUY$600 million or the rehabilitation and maintenance of hinterland airstrips at Eteringbang, Karisparu, Paruima and Ekereku Bottom.
“Given the emphasis on hinterland development and the domestic tourism product, it is important that we upgrade and enhance the services provided by our hinterland airstrips and aerodromes,” Singh said, adding that GUY$927 million for the CJIA.
The government is providing a total of GUY$73.2 billion for the health sector with GUY $12.4 billion to be spent on developing six new hospitals across the country.
“These regional hospitals are expected to catapult healthcare delivery beyond current levels provided by existing regional facilities as well as to reduce the undue cost and burden of referrals to the Georgetown Public Hospital Corporation (GPHC),” Singh said.
Singh also announced GUY $74.4 billion has been allocated to improving access to education and education with GUY $29.4 billion going towards the energy sector in 2022.
Most of the funds, GUY $20.8 billion, will be channelled towards the development of the Wales Gas-to-Energy project.
Singh told the National Assembly that the government is pursuing its goal of reducing the cost of electricity by over 50 per cent in the next five years.
The training of police officers and boosting the capacity of the Guyana Fire Service are part of the numerous initiatives catered for in the GUY$47.9 billion allocation for public safety and security. Singh said GUY $2.5 billion has been allocated to expand the Safe City Programme beyond the boundaries of Georgetown, resulting in the entire country being connected to CCTV cameras monitored centrally as well as at Regional Command Centres to be established across the country.
The government is providing GUY$2.2 billion to sports.
Sports-CMC
DECR honours World Environmental Education Day
World Environmental Education Day is celebrated on 26 January. Its main goal is to identify environmental issues both globally and locally and to raise awareness about the need for participation in order to conserve and protect the environment.
International Environmental Education Day has been celebrated every 26 January since 1975. That year, the International Workshop on Environmental Education was organised in Belgrade and attended by experts from more than 70 countries, where the Belgrade Charter was published.
The DECR would like to take advantage of World Environmental Education Day as an opportunity to promote knowledge about some of the most serious environmental problems facing our planet and the various strategies that can help us tackle them. To do this resources have been shared to the DECR Outreach and Education Facebook page, and we encourage students, teachers, parents and the community at large to take this opportunity to learn about critical environmental concepts, issues and concerns.
The Belgrade Charter embodies the fundamental demands of environmental education, the goals of which are as follows: To develop a world population that is aware of, and concerned about, the environment and its associated problems, and which has the knowledge, skills, attitudes, motivations and commitment to work individually and collectively towards solutions of current problems and the prevention of new ones.
It is important to understand the causes and effects of climate change especially as it affects the TCI, realise that sustainable development is the best possible way to meet the community's current needs without compromising the capacity of future generations and take stock of the fact that protecting the environment means ensuring our own survival. It is also vital that we understand what renewable energies are and how they can help us take care of our planet, and that water is a natural, limited and scarce resource that is essential to life on Earth.
Green Bay Packers and Tennessee Titans enter divisional round
The NFL play-offs have reached the divisional round and revenge is on a few minds on the road to Super Bowl 56.
After earning a bye last week, the top seeds in each Conference now enter the fray, and the NFC's Green Bay Packers return with a mouthwatering match-up with the San Francisco 49ers.
Green Bay quarterback Aaron Rodgers, the league's reigning MVP, aims to finally get some play-off payback against his boyhood team, who snubbed him in the 2005 draft.
The Buffalo Bills are out to avenge last year's AFC Championship loss to the Kansas City Chiefs, which denied them a place in Super Bowl 55.
The Tampa Bay Buccaneers won last year's Super Bowl and now they face the Los Angeles Rams, whose star-studded roster is keen to get one over the 'GOAT' Tom Brady, who helped the New England Patriots beat the Rams in Super Bowl 53.
And the Tennessee Titans, the AFC's top seed, have a point to prove as they kick off week two of the play-offs at home to the Cincinnati Bengals on Saturday.
Source - BBC