News
What on earth is going on in the House of Assembly; Budget Debate shockingly UNEVENTFUL
Dana Malcolm
Staff Writer
#TurksandCaicos, April 19th, 2024 – Tradition has been flipped on its head for the 2024/25 Budget Debate following a refusal by Government Ministers and the Opposition Leader to debate the spending sheet, and the public is left holding the short end of the stick.
Following a tradition of transparency mirrored across the globe in different governments, parliamentary front benchers usually speak directly to what funds allocated to their ministries will be used for, outline the benefits to the general public and even update on progresses over the preceding fiscal period but not so in the Turks and Caicos Islands this time around.
The National Budget and its breakdown in spending is the heart and head of the sitting administration and without it, nothing can be achieved and yet, there was on Wednesday April 17, one day after the official communication by the finance minister, total radio silence.
“[They] sat there in silence all day and refused to give an account of their ministries or constituencies to the electorate in the final budget debate after collecting hefty salaries for the last 3+ years,” said one angry resident responding to the unusual display.
The decision not to speak means the public has no idea how ministers plan to use the $485 million of the people’s money that they’ve been allotted this year.
Many are livid.
“Them PNP ministers didn’t report on their budgets because they ain’t do ***** for their constituents, so they don’t have ***** to report. Report card score is zero O,” ranted one individual.
Others were just as disappointed in Edwin Astwood, the Opposition Leader.
“It is shameful that the Leader of the Opposition didn’t come prepared to deliver his rebuttal to the Premier’s speech; and to make matters worse, he had the audacity to go on live interview during lunch and say he wasn’t prepared,” said one resident.
Astwood defended his decision to the public. 
“Instead of myself getting up and speaking right after the Premier and then you would have eight or nine persons speak after me, spinning a different story, I said, as the Leader of the Opposition I need to be able to address the Premier and all his ministers.”
That didn’t happen and the debate was shockingly wrapped up with only contributions from the Premier, in his capacity as finance minister, and the two Governor’s Appointed Members.
The entire fiasco was apparently brought down by the change in protocol, where Astwood, who usually speaks before the Ministers, asked to speak after them instead so that he could respond to them all in full. It’s a decision that was accepted by the Speaker and which Astwood says he informed the Ministers of as well.
“They were afraid of me speaking after them and they were saying ‘We’re gonna make sure you speak before us.’ I told them ‘If you don’t get up, I am not getting up.’ This is your Budget. You need to tell the people how you are spending their money in your current ministry,” he said.
Astwood accused them of ‘playing chicken’ while some Residents couldn’t comprehend the actions of either side. A choice to break with tradition and play tit for tat over respectfully seizing the opportunity to inform the Electorate what was to be done with public funds over the next 12 months.
“You mean to tell me that Seven (7) Ministers, Six (6) Elected Backbenchers, and 1 PNP Appointed Member were terrified to speak before the Leader of the Opposition because he would have torn their speeches apart???” asked a resident.
As the story evolves some residents applaud Astwood for standing his ground.
“The Leader of the Opposition did absolutely the right thing. His insistence that the Ministers should defend the budget was correct and he was right to “Break with Tradition,” to let them all speak and then Reply. It is a good move for democracy and accountability,” a TC resident explained
In response to the confusion and outrage, the government released the following statement late Tuesday.
“If there is no one willing to speak, a decision is made by the Speaker to advise members of his intention to close the debate. The mover is then asked to wrap up the debate on the motion. Today, this is what occurred in the House of Assembly.”
On Wednesday when we sought clarification on the matter Jamell Robinson, Deputy Premier and Minister of Physical Planning and Infrastructure Development told us, “We will be in Committee as of 10 am today. Debate on the second reading of the bill is completed.”
When we asked why Robinson decided to forgo his speech he told us this, “What took place yesterday was very unfortunate as the Leader of the Opposition chose our 4th budget presentation to try and break a long-standing convention. As for residents, I have already begun distributing relevant information in relation to what is in store for Budget 2024/25 from an Infrastructure standpoint.”
No other official statements have come from the ministers regarding the decision though Magnetic Media has reached out to all of them.
#TurksandCaicos, May 2, 2024 – For the fourth consecutive year, Scotiabank Turks & Caicos has secured the ‘Best Bank’ award from renowned North American finance magazine, Global Finance.
The award celebrates banks that demonstrate strength of strategy for attracting and servicing digital customers, success in onboarding clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and website and mobile app design and functionality.
Dr. Suzan Snaggs-Wilson, Managing Director for Scotiabank Turks & Caicos said the bank continues to make significant investments in its digital infrastructure to satisfy its customers’ needs. She further lauded her team’s commitment to the bank’s digital transformation, noting that their encouragement among customers solidified the strong adaptation witnessed.
“At Scotiabank, we remain committed to proactively assessing and working to meet the needs of our customers through accessible and easy-to-use banking solutions that enhance their experience. This award underscores our strategic commitment to advancing accessibility and convenience across our services, and we take great pride in being honored with the esteemed Best Bank award for the fourth time running,” she said.
Dr. Snaggs-Wilson also highlighted the Bank’s convenient and customer-focused approach to banking positively impacted its client interactions and satisfaction.
The annual World’s Best Bank award selects the top performers among banks and other providers of financial services and has become a trusted standard of excellence for the global financial community. The magazine recognized 28 banks in Latin America and the Caribbean in this year’s 31st announcement.
Scotiabank Turks & Caicos joins its regional counterparts in Barbados, Jamaica, Trinidad & Tobago, and The Bahamas, in receiving the award.
Providenciales, Turks and Caicos Islands – May 2nd, 2024 – Invest Turks and Caicos Islands (InvestTCI), proudly participated as a platinum sponsor at the Prestigious Caribbean Hotel and Resort Investment Summit, held from April 22nd to 23rd, 2024 at the Loews Coral Gables Hotel in Miami, Florida.
CHRIS is highly regarded as the leading and most noteworthy hotel investment conference for the Caribbean, offering unparalleled networking opportunities and a comprehensive lineup of sessions led by esteemed hotel and financial industry experts. This year, the summit offered invaluable insights into the performance of the Caribbean tourism industry, highlighting its remarkable resilience as it surpassed pre-pandemic growth levels and outperformed the Americas.
More than 400 delegates attended representing over 30 countries, including investors, industry leaders, government tourism officials, and media representatives. Among the notable brands present were Playa Hotels & Resorts, Wyndham Hotels & Resorts, Marriott International, Sandals Resorts International, IHG Hotels and Resorts, and Club Med.
At the summit, CEO, Mrs. Angela Musgrove delivered a compelling presentation on “Opportunities in the Turks and Caicos Islands,” with a focus on the family islands and their unique offerings. CEO Musgrove’s presentation highlighted that outside of Providenciales,
there is a world of untapped opportunities that lay in the unspoiled, picturesque islands of Grand Turk, North Caicos, Middle Caicos, and Salt Cay – the Turks & Caicos’ “family islands”.
Noting that these islands are a collection of ecological magnificence waiting to be transformed, she introduced the audience to the lesser-known side of Turks & Caicos Islands and some of the magnificently tourism-zoned areas that are prime for substantial development. She also highlighted the Turks and Caicos Island’s comparative strengths and reasons to invest, positioning the country as an attractive destination for investment in the Caribbean region.
CEO Musgrove underscored that “Invest Turks and Caicos is diligently pursuing development opportunities for the islands beyond Providenciales. The agency acknowledges the importance of fostering more balanced growth and equitable opportunities across our entire island chain. This strategic focus reflects our commitment to promoting inclusive economic development and maximizing the potential of all islands within the Turks and Caicos Islands.”
Accompanying CEO Musgrove were Senior Vice President of Investor Services, Mr. Keno Forbes, and Marketing Support Officer, Mr. Hezron Henry. Mr. Forbes remarked, “CHRIS provides a unique platform to showcase the immense investment potential of the Turks and Caicos Islands to a global audience of industry stakeholders. We are excited to engage with investors and highlight the diverse opportunities available in our thriving market.”
As the premier investment promotion agency of the Turks and Caicos Islands, Invest Turks and Caicos Islands remains committed to facilitating sustainable investments and economic growth in the country through strategic collaborations and transparent practices.
Rashaed Esson
Staff Writer
May 2, 2024 – The Latin America and Caribbean region is projected to see slower economic growth for 2024, according to the International Monetary Fund (IMF) in a report published on April 19.
Growth, the organization says, is expected to slow to 2 percent down from 2.3 percent compared to 2023 and this is due to weaker external environments, specifically the trade side, as well as the effects of strict policies put in place to tame inflation, which are still in the process of solidifying. 
This may come across as bad news but Rodrigo Valdes, Director Western Hemisphere Department IMF Moderator, in a video press briefing assured that it isn’t.
“We see risk around this baseline projection as broadly balanced. This is not, as we saw this in the past, this is good news, and this reflects basically more balanced global risks,” he maintained.
Considering all of this, Valdes expressed that the region has shown great resilience over the past few years since the pandemic rebound, which he says has been “stronger than expected.”
Valdes spoke to labor markets being in good standing as well as unemployment which remains at historical Lows.
In continuation, he says inflation is receding throughout the region and is expected to contour to fall for the rest of the year. Rodrigo Valdes further expressed this is thanks to timely action by regional central banks and of the global disinflation trends.
“Risks to inflation have also become more balanced than in the past although it’s still [tilde] to be more persistent or higher than these expectations that it’s going down,” he added.
-
Latin America and Caribbean1 week agoRegional SDGs Update
-
Crime1 week agoFollowing Court ruling, US Embassy Doubles Down on Warning: DO NOT TRAVEL TO TCI WITH GUNS, AMMO
-
Bahamas News1 week agoEnvironment State-Minister updates ‘Our Ocean’ forum on The Bahamas as SIDS leader in sustainable tourism
-
Bahamas News6 days agoPacesetting Cohort of Eleuthera Residents Graduate from Leading Light Programme
-
Bahamas News7 days agoNassau Cruise Port Donates Nearly $2 Million Towards Food Security
-
Caribbean News1 week agoRBC appoints new Head of Caribbean Banking
-
News1 week ago
“Mad Max” Convicted of Murder
-
Health6 days agoIncreased cases of Chicken Pox Prompts Ministry of Health and Human Services Response