Providenciales, 15 May 2015 – Haiti will not agree to terms laid out by the British and the Turks and Caicos Islands and so a Memorandum of Understanding is not signed and sounds as if one may never be… well at least not in the near future. Minister for Border Control and Labour, Hon DonHue Gardiner confirmed this in the House of Assembly this week and while the Minister would not agree that talks have broken down with Haiti, he did say this.
“Having made the best endeavors to reach certain accommodations with the Government in Port Au Prince (Haiti), and having experienced several shifting of the goal posts as and when agreements were thought to have been reached we have – and certainly – this Minister has taken the view that it is unlikely; because no agreement is better than a bad agreement. It is unlikely that we will come to any accommodations with the government in Port Au Prince.”
At least two Governors have been involved in this negotiation to get the MOU signed, meanwhile the country continues to spend over a million per year to repatriate Haitians who breach our borders illegally. All costs for towing, housing, feeding, treating and returning Haitians home are borne by TCIG; well except in the case if the Haitians are deceased. The Haitian government after a boat capsized in Christmas of 2013 repatriated the bodies of 17 of their countrymen who died in that tragedy.
UK Prime Minister Liz Truss forced to break tax cut promise
By Dana Malcolm
#UnitedKingdom, October 6, 2022 – A month into her tenure as Liz Truss, UK Prime Minister is going back on one of her biggest campaign promises to cut taxes for certain British citizens.
The tax cut in question had been part of the PMs signature campaign to ease the economic burden in the UK and one that she and former Finance Minister and candidate for Prime Minister Rishi Sunak had repeatedly clashed about. It would have seen the top earners, meaning anyone bringing in over £150 thousand a year, pay less money to the government.
Unfortunately the plan rocked Britain’s economy pushing the pound on par with the US dollar for the first time in years.
It is an economic blow, and at a time when families are already struggling with incredibly high energy bills and inflation. The money to find these tax cuts would have been borrowed an idea that her own party signaled it would vote against. In addition to the economic impacts British citizens had also been strongly opposed to that facet of the economic plans.
In letting go of the tax cut, Truss said, “We get it and we have listened” the admission coming days after she defended it to the public.
Still there are parts of the larger package that will still go on which will afford tax cuts to lower income families and put a cap on energy costs.
Regressive recession looming, forces UN to issue Cease and Desist message to ‘big’ countries
By Dana Malcolm
October 6, 2022 – Central Banks in advanced nations must stop pushing up interest rates now or risk sending the globe into recession where developing nations suffer most according to the UN.
In the last several months, The U.S. Federal Reserve, the Bank of England and Bank of Canada have all spiked interest rates in an effort to control borrowing power, buying power and possibly push down inflation
“The world is headed towards a global recession and prolonged stagnation unless we quickly change the current policy course of monetary and fiscal tightening in advanced economies.” It said, mincing no words, the agency described the potential global recession as ‘policy induced’ by developed countries. And this recession could be worse than the 2008 crisis. This is especially true for developing countries like those in the Caribbean.
“While all regions will be affected, alarm bells are ringing most for developing countries, many of which are edging closer to debt default.” The agency said.
And if it happens the recession could set developing nations back years in the struggle to increase their standards of living.
“As climate stress intensifies, so do losses and damage inside vulnerable economies that lack the fiscal space to deal with disasters let alone invest in their own long-term development— The global slowdown will further expose developing countries to a cascade of debt, health, and climate crises.”
If the globe proceeds as is the world will lose 20 percent of its income by and push developing economies growth rate below 3 percent which the UN says is ‘insufficient for sustainable development’
Inaugural FinTech Conference on now in Barbados
By Sherrica Thompson
#Barbados, October 6, 2022 – Barbados is now hosting the first-ever global fintech conference in the Caribbean.
Over 300 delegates from across the globe and varying sectors within the industry will be attending the event. It began on Wednesday October 5, concluding October 7 and is being staged at the Hilton Barbados.
The Fintech Islands conference will feature renowned fintech leaders delivering key addresses and over 20 hours of curated content. The mandate of the event is to create a world-class event that will be a catalyst for the growth of the fintech ecosystem in the Caribbean.
One major highlight of the conference will be the welcome address by the Prime Minister of Barbados, Mia Mottley, who will also host an exclusive VIP meet and greet.
Some of the major themes of the event that are relevant to the context of the Caribbean venue are Financial Inclusion, Climate Fintech, Cryptocurrencies and Decentralised Finance and Embedded and Open Finance.
The event will have a range of speakers from founders, CEOs and fintech leaders from North America, Latin America (LATAM), Europe and Africa.
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