TCI News
TCI Governor statement on Salary Cuts and return of UK Chief Financial Officer; says its ‘fake news’
#Providenciales, Turks and Caicos Islands – October 9, 2020 — I have been asked to comment, by Magnetic Media, on a piece of social media distributed by ‘CaribbeanNewsGlobal’ not least because it carries a photograph of a UK Minister and quotes unnamed, but supposedly well-placed sources in London, suggesting that the UK is making a set of financial demands on TCI.
These are non-attributed quotes, to an unnamed journalist, circulated by an unknown social media platform, purporting to be a Caribbean news outlet, that no one has heard of. As a result the story should be dismissed as an example of the very worst in social media fake news – if poorly executed. My statement of the 15th September, that includes a section on the economy, is the UK’s position.
Without dignifying the story, but given the headline, there are two falsehoods that need to be squashed. The first, because in these difficult times families do not need to be subjected to unnecessary fear, is that there is no truth, whatsoever, that the UK is seeking a 20% reduction in civil service salaries. No such conversation has taken place.
The second, given those choosing to invest in TCI, or institutions intending to lend to TCI, follow commentary generated for internal consumption, it is also important to put on record – categorically – that there is no truth whatsoever that the UK has decided to ‘intervene in TCI’s finances’ nor any suggestion a CFO is needed. It was needed in the past because of previous rampant corruption.
Today the UK does recognise that the Finance Ministry in the TCI is first class and entirely able to manage the Territories Finances without UK oversight. This, after all, was the first year when TCI did not need to present its Budget for approval.
Given TCI presently carries an extraordinarily small debt and given the Government of TCI has been prudent – entering the COVID crisis with strong reserves – should the TCI Government wish to take on well sourced and competitive debt the UK will, I’m sure, be supportive. That support is necessary because the UK takes on the contingent liability for all Overseas Territories debts. But that is where the conversation presently rests with the UK – the Premier as Minister of Finance signalling she is looking for the best deal she can secure, and the UK waiting to hear what the Governments approach to debt will be.
Given the UK itself is having to borrow very serious sums of money to weather the COVID19 crisis it will obviously be sympathetic to an Overseas Territory that, over the last years, carried almost no debt.
Looking forward the Governor’s Office will not be giving a running commentary on so-called news – as it relates to the UK / TCI relationship – purporting to come from ‘Caribbean News Global’. It is clearly a fake news platform.
One truthful statement that relates to the TCI / UK relationship, which of course helps confuse the reader by mixing established fact with falsehood, is that the UK is indeed supporting TCI’s Ministry of Health having sent Professor Ian Cumming to support the Premier, Minister and Permanent Secretary along with an epidemiologist, with a PhD from Cambridge, to support our own excellent Dr Malcolm and a fast stream civil servant from the UK’s National Health Service to work with the National Laboratory, and other areas, as the Minister of Health wishes. That would seem the right thing to do at time of pandemic and is a far better real world characterisation of the present relationship between the UK Government and TCIG.
TCIG knew from April that fuel factor could surge almost 80%; Minister says $500 cost-of-living payment was part of Government’s response
PROVIDENCIALES — The Turks and Caicos Government knew months before July’s shocking electricity bills that consumers faced a potentially massive increase in the fuel factor.
Minister of Information Technology and Energy E. Jay Saunders revealed Friday that Pelican Energy warned his Ministry in April that generation fuel costs were projected to rise from $3.09 per gallon in May to $4.79 in June and July.
That translated into a projected fuel factor jump from about 17.5 cents to 31 cents per kilowatt-hour — an increase of almost 80%.
Saunders said he personally advised Cabinet of the projected increase and presented options for cushioning the impact.
He characterised Government’s $500 cost-of-living payment as its “initial response” to rising fuel costs, before a separate fuel-factor subsidy was approved.
Cabinet records show Government agreed on June 24 to provide funding to mitigate the fuel-factor impact, with the relief programme approved July 8.
Eligible residential customers — those averaging less than $1,500 monthly over the previous three bills — are capped at 22 cents per kWh from July through October.
Pelican confirmed Friday that Government’s contribution was already applied to July bills, meaning the bills now triggering widespread public outrage would have been even higher without the subsidy.
Saunders did not disclose the programme’s total cost.
His admission that Government knew since April, however, raises another question amid the backlash: why were consumers not directly warned by Government about the scale of the approaching increase?
PROVIDENCIALES — New commercial Crown Land applications are facing a six-month pause as the Turks and Caicos Islands Government takes inventory of its holdings.
During Cabinet meetings held July 15 and 16, an immediate six-month moratorium was approved on the acceptance, processing
and approval of new applications for commercial Crown Land grants, leases and allocations.
The pause will remain in place pending completion of the Crown Land Inventory Review. Cabinet’s summary did not state what prompted the review or indicate whether availability of commercial Crown Land is a concern.
The two-day meeting also advanced major consumer legislation. Cabinet approved the National Fair Competition Policy 2026 and drafting instructions for a Fair Competition Ordinance, moving TCI toward stronger consumer protection and fair competition rules.
In Grand Turk, Cabinet approved rezoning land in the North West Suburbs from low-density to medium-density residential use to facilitate a new apartment development.
Cabinet also advanced fisheries reforms, water legislation allowing private and public-private investment, minerals legislation and appointments across tourism, health and finance.
Progress toward establishing a TCI Credit Union was also noted.
PROVIDENCIALES — Major development projects outside Providenciales received Cabinet attention on July 8, with Government approving agreements connected to the redevelopment of Dellis Cay and a resort development in North Caicos.
Cabinet approved a Development Agreement between the Turks and Caicos Islands Government, Desarrollos Hotelco DC Ltd. and
Desarrollos Hotelco Astoria Ltd. for the redevelopment of Dellis Cay.
The long-discussed private island development sits between Providenciales and North Caicos and its return to Cabinet signals another step toward redevelopment.
Cabinet also approved amendments to an agreement involving SPR LND Ltd. (Royal Reef) and TCIG Development Agreement for a resort/hotel development in North Caicos.
Other decisions included approval of the First Supplementary Appropriation Bill 2026 for onward transmission and the appointment of Cindy Ewing as Chair of the Invest TCI Board, effective August 1 for three years.
Cabinet also noted consultation outcomes concerning changes to business licensing, approved professional membership expenses for qualifying Telecommunications Commission staff and approved advice relating to the Interim Clinical and Estates Services PPP.
The July 8 meeting was chaired by Acting Governor Anya Williams.
Photo Credit: Royal Reef (Keith)
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