News
TCI: Slightly Bigger Budget: $342.9 Million Nat’l Spending for New Fiscal Year
#TurksandCaicos, June 6, 2021 – Covid-19 devastated the Turks and Caicos islands because the jurisdiction is so heavily dependent upon travel and tourism as its economic lifeblood; the Premier Washington Misick did not need to state it but the fact was a preamble to his 2021-2022 Budget Address on June 29 which would aim to illustrate how TCI absorbed the hit, learned from the hit and to where it can pivot because of the hit.
“Mr. Speaker, it has been a tough period as we have dealt with the ravages of COVID. There have been suffering and death. We mourn the loss of each person and send condolences to their loved ones. I ask that we stand and observe a moment of silence not only for those who died from COVID but all the souls we lost in recent times.
May their souls rest in peace and light perpetual shine upon them.
Hon Speaker, this is the first budget in my administration that is just about four months old. My team and I have hit the ground running. In fact, less than two weeks after taking office, we were already delivering for the people. That is what we intend to do throughout this term.”
Several training campuses are earmarked including one for Hospitality and at least four financial institutions are being built up including the long-touted Credit Union.
“Institutions such as a Development Finance Institution, a Credit Union, a Partial Credit Guarantee Fund are all intended to work in concert to achieve economic prosperity, societal well-being and reduce income inequality,” said the Premier who shared more on the concept.
“$250 thousand dollars will facilitate the creation of a Credit Union to encourage and expand access to affordable banking, insurance, and financial services for all.”
On the new training campus for uniformed officers, he said: “Two million dollars is being spent to acquire property, develop the framework and programs for the training of law enforcement personnel. This is a priority. This National Security Training Academy will provide ongoing training for Police Officers, the Military, Customs, and Immigration Officers. It will facilitate recruitment and training of the best candidates our country has to offer and rebuild a positive image of these various bodies.”
When hurricane Ike compounded by the Global Financial Crisis of 2008 took its toll on the Turks and Caicos, it was a 19.8 per cent blow said the Finance Minister in reflecting on previous tough times … Premier and Finance Minister Hon Washington Misick said the Coronavirus Pandemic resulted in 35.8 per cent losses in government revenue.
Hotel and Restaurant Tax was down a staggering 73 per cent after TCI was shut off from the world between March and July. No hotels meant less need for imports, particularly food and drinks and so import duties were down 34 per cent and customs processing fees dipped by 38 per cent.
The two border taxes account for 60 per cent of governments revenue, said the premier in the address.
“Mr. Speaker, COVID has been devastating to us – a Tourism reliant country. In FY 20/21, overall Government Revenues declined by $112.9 million or 35.8 -percent compared to Financial Year (FY) 19/20. This decline stemmed from a 73.0- percent fall in hotel & restaurant tax, a 44.6 – percent fall in imports and a 38.1- percent fall in customs processing fees. Import duties and Customs Processing Fees (CPF) are the largest revenue generators and combined account for 60 percent of the TCIG Revenue.”
A projected deficit of $100 million was missed; the actual was 88.7 million which, said Hon Misick, was funded from TCIG cash reserves.
“Coupled with the loss of revenues Mr. Speaker, a demand was placed on the country’s finances with the compulsory health measures to protect life. Resources had to be redirected and our reserves had to be used to pay for testing, additional bed capacity, respiratory and oxygen generating equipment and treating COVID-19 patients. There was also more than the usual expenditure on cleaning, sanitization, and personal protective supplies.”
The new budget is only two per cent more than last budget year; $342.9 million is the projected spending. Revenue for the upcoming budget year is pegged, conservatively at $274.5 million, he said.
“The Estimated expenditure is $342.9m. This is a 2 percent increase over last year and 9 percent over the rollforward Estimates. “
Itemised were: $304.2 is for recurrent expenditure – the day to day expenses such as wages, goods, and services; $11.7m for non-recurrent expenditure; and $27.0m in capital development.
Caribbean News
Agriculture Ministry Providing Two Water Trucks to Serve St. Elizabeth and St. Catherine
#Kingston, Jamaica, April 24, 2024 – The Ministry of Agriculture, Fisheries and Mining is to unveil two more water trucks this week, which will be used to service communities in St. Elizabeth and St. Catherine.
Portfolio Minister, Hon. Floyd Green, made the disclosure during Wednesday’s (April 24) post-Cabinet press briefing at Jamaica House.
He also informed that of the $90 million earmarked to support farmers being impacted by the current drought, the Ministry will be
providing additional support for storage and drip-irrigation systems.
“So, we have targeted about 600 water tanks and about 400 12-millimetre drip irrigation hoses, and that distribution has already started. Additionally, we have earmarked about $8 million to really help with our livestock farmers,” Mr. Green said.
“We know the difficulty that you’re facing now in this time; [it’s] very hard to get the right nutritional support for your animals. As such, we will be providing some hay, and we will [also] provide some trucking of water to you. Again, our livestock farmers, if you are in need, please contact the Rural Agricultural Development Authority (RADA) and let us see how we can help in these times,” he further stated.
Mr. Green also encouraged farmers to download the RADA App, so that the Agency can “help guide you, not only in relation to what is happening on the rainfall side, but also in relation to your integrated pest management”.
“We do see some increases of certain types of pests during this time, and it’s important that our farmers are paying attention to that. It’s also important that you’re taking drought management seriously [by undertaking] soil mulching, looking at planting drought-tolerant crops, timely harvesting, implementing land husbandry treatments and contour ditches,” he stated.
Contact: Latonya Linton
Release: JIS
Photo Caption: Minister of Agriculture, Fisheries and Mining, Hon. Floyd Green, speaking during Wednesday’s (April 24) post-Cabinet press briefing at Jamaica House.
Donald De La Haye Photo
Dana Malcolm
Staff Writer
#TurksandCaicos, April 19, 2024 – In an attempt to move to 24-hour-a-day operations Turks and Caicos Islands Airports Authority (TCIAA) is steadily recruiting Air Traffic Controllers to work at the Providenciales/Howard Hamilton International Airport, according to Godfrey Smith, TCIAA CEO, reporting to the Appropriations Committee.
Speaking on April 8th Smith said a cabinet paper would be sent soon requesting six more Air Traffic Controllers to make round the clock operation at the Provo International possible and to open the airport in Grand Turk till 12 a.m.
Currently, 17 posts are filled and seven are vacant.
Smith was candid with his responses to recent industrial action from ATCs which led to resignations and firings.
“What we have to do is find systems to mitigate such actions and that has to start with filling these jobs, putting people in that want to
work and doing right by people – and we always try to do right by our staff. Persons may not think that we are but we always do – we ain’t pick no fight,” he said in the meetings held at the NJS Francis building ahead of the National Budget Communication.
Smith indicated that recruitment was an issue across the board, ‘we need to find ways to recruit a little bit better’ he told the committee. Also in need of a push was capital spending or projects according to the CEO, who said the agency had ‘not been very good’ at meeting that mark but insisted they had recognized the issue and could do better.
A very important key performance indicator drawn up by the TCIAA is increasing passenger satisfaction at the Howard Hamilton International Airport. For the TCIAA part of this means a 30 percent increase in seating by Q2 of this year.
When queried on if they could even handle this increase the CEO said,
“The fact of the matter is we already have the capacity there. What we need is to make the service a bit better.”
Staff shortages have become such a frustrating issue that the TCIAA is instituting a scholarship program created by Authority Chairman, Selvyn Hawkins
“What the board wants to do is basically allocate $25,000 annually for a scholarship and they’ve approved it already.”
This process would cover tuition and all other costs for one student.
The student would return as a summer intern and other breaks to work at the TCIAA and upon graduation, assume a role at the company.
“We identify a particular skill we need, we go after it and we build capacity that is in a nutshell the nexus of the program,” Smith said.
The Turks and Caicos Islands Airports Authority (TCIAA) is allocated $49 million this financial year; over $20 million goes to salaries.
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