News
Finance Minister’s motion for Grand Turk businesses passed in Parliament
By Dana Malcolm
Staff Writer
#TurksandCaicos, December 15, 2021 – The Turks and Caicos Islands Government has tabled a motion in Parliament to write off Business Licence arrears. The motion was announced by Finance Minister E. Jay Saunders on Monday, mere hours after the cruise industry was re-opened by the PNP Government Administration and Carnival Cruise Line.
“Let me be clear Mr. Speaker, this Motion is to help Turks & Caicos owned business get back on their feet and to go from surviving to thriving.”
Hon Saunders started his presentation by announcing the success of the Cruise Tourism Sector Assistance Programme. The program which offered a stimulus package to cruise buss in the Turks and Caicos was launched in mid-November and attracted 135 applicants.
“Mr. Speaker, this stimulus programme was launched on the 15th November 2021 and it ran until 26th November 2021, with applicants having until the 13th b 2021 to submit all outstanding documentation. Mr. Speaker, for yours and the public’s consumption, I want to say that out of the 135 applications received, only 12 or 9 per cent were declined, with 74 or 55 per cent having already received their approvals. Mr. Speaker, that’s money in the bank for those businesses!!!”
The Deputy Premier categorised this uptake on the Programme as quite high. Despite this success Saunders said he noticed that several businesses had not applied because they were unable to pay their business license fees. He said the number of businesses on the islands who were not able to do so was significant.
“Notwithstanding everything I said previously Mr. Speaker, in looking at the Programme, it was found that while many businesses were able to pay up their business license fees, unfortunately, a significant number of businesses were and are still unable to do so. As a result, Mr. Speaker, penalties have been accruing on a monthly basis at a rate of ten per cent for each month, or part of each month, businesses license fees remain not paid up. In addition, Mr. Speaker, those businesses faced an additional hardship, as their outstanding business license renewal restricted them from applying for the Cruise Tourism Sector Assistance Programme, due to one of the criteria being that businesses show proof that their licenses were paid up. To help these businesses, and Mr. Speaker it is the right thing to do, the people’s Government, our government has seen it fit to waive the business license fee penalties.”
Saunders explained that the progress of the motion which had to pass scrutiny of various heads of department and the TCI Cabinet, before making “its way to this Honourable House for debate…”
The Finance Minister labelled the motion, ‘a fresh start.’
“As the guardian of the public’s purse, Mr. Speaker, it is also my moral obligation to always look out for the people of the Turks and Caicos Islands.”
The motion was passed on the day in the House of Assembly. At this time, it is strictly for Grand Turk businesses which serve in the cruise tourism industry.