TCI Gov’t to Stimulate 13,000 as Application Portal Opens

By Dana Malcolm

Staff Writer

c magneticmediacaribbean

#TurksandCaicos, February 7, 2022 – The portal to access the government’s $6.5 million dollar budget stimulus is live and ready to accept applications. At least 13,000 Turks and Caicos Islanders will be able to claim the 500 in cash that was announced in the House of Assembly last week.

In reference to the reasoning behind the stimulus, Premier Washington Misick said, “we are committed to making the necessary fiscal and social changes to counter the effects of inflation and to ensure that you can live and thrive. We understand the need for immediate relief while we create a long term solution. That is why we have decided to give you a short term stimulus.”

The stimulus is a temporary fix according to Finance Minister E.Jay Saunders, aimed at helping Islanders to cope with prices of consumer products that have risen exponentially like fuel, groceries, and electronics.

The funding for the $6.5 million dollar initiative was pulled from several areas according to Saunders.

“The Government will fund the additional expenditure through a $2 million dollar reduction in the Contingency Fund, a $3.5 million dollar reduction in the allocation for property acquisition, a $1.69 million dollar reduction in the allocation for works programme and finally a $200,000 dollar reduction in the allocation for Development Finance,” he said.

Notable is the $3.5 million dollar reduction in the Allocation for Property Acquisition. This means money that was proposed for spending on creating recreational spaces and parks across the islands will go unused for this purpose and would have been reabsorbed to the Treasury.

With the budget soon to expire in March, the Government is trying to ensure the money isn’t returned to the public purse and it is given to Islanders, but in the midst of this, there are some who feel side-lined.

Long time spouses and long time legal residents of the Turks and Caicos were not included in the eligible categories for the stimulus, despite being taxpayers and the fact that these individuals are also suffering from price increases.  For those eligible though, the process is simple.

The inflation stimulus portal is available on the TCIG website and only requires a few pieces of information including the applicant’s name, address, and proof of status.

The portal for the Citizens’ Inflation Stimulus closes on February 11, 2022.