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New Fiscal Year for the Turks and Caicos

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#TurksandCaicos, April 4, 2022 – April 1st passed over the weekend, and with it the start of the new fiscal year for the Turks and Caicos Islands, bringing several changes into effect.

The Gun Amnesty has officially ended and with it any chance of individuals with illegal firearms to avoid prison time if they are caught, with an unregistered gun or ammunition. Now, April signals the start of a new policing strategy to get illegal guns off of the street.

The initiative, which offered a cash incentive to the handover of unregistered weapons, was announced at the start of March.  The Amnesty ran March 1-31st.

“Be reassured, we will match them every step of the way.  We hope it does not reach there, but we are capable of doing just that, said Rodney Adams, Deputy Commissioner of Police in addressing a concern that the Royal TCI Police is outmatched when it comes to firepower.  He added, “We will continue to do what needs to be done in terms of enforcement, however, the good news is that for this time, we are giving them one month to turn it in, and obviously moving forward, there will be zero tolerance.”

April also brings with it some reductions in taxes and the Food & Fuel Tax breaks came into force on the first day of the month.

In announcing the measure, designed to offset the staggering weight of rising inflation and the exacerbation caused by sanctions which followed the Russian invasion of the Ukraine, Premier Washington Misick held a national press conference to explain how government plans to help.

“We are initially providing a relief of $15 million dollars over the next 12 months” this, he said was to ‘hold down costs to consumers.’

April 1 is also the start of the announced increase in National Insurance Board payments for workers and employers across the country.

“In order to protect its reserves, which are specifically set aside for the continuous payment of future benefits during periods of economic downturn, it is necessary to immediately increase the existing contribution rate structure.

Cabinet in accordance with the recommendations of the Actuary, has accepted and approved the implementation of incremental increases in the current contribution rates over the next three years with effect from April 1, 2022,” a January 2022 press release from the NIB explained.

In the private sector, the rate on taxable income is raised to 10 per cent; 5.5 per cent is to be paid by the employer and 4.5 per cent is to be paid by the employee.

In the public sector, the rate is up to 9.15 per cent with the worker paying 4.075 per cent and the employer or government paying 5.075 per cent.

The self-employed NIB rate is hiked to 8 per cent.

Pension increases for retired individuals over 65, who are for the first time accessing their pensions will see incremental increases up to 30 per cent; however the increase is for those who opt to tap their retirement later.

Also to begin April at the NIB, an outright end to invalidity payments which do not meeting a 300 contribution payment threshold.  Previously, invalidity beneficiaries were accepted after 150 payments into the plan

Another whopper announcement for April came from the TCI Government for its 2,500 staff members.

The new Public Sector Employees Pension Fund and the  Pensions Amendment Bills were also passed in the  House of Assembly with a budget of $23 – $30 million dollars in the first year of the benefit to civil servants.

This means public sector workers officially have a working pension plan along with their NIB pension plan; historic and effective on April 1.

The new savings strategy – which employs a co-payment system – was designed to ensure islanders can look forward to healthier remuneration for disability, death, late and early retirement.

Attorney General Rhondalee Brathwaite-Knowles said, “It is the right of every public sector worker to not only be provided with the tools that allow them to appropriately carry out the roles that are recruited to do, but that they also receive fair compensation and benefits for doing so.”

Additionally, the start of the quarter offered to business licensees across the Turks and Caicos Islands a three-month opportunity to pay off their business license arrears. Government presented a ‘debt forgiveness’ offer to the tune of $1.4 Million and cancelled all penalty charges attracted due to unpaid business license fees, dating back to 02018.

 

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Sandals Foundation and returning guests donate sports gear to Turks and Caicos Islands Softball Federation

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#TurksandCaicos, December 7, 2023 – Beaches Turks and Caicos resort returning guests, Moe Bertelsmann and family recently presented softball gear and jerseys to the Turks and Caicos Islands Softball Federation and the Sports Commission. The family along with the Sandals Foundation team made the presentation to Godfrey Been, President of the Softball Federation and Tamara Bassett, Board Member of the Sports Commission, at the opening of the High School Softball season at the Ball Park in downtown Providenciales.

The supplies, which include bats, balls, catching helmets, gloves, shin guards, hard hats, catching gear, and practice playing gear will bolster the federation’s ability to provide instructional training while allowing coaches and the players to be more prepared not only for this season but the long term.

General Manager James McAnally shared, “Guests are one of the Sandals Foundation’s greatest partners in providing support to our islands throughout the Caribbean. We are grateful to the Bertelsmann family for their donation to the Softball Federation and hope it will help in developing this fast growing sport.”

In sharing the inspiration behind the family’s donation, mother, Anne Bertelsmann noted, “as a family we are passionate about the sport of softball and the physical and mental discipline that these activities provide for our youth. When we did our research on the sport here in Turks and Caicos Islands and shared with other families and organisations, they all decided to help. My daughter Alexa even donated some of her lightly used equipment along with friends, Chris Goodfred and Tonia Martin.

Softball Federation president, Godfrey Been, in expressing his appreciation for the gifts shared, “these items came at the right time. As a federation, we have been working on introducing and improving the sports at every high school throughout the Turks and Caicos Islands. With this donation, we now have gears to play practice games as well as helping our local coaches with providing for their players and being better prepared for the future. We are grateful to the Bertelsmann family and the Sandals Foundation for supporting softball here in the region. We will take this and “run” with it to get softball to where it once was, the number one sport.”

Melleisha St. Jean, catcher of the Maranatha Academy’s softball team was impressed by Alexa who joined a few players on the field and traded catching techniques. “As young players, to see Sandals Foundation and guests sharing with us and even taking the time to give us some playing tips really helped us. I am inspired to continue playing the game.”

 

CAPTIONS

Header: Tamara Bassett, Board Member of the Turks and Caicos Islands Sports Commission and Godfrey Been, president of the Softball Federation accept the softball gear from the Sandals Foundation and the Bertelsmann family recently at the Ball Park downtown Providenciales.

1st insert: President of the Turks and Caicos Islands Softball Federation, Godfrey Been (left), shares a moment with Semi-professional player and Beaches Turks and Caicos guest Alexa Bertelsmann (centre) and Joddy Harvey, Sports Commission Compliance Manager discuss plans for the further partnership with the organisations

2nd insert: President of the Turks and Caicos Islands Softball Federation, Godfrey Been, expresses his satisfaction to the Sandals Foundation and the Beaches Turks and Caicos resort returning guests the Bertelsmann family for the donation of the softball gear to the federation

3rd insert: Semi-professional softball player and Beaches Turks and Caicos guest, Alexa Bertelsmann (left) goes through some catching routine with Maranatha Academy catcher Melliesha Saint-Jean at the start of the high school softball competition at the Ball Park

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Bahamas Prime Minister Philip Davis’ Remarks at the COP28 Green Climate Blue Co Launch

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#TheBahamas, December 7, 2023 – We are here today because we are short on time and even shorter on the resources needed to empower every nation in the world to respond to an increasingly dire climate crisis.

We are approaching the tipping point from which there will be no return. At our current rate, the world will cross the 1.5 degrees Celsius threshold sometime within the next two decades.

The window of opportunity is closing.

But it is not closed yet.

And as long as there is even a small opening, just a sliver of time left for us to take action, there is still hope that we can save the world from the worst-case climate change scenarios.

I’ve travelled the globe representing Small Island Developing States like mine which have contributed the least to global carbon emissions but are already experiencing the worst effects of climate change.

Global inaction will soon threaten our continued existence as nations, but we will do everything within our power to avoid this outcome.

The Bahamas is here this week at COP 28 to invite the people of the world to partner with us and all vulnerable states to face this existential threat together.

As a region, the Caribbean has seen the results of our advocacy take shape in the form of the Loss and Damage fund to help us recover from the destruction already wrought on our nations. And we will continue to push for greater access to financing opportunities as we seek to protect our shorelines, build climate-resilient infrastructure, and invest in a renewable and sustainable future.

Through collaborative action, we will also create new industries and generate demand for novel solutions. Solving the world’s most pressing problems has always been good for business. We are entering an era of socially responsible investments, regenerative financing, and ESG finance. And the Caribbean is prepared to lead the way. In fact, if we want to continue to thrive as a region, we have no choice but to lead the way.

My country has been hit by four major hurricanes over the past few years. Over a third of our national debt is directly linked to the impact of storms, causing billions in damages that threaten the economic and fiscal health of our nation and people. With the situation projected to worsen at its current rate, we have gone all-in on making the necessary investments to solve our climate woes. Our future as a nation depends on it.

So, today, I applaud the Green Climate Fund for its efforts to support the developing world in creating climate-resilient pathways to a sustainable future. This is life-saving work.

With the approval of the application for preparation funds to finance the development of the Blue Co Caribbean Umbrella Coordination Programme, we fully expect to see new, effective solutions emerge for the people of the Caribbean.

The Blue Co  Caribbean project will provide the foundation for strategic investments at a scale not possible without embracing the spirit of cooperation and co-investment through this Caribbean-targeted, climate-focused investment opportunity.

Through this platform, Caribbean nations will be empowered to strengthen their blue economy frameworks and develop data-backed projects that can then be replicated and scaled across the region. My nation, as one of the world leaders in the research and development of blue carbon credits as a viable source of revenue generation, looks forward to the ways that Blue Co will strengthen The Bahamas’ mission to develop home-grown solutions that can fund a climate-resilient future for our people.

It turns out that saving the world isn’t just good for people, it’s also good for business.

Just yesterday, we were privileged to host a discussion on the Bahamas Sustainable Investment Programme, which will generate up to $500 million for climate-related investments. This is a testament to our commitment and resolve to generate our own innovative solutions to the climate crisis. And we are by no means standing alone.

Within the Caribbean, we have the passion, motivation, and expertise to drive the success of this initiative. There is no doubt in my mind that Blue Co can and will serve as a model for other regions to follow.

I invite all interested parties to reach out, get involved, and together we will save countless lives and livelihoods on our way to building a more resilient, renewable, and prosperous future for all nations.

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Small Island Developing States claim for OTEC at COP28

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Dubai, 7 December 2023 – As the world converges for COP28, a side event has shed light on Ocean Energy for Small Island Developing States (SIDS). Hosted on the 6th of December at the Alliance of Small Island States (AOSIS) pavilion, in Dubai, the session had its focus on the blue and green economy aspirations of SIDS, with a special highlight for Ocean Thermal Energy Conversion (OTEC). The common claim was that the technology is well suited for the renewable energy transition in tropical islands around the globe, which are currently mainly powered by fossil fuels.

Harnessing the SIDS’ main natural resource, the ocean, OTEC technology will have its first commercial implementation in São Tomé and Príncipe, Africa, by 2025. Designed by British startup Global OTEC, the project can half diesel costs. “This is a remarkable change in fortunes from the status quo of expensive and dirty fossil fuel imports. As we have concluded that the first-of-a-kind would produce electricity for a considerably lower unit cost than diesel, we also know it will fall dramatically as we scale up and deliver bigger and more ambitious projects”, says Global OTEC Founder and CEO Dan Grech.

Facing several challenges for power generation through fossil fuels, SIDS are now claiming more investment in OTEC. Representatives of Tonga, Dominica, Seychelles, Tuvalu and Barbados made references to Ocean Energy and OTEC in their remarks. Countries such as Bermuda, Palau, Saint Vincent and the Grenadines, Bahamas and Grenada also attended the session.

The Minister for Infrastructure, Natural Resources, and Environment (MIRNMA) of São Tomé and Príncipe, Hon. Adelino Rosa Cardoso, highlighted that the project needs additional financial support to supplement what the private sector is contributing. “Several SIDS are anxiously waiting on Dominique’s deployment, that’s why my government, along with our private sector partner, Global OTEC, are aggressively engaged with our development partners to see how we can accelerate Dominique’s deployment.”

As São Tomé and Príncipe is setting the path for SIDS renewable energy transition through the ocean, other tropical islands are already waiting in line to be next to receive OTEC floating platforms. “We, SIDS, really have no choice in terms of energy, we are running out of land, and we don’t have much space for solar. But we have one space that we can’t ever run out of, which is our oceans. So it’s only enlightening that we can see partnerships that focus on this resource, a resource that can save us but also can save the planet”, notes the SIDS DOCK Secretary General Dr Al Binger.

Ocean energy can play a critical role in changing how SIDS are powered, as other renewables are less respectful to their particularities and needs. In bringing attention to OTEC’s potential in driving sustainable development and energy independence for tropical islands, COP28 is contributing towards a cleaner future for over 600 million people. “We are large ocean states, and it would be, in my mind, an injustice to our people if we refuse to continue to make the case for ocean technology. Whether in the form of wave, or OTEC, we need to make that argument”, concludes Hon. Dr. Vince Henderson, Minister of Foreign Affairs, International Business, Trade, and Energy of Dominica.

Caption: Global OTEC Founder and CEO Dan Grech, Minister for Infrastructure, Natural Resources, and Environment (MIRNMA) of São Tomé and Príncipe, Hon. Adelino Rosa Cardoso, and the Secretary General of SIDS DOCK Dr Al Binger

 

About Global OTEC:

Global OTEC is a UK-based private company set up to accelerate the commercialisation of a floating OTEC technology to develop zero-carbon, baseload, clean energy sources that achieve maximum impact in empowering Small Island Developing States (SIDS), Least Developing Countries (LDCs) and Coastal Nations with energy security whilst helping the Earth reduce greenhouse gas emissions and eventually eliminate total dependence on fossil fuels.

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